Why Lance Armstrong on a post about competitors? Simple. Focusing on what your competitors are doing takes the focus off doing the right things. Years ago while teaching a graduate class on marketing, we split the class into five teams and set them up as competitors. Four of the teams spent a great deal of their time trying to figure out what the other teams were doing. But team three ignored the others and won. Why? Because they understood who they were competing against – the customer’s needs and complaints. While the other four teams spent time on names and slogans, Team Three named the company quickly, figured out the client’s most pressing issue and developed a tagline around it thus starting a sales conversation in their identity.
While Lance Armstrong’s brand was brought to the public’s attention via his wins, he won because he knew how to define the competition and focus on winning. His physical condition, training regiment, and equipment were they keys to his wins. If he had spent time looking over his shoulder instead of down the road, the horizon would have been crowded by the backs of other cyclists in the race.
It’s easy to define your competition – simply make a list of the complaints and issues your prospects and customers have that you can address. Get granular because building a feature-rich service or product that will sell starts by knowing why someone wants or needs it. List as many as you can and then ask others to rank them. Now go out and build, market and sell.
Last week I met with several clients and interviewed sales and marketing professionals. Here is the story of two sales people …
It’s time to play catch-up or better yet, leap frog some internal challenges. For the past year, I’ve been speaking to business audiences about the importance of seeing the enterprise as a single social entity that knows enough about about customer/client behavior to change competitive landscapes. The challenge for many businesses is that they still direct and manage their organizations in a way that re-enforces a culture of silos. Silos as it turns out, fear the sharing of information and this is the exact opposite of what customers and clients have outside the business.





