Marketing Focus: Client or Competition?

Over the course of my career, I’ve seen people worry about the competition. What they are doing and how to develop either a good defense or offence.

I have to say that I’m mitigated about whether this is a good idea… One the hand it would be irresponsible to completely ignore the competition, what they are doing, their offer, positioning and pricing. I’ve always taken the time to review who’s targeting my clientele once a year.

That being, how much time to we focus we focus on really getting to know our own client base? Once a year? That may be not enough.

The successful businesses that I work with focus on their clients on a weekly basis during their team meetings. In addition, they have integrated into their overall processes ways to gather information about their clients.

How well do you know your clients? How comfortable are you answering these questions about your clients:

• Who are they (this should be the easiest one)?
• Why do they choose your product or services? (What makes you special?)
• Why do they choose you over the competition?
• How do they find you?
• What are their greatest challenges? Their greatest fear? Hopes? Joys?
• What makes them happy? Proud? Uncomfortable? Awkward?

Doesn’t being able to comfortably answer these questions make you one step ahead of the competition because you would then be able to effectively position your products, services and overall brand experience accordingly? Integrating this approach into your business will provide you with not only a good offence but also a sound defence!

Here’s a quick exercise to get you started. Though this is very basic, all of my most successful clients have implemented this very simple approach to keep themselves on the right track.

• On a flip chart or large piece of paper draw 2 circles. Label one circle “Client needs” and label the other circle “Product advantages”
• In the first circle list all of your client’s needs and the pains they are trying to solve (sticky notes may help)
• In the second circle list all of your products advantages.
• The intersection of the two is the basis of your value proposition.

Have fun!