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You may have recently browsed our dedicated PR Audit page, on which we detail the many reasons to get in touch with our strategic PR agency about a completely free of charge, no-obligation audit. In doing so, you may have noticed our commitment to assessing the position of your company versus its competitors as part of our extensive audit process. This, in turn, may have got you thinking about your firm's own approach to its wider competition. It seems that two distinct types of business owner tend to emerge when it comes to the treatment of the competition. Some business owners and managers can spend almost all of their time monitoring their rivals, responding in kind... and then, there are those that never take note of what their opponents are doing at all. There is a certain logic to both approaches. Those that keep a constant eye on the competition may want to respond directly to any special offers, promotions or change in approach from their rival, to help avert any loss of customers. Meanwhile, those that pay little attention to competitors may be sufficiently convinced of the uniqueness, quality and value that their own product or company offers, that they may pronounce there to be "no real rivals". Both approaches do, of course, also have their obvious drawbacks. The first 'type' of business owner may prove rather too reactionary for their own good, so consumed with the competition's latest activities that they fail to build a distinctive and compelling brand of their own. As for the latter hypothetical business owner, they can be left so unaware of their market and competitors that they miss important industry developments. Plainly, if any company wishes to thrive, it needs to incorporate semblances of both approaches into its wider PR plan, as a complete PR audit from Vantage Public Relations can be instrumental in making possible. Our assessment of your competitors will be undertaken in the context of a review of your own firm's present media coverage and brand awareness, so that we can devise a bespoke strategy that suits your own organisations aims, objectives and circumstances. Striking the right balance in your approach to the 'competitor conundrum' is crucial to bringing your company's PR practices firmly into the 21st century.
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