Posts Tagged ‘competitors’

Be The Best Option

People have options in life. Whenever you buy a product or service, you choose what to buy, based on the issue you want resolved. Your clients are the same, they have choices. You may know that you are the best and obvious choice for them, but here’s the problem: all of your competitors know that…

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The Problem with Competing On Price

The low price point, the discount, the “save money here”… charging less can be an appealing strategy to win a quick sale or big deal. The problem is that it is a short term fix with no long term tie-in. Below are 4 “Why Not”s and 1 “Okay Maybe” for competing on price. It Allows…

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How to Differentiate

A business can choose one specific area, or a combination of areas in which to build its competitive advantage. See the Infographic below for ideas on where to focus your energies for effective Differentiation.   Next week I will explain the process I perform with my clients to help them identify their key differentiators. Subscribe…

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How I work – Differentiation

Differentiation in business is what makes one company more attractive than another. The simplest differentiation is price, but it is also the weakest, because nobody wins in a price war. A media company client of mine was losing business to a more established, well known brand. I had the owner do an exercise to describe…

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Fighting Against the Status Quo

When selling, too many businesses forget that status quo is an option for their clients. Just because a prospect is “shopping around”, looking at new solutions, that is no certainty that they will, in fact, make a purchase. Why a prospect does not buy Adopting a new product, service, contact person… is itself a cost, well…

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What is a Budget Competitor

When making buying decisions, clients assign budgets to their needs. In a B2B environment, a budget is often assigned before the sales process begins.  What the budget tells At any moment in time, a budget is finite. A buyer determines how much, out of the available spend, can go towards solving the problems of the…

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How I work – Competitive Products

I worked with a software client whose CEO would say “We have no direct competition”. As they prepared to pitch for seed investment, I worried this statement would make them look like amateurs. Applying my belief that an intelligent question is more helpful than an intelligent answer, I used the theory of competition categories, the…

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Product Competition vs Replacement Competition

Identifying competitors is not as simple as it seems. As I introduced in last week’s post: there are many reasons why a prospect may choose not to buy, and each of these is a form of competition. Another product that does the exact same thing may seem to be the same as a replacement, but…

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4 Categories of Competitors Everyone Must Know

It is common to view one’s own business, service or product as unique. This is natural: the business founder has his or her own method, approach and passion. This is not always that obvious to clients, however; nor, and this is the harsh part, is it always relevant. When a prospect is making a purchasing…

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Status Quo – Your Main Competition

A lot of people are vying for your clients’ attention. As you strive to stand out from all the competition it is important to remember one thing: they can always do nothing. Buying Triggers Unless a client is responding to catastrophic change, buying remains an option, not an obligation. There are various reasons a client…

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