It is said that imitation is the most sincere form of flattery. But when faced with a copycat competitor risking your business, it might not seem so at all. Unfortunately there is not much you can do to stop them. But there are a few things you can do to protect your brand.
- Cover all legal bases
Patents, provisional patents on ideas, trademarks are all important. They will cover your back if you ever need to go the legal route.
- Confront the copycat whenever possible
Mostly people copy ideas because they are working. A few times, someone might not even realize the implication of what they are doing. Contact them and let them know that you do not appreciate what is happening. Call them out publicly in a way they can’t avoid or pretend ignorance. It won’t always work, but at least they’ll know that you are watching them.
- Offer Superior Service
Products can be copied, but service can be a different matter altogether. Many customers find service as important as the quality of the product, so this is one area in which you can deliver and expect results.
- Don’t stop Innovating
As a business you can’t stop innovating, even when shackled with the fear of copycats. Keep in touch with your customers and markets. Commit to understanding their needs and keep trying to fulfill them. That will keep you ahead of the game.
- Don’t let them get you down
Copycat competitors are a way of life. Accepting the fact instead of stressing over it will help keep your focus where it should be. Staying focussed on your growth, your customers and innovation instead of getting caught up in watching who is copying you is the only way to deal positively with this.
What do you think? How have you dealt with this problem?
