|
On the other hand, neglecting to discuss how your products or services compare to known competition can be even more hazardous. By presenting how you compare to known competition, you take control of communications, rather than leaving it up to your competitors to define how you compare to them.
How should you address your competition? Start by classifying your market type:
1) Unawares: Your service is new or not widely known and customers usually aren’t aware it exists.
Your presentation must educate prospective customers about why your service exists and why customers should use it. If the alternative to using your service is to do the work in-house, then you must show how you can do the work better and faster. You might even show how you can do the work less expensively. You do not need to discuss your competition.
If you are concerned that your audience might want to discuss competition, then create "back pocket" slides that show why you are better than competitors. These slides should be kept in your briefcase or in a separate electronic presentation, and only shown if they are needed.
2) Limiteds: You have a few well-known competitors.
Your presentation must address specific competitors since there’s a good chance that your customers will study them or possibly meet with them. Consider your "points of parity", or what you do that your competitors do, and consider your "points of differentiation", or what makes you different and more valuable. Present both sets of points to prospective customers so that the takeaway is "we have the same attributes as these popular competitors, but we also do these things, which makes us much more valuable to you."
3) Commodity: Your product or service is a commodity.
You’re industry is mature and you should acknowledge this fact without naming specific competitors. Instead, highlight why you are different throughout your presentation. It might be because your products are less expensive, because you offer better service along with the products, or some other reason. This is your chance to break out of the confusing pack of "me-too's".
Your presentation is an opportunity to educate your prospective customer about your products or services, why they are superior to alternatives, and why they are the only ones that should be considered.
| 
