You’re a service provider in a market where 60% of potential users are engaged (our voter turnout is roughly 60% nationally).
First, you’ll probably ignore the minor firms because the investment isn’t worth the marginal gains and the diversity is good from a marketing perspective.
You could invest in current participants, make concessions, rate cuts, etc., in hopes of winning over competitor’s customers, something your competitor is also doing.
Expand your market.
Enfranchise progressive voters.
Invest in community outreach.
Organize the people you represent.
This is not complex.