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| | Changing Your Position When There's CompetitionWritten by C.J.Hayden
Are you finding many of your best prospects already working with competitors? When you pursue a new opportunity, is someone else capturing prize? Maybe it's time to re-evaluate your positioning. Your market position is place you occupy in mind of your prospective clients. It's how they think of you as compared to your competitors. Adjectives like established or cutting-edge; high-quality or inexpensive; convenient or full-service are all relative terms. When applied to you and your business, they distinguish you from competition. Your clients' impression of how your business compares can determine whether they work with you or not. Try conducting some competitive research to find out what it is that clients like about people you compete with. Are those qualities you can emulate? In what areas are clients not as satisfied? Could you offer more satisfaction there? Ask your current and former clients about their experience with competition. They may be quite candid with you about what they liked and didn't like, and give you some valuable insight into why they chose you. Check out how your competitors are positioning themselves by surfing Net. Mission statements, lists of features and benefits, etc. will often be posted on their web sites. You can also have a friend request their literature, or hire a professional market researcher. Target market research can help if prospects are telling you they don't need what you are offering. If you think they need a team-building retreat, but they are looking for more skills training, you won't make a sale. If you learn more about how prospects view their own challenges, you can develop a new market position to better match their mental, or real-life, purchase order. Your retreat might fly if you called it "an intensive three-day training program in critical skills needed for effective teamwork."
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