How to (ethically) steal customers from your competitors 📜 

Think of any successful businesses. They likely have one thing in common:

They outsmart their competitors.

Bill Gates put it best: "Whether it's Google or Apple or free software, we've got some fantastic competitors, and it keeps us on our toes."

Turns out, competition is actually a GOOD thing in business.

It pushes you to innovate and gives you access to a whole new pool of potential customers.

Funny, no one taught us "ethical competition" in school…

And even if they did, there are a few GIANT hurdles:

Competition is fierce. The strategies can seem overwhelming. There’s not a straightforward way to gain an edge.

...So you end up losing customers.

Ever heard the phrase, “the winner takes it all”?

I’ve got strategies … ethical ones … to help ensure you’re the winner. 🏆️ 

My goals?

• Help you attract customers ethically and effectively.

• Build a community of businesses that thrive by playing fair.

Now, are you ready?

Today in 4 minutes or less:

✔️ A billion-dollar advantage

✔️ How to tip the scales like the big guys

A BILLION-DOLLAR ADVANTAGE

Let's talk about how savvy companies gain an edge to steal customers from their competitors and boost their profit margins.

Here's the formula:

Identify high demand for a product + ensure low supply of your unique solution + spark interest and validate demand = substantial profit margins.

Take a look at Taylor Swift. (BTW… She JUST announced her 12th album yesterday. The grind. Truly. Never. Stops.)

The music market is oversaturated with starving artists performing in streets, bars, and restaurants… Not to mention the millions making TikToks and YouTube videos trying to catch their big break.

Yet, Taylor Swift is outperforming everyone, even breaking the $1 billion mark with her Eras Tour.

How did she do it? What's her secret? 🤯

There are four key strategies brands use to gain a market edge (Taylor nails #2 👀):

1. Innovation

Offer something new and groundbreaking. By introducing a product or a part of your stack that hasn't been seen before, you can position yourself uniquely and command higher prices. This could even look like coming up with a fancy-sounding name for a product that already exists.

Example: Apple took the simple concept of wireless earbuds and rebranded it as "AirPods." This innovation wasn't just in the technology but in the branding and user experience, allowing them to charge a premium price.

How to Apply: Think creatively about your offerings. Instead of “Business Coaching for Restaurants,” call it “The Marketing Cookbook for Getting Customers in Seats.” Innovation often comes from creating compelling hooks and narratives around your product, making it seem unique and indispensable.

2. Relationships

Forge personal connections between your product and your customers. This deep bond increases customer loyalty and allows you to charge premium prices.

Example: Taylor Swift’s relationship with her fans is unparalleled. Through her relatable lyrics, personal interactions, and album easter eggs, she builds a strong, emotional connection with her audience, giving her fans the ultimate FOMO if they miss the concert. Fans are willing to pay thousands just to see her perform live.

How to Apply: Engage with your customers on a personal level. Share stories, respond to feedback, and create a community around your brand. Host events and webinars, or simply get active on social media to deepen this connection. The more personal your relationship with your customers, the more loyal they will be, and the more they will be willing to pay for your products or services.

3. Convenience

Make your product more convenient for customers. Whether through immediate delivery, unmatched availability, or simplifying a complex process, convenience can justify higher costs.

Example: Amazon Prime offers next-day delivery, an extensive range of products, and a seamless shopping experience, making it more convenient than many other retailers. This convenience factor allows them to maintain a loyal customer base willing to pay for the service.

How to Apply: Identify pain points in your customer’s journey and eliminate them. Offer training videos, 24/7 customer service (we can help with that), or done-for-you services. Simplify processes like checkout, refunds (we prefer to make it easy like Costco), and customer support. The easier and more convenient you make it for customers, the more likely they are to choose you over competitors, even at a higher price.

4. Price

Utilize special agreements or advantages to cut costs and offer competitive pricing while maintaining good profit margins.

Example: Arizona Iced Tea keeps its costs low by owning their production process and avoiding debt, allowing them to sell their beverages at the iconic price of 99 cents while still achieving solid profit margins.

How to Apply: In the digital world, pricing strategies can be incredibly flexible. I don’t always recommend competing on price, but you certainly can! Offer tiered pricing models, such as freemium, basic, and premium plans, to attract a wider range of customers. Bundle services and features to provide better value. Use analytics to understand your customers’ willingness to pay and adjust your pricing accordingly.

This is what will drive your profit.

Find your edge that makes your products or services more desirable and justifies the price you charge.

HOW TO TIP THE SCALES LIKE THE BIG GUYS

All of this sounds amazing!

But… how can your business ethically steal customers and create market imbalance if you’re not a mega-famous pop star or tech giant?

You’ve gotta think strategically.

Here’s how you can ethically and strategically gain an edge:

1. Choose a Niche, Identify a Need, and Offer a Solution

If you’re just starting out, this is your foundation. Find an industry you’re familiar with, identify a specific problem, and offer a unique solution. By deeply understanding the pain points of your target audience, you can create a product that truly stands out.

2. Create a Waitlist

Build anticipation by creating a waitlist. Allow potential customers to sign up for more information and keep them engaged with valuable content. This not only educates them about your solution but also keeps your brand at the top of their mind. Offering exclusive insights or early access to your waitlist subscribers can create a sense of privilege and anticipation.

3. Limit Supply

Creating exclusivity is key. Let’s say you have 100 people on your waitlist. If your product launch is limited to only 25 spots, those who don’t get in will be more motivated to act quickly next time. This scarcity can drive demand and make your product seem even more desirable.

4. Justify Your Rates with Quality and Unique Value

If your rates are higher than your competitors, ensure your service or product quality justifies the price. Offer premium features, exceptional customer support, or unique benefits that competitors can’t match. Even with a small client base, providing unmatched value can create loyal customers who are willing to pay a premium.

5. Innovate and Stand Out

Innovation can set you apart from the competition. Whether it’s a new feature, a unique approach, or a better user experience, being different and better will attract customers. If your offer can’t be easily replicated, you create a significant competitive edge.

Example in Action:

Imagine you’re launching a new SaaS tool designed specifically for real estate agents. Here’s how you can apply these steps:

• Niche and Solution: Your tool simplifies client management for real estate agents, addressing specific pain points they face.

• Waitlist: Build a pre-launch waitlist, offering early access and exclusive tips on how your tool can transform their workflow.

• Limit Supply: Offer limited early access to create urgency. Highlight that only a select few will get to try the tool initially.

• Quality and Value: Ensure your tool offers features that competitors don’t, like AI-driven client insights or seamless integration with popular real estate platforms.

• Innovate: Continuously improve and add features based on user feedback, keeping your product ahead of the curve.

So here’s the bottom line:

You want to ethically steal customers from your competitors?

Recognize (or CREATE) your advantages and use market imbalance to your benefit.

Don’t wait for perfect conditions—start now, with the insights you have. Test ideas, make smart mistakes, and take calculated risks.

Action always beats indecision. Bet on yourself, execute smartly, and go out there and do the dang thing.

Your profits will thank you.

To profiting more and working less. 💸 

-Matt

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