Categories
Quilt Marketing Quilting Business

When a Competitor Fails

http://www.flickr.com/photos/gavinbell/1617422579/I received a great question from Karen about how to best handle when a competitor goes out of business.  Here's the question:

Chuck,

The nearest competitor to us closed on Monday. Is there any way we can capitalize on her closing without appearing as over zealous or gloating . How or what should we advertise to capitalize on the closing? Or so we just let nature take its course.

Thanks,

Karen

This can be a difficult situation since  you certainly don't want to come off as happy that your competitor has failed because you want to make their customers comfortable with choosing you as the alternative.  Here is my answer to Karen:

Hi Karen,

When a competitor goes out of business is certainly no time for gloating.  Besides the obvious fact that someone just had to give up on their own dream business, there's the loyal customers who had invested a lot of time and money with this business because they either like the service, the products, or the owners.  Sensitivity is key, but you definitely want to make these customers start to love your business just as much.

Here's what I would suggest: