How You Can Beat Your Competition When They Have More Money and Have Been in Business Longer | Ep. #581

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Marketing, Careers, Business

4.6 • 1.4K Ratings

🗓️ 4 March 2018

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In episode #581, Eric and Neil explain how you can beat your established, monied competition. Tune in to hear steps you can take to beat your competitors at their own game! TIME-STAMPED SHOW NOTES: [00:27] Today’s Topic: How You Can Beat Your Competition When They Have More Money and Have Been in Business Longer [00:36] Neil gives away stuff for a cheaper price. [00:49] You can always undercut your competitors by offering the same thing for less. [01:16] Use the newest and greatest tech, because the competitors are probably using old, archaic technology. [01:26] Neil is going to do this to compete with Moz. Moz charges $99/month for their SEO tool, so he’s going to offer his SEO tool for FREE. [01:44] He can do what their doing for under $10,000. [02:01] These other companies have boards, executive teams, etc. While Neil can make decisions and act more quickly, because he doesn’t have to have all these groups weigh in. [02:16] Go where the competitors aren’t going. [02:25] These other agencies aren’t doing content marketing, podcasts, speaking engagements, or releasing tools. Zig where they zag. [03:00] Dropbox wasn't the first cloud in the game, but they offered their services for free! [03:10] Take your existing users and get them to help promote you for a reward. [03:45] Eric recommends reading Zero to One, which will help you figure out other avenues of marketing and competition. [04:05] When you want to beat your competition, if you are starting out, it’s a good idea to niche down. [04:35] When you’re competing with bigger companies, look at what they are not focusing on. [04:52] Translate your services into other languages and markets, which will help you remain competitive and may be a smaller pool. [05:30] Neil does this and finds there is less competition abroad and is winning in those markets. [05:43] That’s all for today! [05:48]Go to Singlegrain.com/Giveway for a special marketing tool giveaway! Leave some feedback: What should we talk about next? Please let us know in the comments below. Did you enjoy this episode? If so, please leave a short review. Connect with us: NeilPatel.com Quick Sprout Growth Everywhere Single Grain Twitter @neilpatel Twitter @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	Get ready for your daily dose of marketing strategies and tactics from
0:06.8	entrepreneurs with the guile and experience to help you find success in any
0:11.4	marketing capacity. You're listening to marketing school
0:14.5	with your instructors Neil Patel and Eric Sue.
0:19.4	All right guys before we start we got a special message from our sponsor.
0:27.0	If you want to rank higher on Google, you got to look at your page speed time.
0:31.5	The faster your website loads, the better off you are. With
0:34.4	Google's core vital update, that makes it super, super important to optimize your
0:38.5	site for low time. And one easy way to do it is use the host that Eric and I use dream
0:44.5	host so just go to dream host or Google it find it check it out and it's a
0:49.3	great way to improve your load time.
0:51.6	Welcome to another episode of Marketing School.
0:55.0	I'm Eric Sue.
0:57.0	And I'm Neil Patel.
0:58.0	And today we're going to talk about how you can beat your competition
1:01.0	when they have more money and have been in business longer.
1:04.0	Neil you've done this a couple of times what are your thoughts?
1:06.0	I just give away stuff for a cheaper price and he still keeps doing it he's crazy.
1:11.0	Yeah people say I'm crazy all the time but it works because if you can't keep or you can't compete with them because they have more money than you, you can undercut them. Think of it this way. If a company is worth billions of dollars I'm going to extreme
1:24.9	case and they make all of their money because they charge a certain amount for a product
1:29.2	you think they can just reduce their prices by half of course they can't if they do that their
1:34.8	stock price is going to get crushed their valuation is going to get crushed they have no
	...

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