There are no competitors in business when you truly understand who your ideal client is, what language they speak, and why they should choose you. A lack of clarity in any of these areas puts you in a competitive position. When you get it right, no one can exactly replicate it, placing you in a position of growth, empathy, and emotional intelligence. That said, the best way to adapt your product positioning and stay ahead when a new business enters the market offering similar solutions is to refine your soft skills—and those of your team. One key soft skill is self-awareness, which is knowing how your feelings and past experiences influence your perspective, helping you respond more effectively in various situations.

There will always be existing and new competitors, so it should not be a surprise another one emerged. When developing your product marketing plan, you should have a SWOT on your existing competitors, and create a composite of your competition. Your marketing strategy should have clear objectives and tactics to give you a competitive advantage. If a new competitor emerged that disrupts existing plans, its important to reevaluate your competitive SWOT composite with the new information. Tactically, there may be opportunities to address a perceived weakness or bolster a strength. But, I would caution against always reacting to competition. If your marketing plan and positioning is solid, it should be able to achieve its goals.

When a new competitor shows up, it's time for me to remind everyone why they came to my party in the first place. I start by digging into what the competitor's actually doing well and where they’re just blowing hot air. Then, I double down on my product's real strengths—the stuff that made customers choose us originally. And instead of a generic “we’re better,” I tweak the message to say, “Here’s what we do that they don’t.” It’s not about being louder, it’s about being more relevant.

To adapt our product positioning in response to a new competitor in the market, we will first conduct a thorough competitive analysis to understand their strengths, weaknesses, and unique selling propositions. This insight will allow us to refine our messaging and emphasize our product's distinct advantages. We’ll gather feedback from customers to identify their evolving needs and preferences, ensuring our positioning resonates with our target audience. Additionally, we can leverage targeted marketing campaigns that highlight our value proposition and differentiate us from the competitor. By remaining agile and responsive, we can effectively reposition our product to maintain a competitive edge.

In product marketing, a new competitor can shake things up. But that's your change to get better! Analyze the competition: See what unique benefits they offer. Review your strengths: What makes your product stand out? Highlight those points. Shift your focus: Find advantages your competitor misses. Maybe target a customer group or use case they overlook. Talk to your customers: Their feedback helps you know what sets you apart. Stay innovative: Look for ways to improve your product or add new features to stay ahead. Remember, competition pushes you to grow. Use it to sharpen your skills!