Question

My client's biggest competitor just announced bankruptcy. Active in the service industry (monthly subscription type). How would you go about it, to ensure competitor's customers are stumbling upon you as an alternative? Curious to hear about your thoughts! Maybe some have gone through that already? Thanks a lot

Answer 1

Try to buy their online assets

Comments

@cabin this

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@cabin yup this but there is much more that goes into it.  There are some bankruptcies that allow the sale some that don't. There can be bidding wars. I was in one and I got it for half of the other two bidders because I developed a connection with the owner and he felt better selling to me on behalf of my client because he knew that the brand would be spoken about with grace.  

Answer 2

Google Ads. Facebook ads if you can target them appropriately. And I would see if I could buy whatever assets they are willing to part with.  

Comments

Thanks! @cabin @boatload would you mind expanding on what "assets" refers to here? Want to make sure to understand :)

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@ulna92 websites they own. Facebook pages. Twitter accounts. YouTube channel. AdWords and Analytics accounts. That kind of stuff.  

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Clear, noted  

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@ulna92 They are worth more to you than anyone else so grab them cheap, if possible

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@ulna92 Get their phone number ASAP

Answer 3

Buy the domain url and if possible social media accounts Contact the listed liquidator and make sure they auction the and you bid for it

Answer 4

Don’t forget to bid on search for brand + bankruptcy related keywords. Write SEO-focused content like comparisons, brand + alternative and capitalize on why you’re not going bankrupt  

Answer 5

I have dealt with this exact issue. Be forward (and kind. that goes a long way) and approach them with an offer for the domain, social, and any databases they might have that might be useful. They may not be able to sell anything because of the conditions of the bankruptcy. However there are some clauses that allow the owner to sell data and the domain. If you can get those at a reasonable price do it. Redirect the URL. Put out a press release about what has happened and how it's sad to see a closure of the company and say that you are now here to meet the needs. Use SEO keywords in the press release. Then send something similar to the email list and through social that you acquire. Connect with their customer base in a kind and considerate way. Any other questions let me know  Good luck!  

Answer 6

What are the competitors' customers going to search as they look for alternative solutions? { competitor } alternative alternatives to { competitor } { service } like { competitor } similar to { competitor } { service } similar to { competitor } { competitor } vs { your solution }