Why a mid-marketer needs to consider the competitive frame and not just the competition

There’s an intrinsic value of knowing your competition. With this knowledge, a MidMarketer can gain a competitive edge. But the problem is competitive analyses can easily become myopic. Especially when that analysis consists of what might be considered “direct competitors.” So the issue becomes… is (the foundation) ultimately off base? A competitive frame exercise can help avoid this.

Have you ever said or heard someone around the office say, “We don’t really have any competition” or, “We don’t really consider anyone else competition.” While it’s admirable to be confident in the marketplace, it’s also foolish to believe that you have no competition.

Thinking that your competition is limited to specific companies may also leave you blind-sided.

Instead, consider the competitive “frame.”

Rather than identify other companies alone, the competitive frame outlines a more accurate picture, dictated more by how your buyers may really think and act. Consequently, it embraces all of what you compete against-not just who-sometimes assembling an array of choices not always obvious. (Arguably, the strength of our competitive frame will directly influence the strength and uniqueness of our product/service offer).

Considering the competitive frame helps mobilize your company to provide a more competitive offering that will help your product or service stand out.