It is clear that competition today is more intense than ever, and to be competitive you need every advantage to win. But convincing companies with features is no longer a successful option. The fact that your product is a better quality or your service is better won’t convince the customer until you have earned their attention. Think about it because many of your competitors will be saying the exact same thing! Dr. Tony Alessandra, international subject matter expert on engaging with people effectively is our September Prosperity Series Expert. Tony says you must “define quality or show how your service differs from the competition” in order to even begin the process of getting yourself in the door.
He breaks down your competitive advantage to these 4 distinct categories:
- Competitive Uniqueness: What can I do for my customers that no one else can do? What can I offer that no one else can offer?
- Competitive Advantage: What can I do for my customer that my competitor can also do, but I can do it better and I can prove it?
- Competitive Parity: Objectively speaking, my competitors and I are the same here — no real differentiation.
- Competitive Disadvantages: Where does the competition have an advantage over me?
Here Tony cites some great examples:
- Competitive Uniqueness – Exists if a pharmaceutical company receives FDA approval to sell a new drug. Since no one else has the drug, this company now has a competitive uniqueness with this drug.
- Competitive Advantage – Might be where two companies market the same drug, but one is a large well-known company with wide name recognition and the other is a small relatively unknown company. If no real competitive advantage exists in your product, try to focus on your company reputation, your excellent service, your responsiveness and reliability, or any other factors than can positively differentiate you from your competition.
- Competitive Parity — Ask yourself, this, “What things are the same between the competition and me but are still important to the customer? Birth control pills are a good example. Several ethical drug companies make different formulations, but all with similar records for preventing pregnancy.
- Competitive Disadvantage —What does the competition do better than you do? Your drug may have more side effects than the competitor’s.
Tony states that by doing this analysis, you’ll be in a position to help your customers distinguish between you and your competition. Join us on September 16th for our after summer TPS kickoff and get the full spectrum of competitive advantage from this world renowned expert.
Dr. Tony will share:
- What you need to know to fully discover your competitive advantage.
- How to better know and be able to articulate, your competitive advantage.
- How to set yourself apart from your competition and clearly show your customers what your company can do for them that no one else can do.
Mark your calendars NOW and get there early for coffee and networking!
Early registrations have some great incentives so click here and REGISTER now!