What will you do when a competitor invades your online space?
This week one sales coaching professional at The Sales Mechanic told us that business owners are “either fighting back, or hiding under their desks.”
If your organization finds itself in the midst of heavy online competition, here are a few critical items to consider:
1 – Are They My Competitor? The key criterion is that if they are competing for the same dollar from your end customer then the answer is a resounding “yes”. All too often we see companies fear a competitor ‘in disguise’ that has no real threat to the organization’s overall success; and it is simply a matter of excellent branding that has caused this perception.
2 – Can We ‘Out Lead Them’? Most of the time business owners are concerned with closing rates, contract values, etc. However, nothing in business happens unless a sale is made. So if all of these other variables remain constant, the winning company will be the one that can generate the most qualified prospects in a given online market.
3 – Are We Willing To Do Something About It? How many board rooms and conference rooms across the United States contain owners and executives having these types of critical, company changing, conversations? Probably several. Some will choose to implement these changes and others will not. However, it is the companies and their forward-thinking leaders that choose to act on these decisions that will really differentiate them in their given online markets.
4 – When Should We Ask For Help? At some point, your organization decided to outsource some of its services to an expert because it made more sense than to attempt to perform them on your own. For example, these may have been your accounting, legal, or HR needs that were off-loaded to an industry expert. So why not your online marketing?
If it meant your company fighting back and winning and your competitors hiding under their desk, wouldn’t it be worth it?
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