The first level of competitive advantage – Location – is when you brag about your location proximity. “We’re closest to your business.” But distribution has become much more efficient, removing the value of being so close to your buyers.
Markets then moved to the second level of competitive advantage – Better Products – saying “Our products are better than theirs with better quality, durability and functionality.” But that messaging got neutralized with the growth in quality programs so most buyers today see little difference in competitive products.
Next, competitive advantage shifted to the third level – Service – saying, “Even if you don’t see differences in our products, we’ll provide you with better support.” But your better service was easier to match than any product differences.
In the fourth phase – Branding – you talked about how buyers can trust your brand name, even if they see little differences in your products or services.
In phase five – East of Use, competitive differentiation focused on the Amazon model promoting your speed, simplicity and ease of doing business.
Today we’re in Phase 6 – Connectivity & Information Control, the most significant way to increase your competitive advantage is to promote how you are more connected to buyers by helping them manage their information.
Where is your competitive advantage and what are you doing as a team to raise it to a higher level? The higher you go up on this competitive pyramid, the more persuasive and effective you’ll be and the less competition you’re going to have.
Today’s video explains these six levels of competitive awareness and positioning, and how, by selling at a higher value (or phase) of competitive awareness…you can sell even more!