A Buyer-Centric Approach to Competitive Positioning

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May 30, 2024

Exploring competitive positioning in B2B sales, the podcast covers strategies for facing status quo, direct, and 'do nothing' competitors. It emphasizes the importance of value proposition, deal champions, objection handling, and reducing customer indecision. Tips include disqualifying unqualified leads, addressing objections, and educating customers on trade-offs.

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INSIGHT

Varied Perceptions of Competitors

Different teams perceive competitors differently.
Sales focuses on short-listed rivals, while product teams look at future threats.

INSIGHT

Three Competitor Types

April Dunford describes three competitor types: status quo, direct, and "do nothing".
"Do nothing" often signifies customer indecision, not a preference for the current solution.

ADVICE

Competing with Status Quo

To compete with status quo, demonstrate your product's value.
Also, minimize switching pains.

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In today’s episode, I explore the different types of competitors you face and how you can position yourself against each of them.

You will learn:

* How different departments or groups in a company (e.g. sales, product development, etc.) view and define competitors differently.

* The 3 types of competitors: (1) status quo competitors, (2) direct competitors, and (3) “do nothing” competitors.

* Positioning yourself against status quo competitors requires nailing your value versus the status quo, and understanding a customer’s pain of changing from the status quo over to you.

* Positing yourself against direct competitors entails leaning into your differentiated value, as compared to your competition.

* Positioning yourself against “do nothing” competitors involves understanding why customers evaluated you and your competitors, yet became indecisive and didn’t pick any solution/product/service.

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If you want to skip ahead:

(4:36) Positioning against competitors in B2B sales.

(9:59) Winning strategies for B2B sales, including disqualifying unqualified leads and addressing indecision in purchasing decisions.

(14:45) Handling objections, increasing confidence in purchase decisions, and educating customers on trade-offs.

(19:56) Ways to reduce customer indecision in sales deals.

(24:53) Sales strategies for tech companies, focusing on positioning, best-fit customers, and risk mitigation.

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Connect with April Dunford and learn about practical positioning that accelerates marketing and sales:

Work with April: https://www.aprildunford.com/contact

April’s newsletter: https://aprildunford.substack.com/

April’s LinkedIn: https://www.linkedin.com/in/aprildunford/

April’s Twitter/X: https://twitter.com/aprildunford

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Mentioned in this episode:

* April Dunford’s article/newsletter about this topic: https://aprildunford.substack.com/p/a-buyer-centric-approach-to-competitive

* To get the free templates related to April Dunford’s two books, go to https://www.aprildunford.com/books and sign up for the newsletter; then you’ll receive an email to download the free templates.

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Get April Dunford’s books and audiobooks:

“Obviously Awesome: How to Nail Product Positioning so Customers Get It, Buy It, Love It.”

“Sales Pitch: How to Craft a Story to Stand Out and Win.”

Amazon US: https://amzn.to/49l0ZRY

Amazon Canada: https://amzn.to/4ac9hgt

Amazon UK: https://amzn.to/3vosDzQ

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The Positioning with April Dunford podcast: Want to make your product stand out in a crowded market? It all starts with great positioning. Using April’s battle-tested methodology, she'll teach you the nitty-gritty of positioning so that you can unlock better marketing and sales performance.

Podcast website: https://www.positioning.show/

Subscribe on Apple Podcasts: https://apple.co/3PFHcWx

Subscribe on Spotify: https://spoti.fi/4aqyDqI

Subscribe on YouTube: https://www.youtube.com/@positioningshow

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This episode was produced by Story On Media & Marketing: https://www.SuccessWithStories.com