289 - Competing with Established Memberships in Your Market

Do you want to launch a membership, or have you launched already and now found that there are big, established competitors in your market?

Don’t panic. Your competitors may have a massive library of content, years and years of experience under their belt, or thousands of members, but don’t let that intimidate you.

Your size, your uniqueness, and your ability to zig when your competitors zag, gives you an edge – if you know how to take advantage of it.

In this episode, I share many tips on how to differentiate yourself from the competitors. From zeroing in on your specialty and niche to emphasizing your personal brand and offering a personalized service, these tips will help you get a share of that membership pie.

Essential Learning Points:

1.   How understanding ‘why you exist’ can help you differentiate from your competitors

2.   Why specializing and niching down on your topic and who you serve can help your positioning

3.   The benefits of focusing on your personal side, embracing your underdog nature, and striving for quality

4.   Why you should avoid getting wrapped up in competitor numbers and look for opportunities

5.   What to avoid doing when dealing with competitors

Important Links & Mentions:

• Bob Burg, “The Go Giver: A Little Story About a Powerful Business Idea”
• The Membership Academy
• The Membership Mastermind Facebook Group
• The Membership Guys’ Twitter
• Mike’s Instagram
• Callie’s Instagram

Key Quotes:

“If you can offer something that caters to a specific segment of your audience, then you are going to stand out and beat your competition every single time.”

“Don’t be intimidated by that established competitor with a library of content. It’s all about what value and what results you can deliver.”

“Don’t obsess about the fact your competitor has more members than you or that they have cornered a percentage of the market because, in all honesty, you only need a small percentage of the marketplace to succeed.”