– This is what will happen
with Instagram, Facebook, And TikTok whether you like it or not. When Snapchat hit the market,
it was a great success. So successful that Instagram started To copy some of their features. And it made Instagram even more popular. Snapchat, still today, is a success. But a lot of people have their features. And Instagram has grown into
a large corporation now. So much that it's said that
it's estimated to be worth Over $100 billion according to EarthWeb. Now, of course, Instagram's,
you know, owned by Facebook. But still, that's a large
chunk of Facebook's market cap. Eventually, TikTok came out And people started to
do the same with them. They started to copy TikTok's features. Just look at YouTube Shorts.
It's similar to TikTok. According to Statista, YouTube shorts has over
30 billion, with a B, Monthly views. That's a lot of views. Do you see a pattern here? Everyone is copying each other. Have you ever heard of BeReal? It's a social network
that notifies other users When to take a picture. The whole purpose of
it is so people can see How your day really is
instead of you optimizing That perfect picture and painting a story Of how your life looks when
that's not really reality. And eventually, guess what?
Others will copy them too. You may frown upon
that, but it's business. Google does it. Facebook does it. Heck, if Apple likes something
someone else is doing,
What do you think they're going to do? They're going to copy it And they're going to
try to make it better. If something is working
for your competitors And you aren't doing it, You are going to lose
market share and business. Here's what I want you
to do with your company When someone is out innovating you. First, I want you to look
at what they're doing. What's causing their growth? Copy it. You can figure out what's working for them By using tools like Ubersuggest. There's also a similar
web out there as well. And it tells you, "Hey, here's
what your competitor's doing. Here's where they're
getting all their traffic. Here's what's working. Here's what's not." And you can also survey your audience And figure out what they
like about your competition. You can use tools like
SurveyMonkey to perform this And it'll tell you, "Hey,
this is overall feedback." Some people give you random stuff. Some people will give you great feedback. But when you survey, not 10,
but 30, 40, 50, 60 people, Even 100, you'll start noticing patterns. And look for the patterns And that's what you should focus on first. Second, I want you to hire better talent. Not saying that your team isn't great, But you can always have better talent. Go on LinkedIn and see who works for some Of your competitors. Who are they using that's
outshining you, right? Look at the competitors that
are growing faster than you, Have those amazing features or
products that you don't have.
They must have some amazing talent. You just got to go find them. So go on LinkedIn, look
at their employees. Look at what business units
that they're in charge of, The products or the services
that you're trying to copy. Look to see their work history. If they have continually gotten promotions And they stay at companies for a while, Those are good people. If all that lines up and
they're cultural fit, Why not try to steal
them away and hire them? The best way to do that is
to hit them up on LinkedIn And ask them if they know
anyone else who is like them As you're open for a similar role. There is a good chance that they'll say, "Hey, I'm interested,"
or they'll refer someone. When you hit someone up
directly and you say, "Hey, do you want a job?" Doesn't work as well. At the same time, look for other talent That's similar to them
that maybe isn't even At a competition. Third, start experimenting. Copying your competition is one thing. But if you really want to
win, you have to one up them. The one way to beat them
is to start experimenting. There's no guarantee that
something works the way you want. And sometimes when you think
something won't work out, In many cases it does. That's why you want to run at
least one experiment a month, And ideally, one a week. Over time, you'll learn how to create A better product or service, And even win over your competition.
And when you're running these experiments, Don't get demotivated from the failures. Just keep in mind the more you fail, Eventually you'll go down a path That leads you down the
right way and helps you win. Now, I know with this strategy You probably don't like hearing that "Hey, if your competition's
doing something You're not doing, You got to start learning
how to copy, execute faster, Or one up then by making whatever you copy Better than them." But it's the reality. If you say, "Hey, I'm not interested In copying my competitor's
products or features," Like how Google may try or
Apple or Facebook may try. You think Apple's Cloud storage was new? Dropbox was doing amazing
job, but Apple came out. They got iCloud, started
eating into their market cap. And when I say copy, It doesn't mean it has to
be pixel for pixel copycat Of what they're doing. It's idea. It's a strategy. You need to figure out how it
can tie into your business, How it can fit with your customers, And how you need to mold
that product or service Or strategy or feature
to fit your audience. And that may not look
identical to your competition. That's what I mean by copy. If you need help beating your competition, If you're constantly
getting crushed by them, Check out my ad agency NP Digital Where we help companies win Because that's what we want to do for you.
If you have any questions,
leave a comment below. I'm here to help. Thank you for your time. I hope you enjoyed this video. And if you did, share it, Tell the people about it, and subscribe.
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