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How to Handle Competition With Your New Website – ReadWrite

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How to Handle Competition With Your New Website - ReadWrite


It’s natural to be intrinsically focused when designing, developing, and ultimately launching your own website. You’re thinking about your brand, the content you want to develop, and of course, the products and services you want to sell. You want to look good in front of your prospects and customers – and generate revenue to keep the business going.  

So it’s also natural to neglect the challenge presented by the competition.

How to Handle Competition With Your New Website 

If you’ve written a business plan, you might have already outlined and studied the competition. But after you launch your website, those competitors will stop being hypothetical constructs and start being active traffic siphons, drawing visitors away from your domain.  

If you’re launching a website in a fundamentally new industry or niche, you might not have much (if any) competition to deal with at first launch. But it’s only a matter of time before others sniff out what you’re doing and launch sites of their own to contend with you.  

No matter what, competition can be a problem. So what’s the best way to handle the situation?  

Identify the Threat 

First, you need to analyze your competitorsWho are these people and why do they pose a threat to your business?  

These are some of the most common types of threats you might face:  

Familiarity and existing brand power. 

If you’re emerging in a market that has already been established, you might find the greatest challenge overcoming the brand power and familiarity that a company has already developed.

In this industry, this company may already be known as a valued leader. They might have already poured years of effort and hundreds of thousands of dollars into their marketing efforts. It’s hard to overcome the influence of a business that’s already so entrenched.  

Visibility and budget. 

This company may also have a pure edge when it comes to visibility. If this competitor is currently dumping money into marketing or having a robust advertising strategy, they may already dominate the search engine results pages (SERPs), social media, and other forms of online visibility. This makes it an uphill battle to get seen by your target demographics.  

Agility and course of development. 

Your top concern with a competitor could be their natural agility. If they have a lot of capital, a plan for development, and ample flexibility, they could easily outmaneuver you – even if you put a highly competitive strategy in place to deal with them. 

Expertise and perceived authority. 

Your competitor could have an advantage over you due to expertise or perceived authority. This is similar to the familiarity/brand power issue in that your competitor may already be entrenched in the minds of your shared target demographics.

It’s often hard to close the gap if this company literally has more years of experience in this field than you. 

Pricing and other hard product advantages

Let’s not forget the basics – if your competitor offers the same product at a lower price, or if their product is strictly better in some way, you’ll find it hard to illustrate yourself as the superior option.  

Once you understand who your competitors are and how they work, you’ll be in a much better position to devise a counterstrategy.  

Choose a Lane: Confrontation or Avoidance 

If your website is already launched or about to be launched, it’s too late to drop the business idea or fundamentally reconstruct it. Instead, you’re going to have to work with what you have.  

You can use countless strategies to get an edge over the competition, but most of them fall into one of two broad categories: confrontation or avoidance. Confrontation doesn’t mean getting into an altercation with the other business, mind you – it simply means you’ll be attempting to directly contend with your competitors, with tactics like:  

  • Price/core product improvementsYou could optimize your business to outcompete competitors with pure product upgrades or better offers for customers. For example, you might use machine learning to continually optimize your product to serve your customers better, or you might offer a product that’s more resilient, more durable, or more efficient than competing products. Of course, you could also work to offer a lower price – which is always a great competitive maneuver.  
  • Expertise. You could also try to offer more expertise or experience than your competitors. This can be difficult if your competitor has been in business for years, establishing trust and gaining experience before your website was even conceived of. However, you can take shortcuts by getting published, building out a more robust team, and aligning yourself with other organizations.  
  • Customer service. One easy way to outdo the competition is to offer better customer service – especially if their service is already a weak point. Offering more communication channels, more personalized service, and better experiences overall can put you in a much better position. Plus, people will be willing to pay more for such thorough care.  
  • Visibility. It’s possible to increase the visibility of your organization even more than your competitors if your budget is big enough and if your strategy is precise enough. There are also cunning methods you can use to get more visibility that doesn’t necessarily require a bigger budget – but there’s no getting around the need to spend money to get seen.  
  • Social clout. Additionally, you could try to outmaneuver your competitors by gaining more social clout. Building a following on social media, landing some big clients, or getting shoutouts from major influencers could all help you here.  

These strategies can be powerful, but there are two main issues with them. First, you may not have the creative ideas or business infrastructure necessary to back these plays. Second, these can be expensive, taking you out of the running before you can earn the benefits. 

Practice avoidance strategies

Instead, you may want to practice avoidance strategies, which allow you to circumvent the competition entirely. For example:  

  • Demographic targeting. Consider targeting a different demographic entirely. If you’re working with two different audiences, you won’t get in each other’s way.  
  • Niche topics. Instead of working with the broad subject matter of your entire industry, try to become a master in one specific niche. A focused specialist will often find it easier to build visibility than a generalist, jack-of-all-trades type business.  
  • Locality. Don’t compete nationally when you can compete locally; you’ll instantly filter out most of your competitors. And you can always adjust to serve a national audience later.  
  • Other modes of differentiation. You can also differentiate yourself with a different brand voice, a different mix of products and services, and an almost unlimited range of other creative ideas.  

Of course, if your competition is fierce and your adjustments aren’t allowing you to build momentum, you may have to consider pivoting the business/website entirely – or closing the business and starting something completely new.  

Ongoing Observance  

After launching the website and making some adjustments, you’re not out of the woods. Your competitors aren’t stagnant hurdles to overcome, but instead are living, breathing organisms that are constantly evolving to overcome you. “Defeating the competition” or “overcoming the competition” are poor names for this strategy since they imply that there’s a point where you’re done.  

Remain vigilant

Instead, you have to remain vigilant at all times, knowing that at any moment, a new competitor could emerge or an old competitor could invent something new to threaten your business.

Therefore it’s important to have a monitoring and observation strategy in place, so you can get a fair warning that a competitor could be a threat – and proactively design and implement new strategies to deal with them.  

When launching a website, you can hope for limited competition, but sooner or later, you’ll have to deal with the threat of businesses like yours encroaching on your territory. The more flexible you are, and the more attention you pay to your competitors’ development, the better your chances of success will be.  

Image Credit: gratisography; pexels; thank you!

Timothy Carter

Chief Revenue Officer

Timothy Carter is the Chief Revenue Officer of the Seattle digital marketing agency SEO.co, DEV.co & PPC.co. He has spent more than 20 years in the world of SEO and digital marketing leading, building and scaling sales operations, helping companies increase revenue efficiency and drive growth from websites and sales teams. When he’s not working, Tim enjoys playing a few rounds of disc golf, running, and spending time with his wife and family on the beach…preferably in Hawaii with a cup of Kona coffee.

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Fintech Kennek raises $12.5M seed round to digitize lending

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Google eyed for $2 billion Anthropic deal after major Amazon play


London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.

According to an Oct. 10 tech.eu report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.

The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:

“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”

The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:

“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”

The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.

The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.

Featured Image Credit: Photo from Kennek.io; Thank you!

Radek Zielinski

Radek Zielinski is an experienced technology and financial journalist with a passion for cybersecurity and futurology.

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Fortune 500’s race for generative AI breakthroughs

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Deanna Ritchie


As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.

Goldman Sachs’ Cautious Approach to Implementing Generative AI

In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.

According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.

One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.

To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.

Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.

Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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UK seizes web3 opportunity simplifying crypto regulations

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Deanna Ritchie


As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.

Streamlining Cryptocurrency Regulations for Innovation

To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.

The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.

Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.

The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.

Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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