Copying features isn't as easy as the marketers think it is. But why bother to do that when you can simply say you have capabilities you don't? Are you competing against dirty liars? Here's how to fight back.
God tier post, April - 100 x a day frustrating. Fortunately I've positioned well (after studying your books) and intuited some of these strategies, and I (Geeq) still have our reputation in blockchain which makes us an island in an ocean of muck.
That reminds me, I think I own a domain called "angryfounders", which I should start.
Here's my relevant comment: get over the idea of being nice and not saying anything critical. I keep comparisons grounded in facts. Still have the disadvantage of being the one that needs traction, and no one bothers to argue with me - which I actually wish they would.
It's heartening to see you advocating fighting back in black and white. If we don't fight back, nothing will change, right?
I'll admit, sometimes I wonder if I'm modulating my tone correctly. It's one thing to say facts in a thoughtful way; and then there are those times when I want to grab people by the collar, or pull a Cher-Nicolas Cage moment in Moonstruck.
Years ago I had a competitor that was the leader in "crowing about themselves" in a maturing segment. My product did what they did (the commodity stuff) but also a key new set of security functionality - all the rage at the time. They kept putting my sales teams on the back foot by claiming they did security too. To counter, I created a set of six questions to give to the customer for them to specifically ask the competitor how they did that part of security. Boom!
It's great to ask those questions as a vendor. It's even better when the customer asks the vendor and they can't answer or the answer is obviously a lie.
This is stellar! So many VCs think they can throw money at a new shiny toy and displace all of the other vendors in that space. That's not how it works. I remember a new Chief Product Officer coming to me and telling me I should put "we're the #1 xx" on our website and I rolled my eyes, but he was friends with the CEO so I was forced to do it. It got us zero credibility (even though we were actually #1). So many relatable points in this post! Thanks for posting!
Been in that same situation. There's several ways to say you're #1 without using that specific terminology. It goes to what matters most to your target and their risk aversion. Biggest, longest time in the segment, best ratings, easiest to do business with, etc. FinServ are notorious for not wanting to be the first one in the pool and terrified of being the last. "Trusted by more global banks" and then show the receipts would be a lot more effective than some empty claim.
I think customers see the leader in the market as a safe choice, so for that reason, if you are number 1 in the market, I believe you should say so. That said, if you can't prove it, be prepared for your prospects to doubt you and your competitors to challenge you.
God tier post, April - 100 x a day frustrating. Fortunately I've positioned well (after studying your books) and intuited some of these strategies, and I (Geeq) still have our reputation in blockchain which makes us an island in an ocean of muck.
That reminds me, I think I own a domain called "angryfounders", which I should start.
Here's my relevant comment: get over the idea of being nice and not saying anything critical. I keep comparisons grounded in facts. Still have the disadvantage of being the one that needs traction, and no one bothers to argue with me - which I actually wish they would.
Haha -thanks!
We have to fight back with facts when the competition starts to tell lies. Ignoring the problem will make it much much worse
It's heartening to see you advocating fighting back in black and white. If we don't fight back, nothing will change, right?
I'll admit, sometimes I wonder if I'm modulating my tone correctly. It's one thing to say facts in a thoughtful way; and then there are those times when I want to grab people by the collar, or pull a Cher-Nicolas Cage moment in Moonstruck.
Have a good weekend, everyone.
Years ago I had a competitor that was the leader in "crowing about themselves" in a maturing segment. My product did what they did (the commodity stuff) but also a key new set of security functionality - all the rage at the time. They kept putting my sales teams on the back foot by claiming they did security too. To counter, I created a set of six questions to give to the customer for them to specifically ask the competitor how they did that part of security. Boom!
It's great to ask those questions as a vendor. It's even better when the customer asks the vendor and they can't answer or the answer is obviously a lie.
This is the way to do it. The more we educate the buyers, the more we disadvantage the lying liars!
This is stellar! So many VCs think they can throw money at a new shiny toy and displace all of the other vendors in that space. That's not how it works. I remember a new Chief Product Officer coming to me and telling me I should put "we're the #1 xx" on our website and I rolled my eyes, but he was friends with the CEO so I was forced to do it. It got us zero credibility (even though we were actually #1). So many relatable points in this post! Thanks for posting!
Been in that same situation. There's several ways to say you're #1 without using that specific terminology. It goes to what matters most to your target and their risk aversion. Biggest, longest time in the segment, best ratings, easiest to do business with, etc. FinServ are notorious for not wanting to be the first one in the pool and terrified of being the last. "Trusted by more global banks" and then show the receipts would be a lot more effective than some empty claim.
This is a good point - specificity is really critical here.
I think customers see the leader in the market as a safe choice, so for that reason, if you are number 1 in the market, I believe you should say so. That said, if you can't prove it, be prepared for your prospects to doubt you and your competitors to challenge you.