Actions to take to consider the competitive frame

So, how can a MidMarketer build an accurate competitive frame? To start, download our Competitive Frame Analysis Grid in MidMarketer.com’s tool section.

Identify the complete landscape

(This means identify A, B, and C) A. Take on the buyer mind-set and begin to imagine all the available choices. This could be influenced by time, budgets, existing relationships, politics and a bevy of other factors. B.Identify as many unique competitors as possible. C.Explore “competitive options” (something other than use a specific competing company, product or service) such as:

• Doing nothing (same ‘ol)
• A temporary solution
• Do it themselves
• Hire a freelancer or consultant
• Hire a company that has some political or personal ties
• Try to mold a different solution

Building a more persuasive marketing message begins by developing more customer empathy. Why not make it the topic of your next planning meeting?

Make it real. Make a grid.

Construct an organized view of the competitive frame that will prove helpful in developing better ideas and better decisions.When you analyze your newfound competition, visualize the pros and cons of each and make them real. Map them out in a grid fashion, breaking the analysis down into areas such as:

• Quality
• Speed
• Cost
• Longevity
• Any other factors important to the customer

This grid becomes a quick snapshot of the landscape. Don’t expect specific or magic answers to always pop out, but pockets or overlaps that may be beneficial in developing or reviewing marketing strategies become easy to identify.

Be honest!

This means be objective. Jump on facts, resist bias and wishful thinking. Meaningful growth often begins with owning an honest and realistic analysis.This is very important-you don’t want to end up in a “selling yourself” spiral. (You know, the kind where you convince yourself that everyone else is doing it wrong and your company is the ONLY solution in the world!) This spiral only leads to poor marketing strategies and in turn, poor marketing and poor results.