Most of these attempts didn’t get past the very first conversation about this. However, that’s not to say that collaborating with your competitors won’t work.
One interesting example from right here in Scotland, is the “Disloyal 7” - a project between seven independent coffee shops in Edinburgh. Instead of taking the more traditional loyal scheme: you get a free cup of coffee for every 10 you buy at the same cafe, they’ve switched things up.
The initiative actually rewards you for trying out the competition’s coffee!
You get a stamp for each of the seven coffee shops in the scheme and then you can redeem a free cup of Joe at the one you liked most - how cool is that?!
And as an added bonus, you also get to check out different parts of the City, as the seven coffee shops are located all over Edinburgh.
I feel this isn’t too widely marketed on purpose, as it gives it an kind of exclusive, almost “illicit” feel. It’s kinda like when you discover a secret bar or speak-easy that you have to be in-the-know about!
I’m strongly for competition in business as it should provide a better selection of products and services to customers at a good price. It should also encourage businesses to keep on innovating, which also benefits the consumer.
Conversely, look at any industry which has a monopoly or which is State-funded. Are they really innovating? Where’s the incentive for them to do so? Are the customers really getting the best value?
Have you ever considered collaborating with your rivals?
Could you do something innovative where you both win?
And as a result, the customers of both of you get an enhanced customer experience!
Kallum with a K
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