Jason Oakley on LinkedIn: How your company thinks about competition
Competition matters to everyone in your organization, and I mean everybody. Sure, the extent to which competitors factor into the day-to-day decisions ...
Competition matters to everybody in your organization, and I mean everybody.
Sure, the extent to which competitors factor into the day-to-day decisions and actions of each team may vary, but there’s not one department that isn’t impacted by competition.
Marketing is competing for attention and mindshare. 🧠
They need positioning and differentiated messaging for your website, advertising, content, and campaigns.
They need to understand your competitor's go-to-market strategy, their strategic narrative, their ideal customer profile, the keywords they target, the tone they use, the events and communities they invest in.
It all helps determine how to invest budget wisely, where to play, and where to zig when others zag.
Sales is competing for dollars. 💰
They go head-to-head against your competition every day. Their credibility and livelihood rely on accurate competitive insights and an ability to deposition effectively.
They need tips on how to spot competitors in a deal, and differentiated messaging and talk-tracks to quickly dismiss them, handle objections, and position your solution to win.
They also must be ready for competitor sales tactics that can trip them up, stall deals, and create FUD.
Customer Success is competing for existing revenue. 💸
Especially in times of economic uncertainty, competitors are looking to where existing budget already exists — ie. your customer base.
Your CSMs need to know how to spot when existing customers are evaluating alternatives and be able to deposition those alternatives effectively.
They are your last defense against competitor churn — the worst kind of churn there is.
Product is competing to build the best solution. 🥇
They have the increasingly difficult challenge of outpacing competitors and building a differentiated product.
They need a deep understanding of competing products, their strengths, and weaknesses.
With a strong understanding of competing alternatives, and customer and market needs, product teams can spot unmet needs (gaps) in the market — clear ways for your company to differentiate.
HR/Recruiting is competing for the best people. 🧩
The best corporate strategy is useless without the right people to execute on it. Your HR and Recruiting teams are responsible for attracting and building a stronger team than your competitors.
With endless job options available to talented people, every HR team needs to differentiate their company, culture, salary, benefits, mission, and more, in order to compete.
This requires knowing the same thing for your competition.
Executives are competing for market share. 📈
They need to understand the market landscape today, but also how it will change over the next 2, 5, even 10 years.
They are concerned with today’s competition, but also tomorrow’s. They need market context in order to make big-swing decisions on things like acquisitions, funding rounds, entering new markets, strategic changes to packaging and pricing, etc.
But make no mistake, they also care about why you’re winning and losing deals, right now.
Are you responsible for enabling all of these people 👆 with competition insights and messaging?
If so, my hat’s off to you. 💁♂️🎩. It’s a tough job.
That’s why The Compete Network if bringing together some of the brightest minds in competitive enablement, to share how they’re doing this every day.
It’s called the Winner’s Circle: Competing Org-Wide
It’s happening on September 28th - 8AM PST / 11AM EST
You can register for the event by following the link in the comments 👇
There are going to be six short, tactical sessions — only 20 minutes each, all focusing on how to enable different parts of your organization to compete.
You’ll hear from:
Hope to see you there 👋
- Save your seat for the Winner Circle: Competing Org-Wide, happening on September 28th - 8AM PST / 11AM EST https://community.thecompetenetwork.com/public/events/compete-network-winners-circle