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Using your opponent’s strength against yourself is the philosophy of aikido, a Japanese martial art. In Aikido there is no fear of giving in to your partner, you can be weak or strong.
In the context of business, aikido means that the advantages of a competitor can be turned to your advantage. The aikido business model targets a niche audience that is attracted to the opposite approach of the competitor. Competition is an expensive business, both financially and emotionally. Who are your competitors? How are they ranked, what are they doing on social media, how and where do they advertise?
Stelvel Ltd recommends the Aikido strategy to drop shippers and small online shops. It will make your business profitable even in the face of stiff competition.
Getting out of the line of fire: move sideways, avoid direct confrontation
It’s expensive and unsustainable to compete with the big online players and well-known online retailers at the top of online searches. Look for narrow niche or product-specific product categories. Find what the big players are ignoring.
Advertising with interest or audience targeting allows you to ‘capture’ those who have already interacted with a competitor’s Facebook and Instagram page or posts.
Direct and harness the energy of the attacker
Use the marketing efforts of strong competitors to your advantage. If they are heavily promoting a particular product or category today, take advantage of it! Your shopping site or online store may offer different products to your competitor, but they may be a good match for what they are selling.
In Google Ads media campaigns, you can set up targeting based on your competitors’ domains and the keywords for which they show their ads. As a result, your ads will be shown to people who are searching for a similar product and visiting your competitors’ websites.
Local online businesses can target their social media and Google Ads ads using geo-targeting or competitor location targeting.
Keep your balance and know how to fall properly
Be prepared for setbacks and problems that may arise, and learn to learn from them quickly. For example, if certain products aren’t selling well, get feedback from customers, analyse why and don’t be afraid to adjust your range. Refocus your resources on categories that are in demand and move on.
Don’t get stuck with the same suppliers, have back-ups, get customer feedback, improve products or replace them.
Social networks allow you to run quick A/B tests (split tests) of products, creative and different approaches. After analysing the results, you can change creatives, targeting and budgets without delay.
Amortisation: the ability to take a hit
In business, resilience is the ability to soften the blow of financial problems, market changes or aggressive action by competitors. This can include diversifying your business, building financial reserves or implementing crisis management strategies.
To reduce advertising costs and increase advertising effectiveness, use remarketing, retargeting and lookalike audience tools.
Stelvel recommends: Aikido in practice
- Carry out a SWOT analysis (strengths, weaknesses, opportunities and threats) of both your business and your competitors.
- Focus on segments or niches where competitors are less active. If a competitor has several lines of business, they may not focus on individual segments.
- Constantly analyse the market and competitors’ actions to adjust your promotion and advertising strategy.
- Create value. Focus on what makes your drop shipping business unique. This could be exceptional customer service, value-added services (such as personalised recommendations), educational content or active engagement with your customer community.