How-tos

I am Partnering with my Worst Competitors and I love Them

By August 7, 2018 No Comments
Pat Racco
Pat Racco
Founder and Director of Advantage Media

Video Transcription

Hello guys, how are you?
Welcome again to you my YouTube channel. If you don’t mind, please subscribe and help me grow this channel; it would be fantastic!

In today’s episode, I would like to talk to you about making friends rather than enemies. What I’m talking about is, of course, about business and when I say enemies, I’m talking about competitors, and when I say friends, I mean partnerships.

As you know, my industry is digital marketing and it’s incredibly crowded. There’s a lot of competition in there.

When it started out, I decided to go all in with all my skills; everything I can do, I will sell it. I can do website design, graphic design, Lead generation, I can do internet marketing (in a broad sense), I can do Facebook advertising I can do Google Ads I can do pretty much anything related to creating your online presence.

But I immediately realised that the competition is really tough. Very strong because everyone else in the same Industries is doing the same things, despite the fact that they might be better than me or worse than me. Your clients don’t know that and your potential clients don’t know that.

They’re not really good at distinguishing you from another one.

So I decided to move towards a strategy which is more focusing on what I am really good at and what I really like doing.

What I’m saying is that you must create strategic alliances with your competitors. It’s a huge benefit if you do it

When I started doing this, I’ve really seen an increase in my business. It’s actually growing mostly because of this alliances and I noticed that my competitors are very open to doing that too because they are smart enough to understand the benefits of doing this.

So, for example, in the last month, I met four of my direct competitors. They also do web design in Brisbane, they do SEO in Brisbane, they also to Facebook advertising in Brisbane.

It’s pretty much the same things that I do, but in 100% of the cases (I’m not saying they’re better or worse than me), they are different.

If I do SEO for companies, it doesn’t mean that I love doing it. One of the things that I like the most is designing and developing websites, so I would instead focus on that than spending a lot of time doing SEO for clients.

So, from now on, if I’m too busy (and I am too busy) and I find a client for my SEO services in Brisbane that need some positioning in Google searches, rather than saying NO, I would forward that client to one of my competitors.

Definitely, someone that I trust, that I have spoken to them in person, I’ve seen their work, and I am sure they can contribute to building my brand so if I forward my clients to them it is because they would benefit as well and my brand will grow in terms of brand awareness and trustiness.

When you do this, you’re not losing clients; you’re not losing Momentums, opportunities or money. You can still apply a mark up if you want.

Basically, if you find a way to make some sort of white labelling partnership with your competitors, they might work on your behalf.

It’s really easy to do if you trust that person, that company. You can White Label their services under your own brand.

For instance, the other day I saw an injury lawyer. There are many lawyers here in Brisbane. I had a client a few years ago and he was an injury lawyer.

If you think about it, it might seem like a specific niche but it’s actually not; it’s very broad. I was driving the other day, and I saw a billboard specific for spinal injuries. That’s a niche.

Imagine you are an injury lawyer and you have a “passion” for helping people who had spinal injuries. I know it’s tough to have a passion for that, but please understand this is just an example…

Imagine you can create a strategic partnership with someone else, still in injury niche, but specifically for something else. Something slightly different.

What happens is that, if you are a spinal injury lawyer, you can take referrals from all those they’re too busy and may have extra work, and they might have a client that has a spinal injury because of a car accident, for example.

They might forward that person to you because you’re specifically for spine injuries. And that applies to any sort of business.

Ok, so back to myself, rather than selling all my portfolio of services, I decided to dedicate myself only to that couple that I really enjoy doing, which are web design and lead generation for LinkedIn and Facebook advertising (lead generation through Facebook advertising).

It doesn’t mean I’m doing Facebook advertising for any sort of business. I like to do that for generating leads.

Now my partners/competitors know that I can bring results with lead generation and I can do beautiful websites. If they are too busy with their SEO, if they don’t like to do web design or if they have more clients than what they can handle, now they know they can forward that work to me. And I can do a great job so they still have that benefit because, if they want, they can apply a markup on top of my quote and I can work under their label.

I hope you guys understand that. Let me know if it’s a good idea or if you hate it. Any comment would be awesome.

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