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RckChlkG33k

AE (Account Executive)

Big Shot
Politicker
Valued Contributor
+7

How to Fine Tune Competitive Analysis to Eliminiate Competitors in Individual Pursuits

Hey Y'all,


I've got my first million-dollar deal coming up, and I'm trying to do everything I can to secure the bag.


I got my MBA (insert boos and jeers here) and I'm no stranger to competitive analysis. That said, I'm having a hard time finding anything that's useful when looking at individual pursuits and your competition instead of an entire corporation or industry.


I'm partial to SWOT because it's easier to do and easier for people to digest, but it's not giving me everything I need.


How do y'all plan and eliminate competition in your deals?

👑 Sales Strategy
☁️ Software Tech
🧠 Advice
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9 comments

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LordOfWar
Tycoon
5
Blow it up
SWOT is a good start as it not only shows your threats but also areas your company is not so good at which can be taken advantage of by competitors. I usually start and work from there.

I would try and look at any past projects that your competitors have won and try to find out how/why. How are they winning clients and why are they losing clients?

Are they public? Search earnings and see if there are any recent ownership changes/appointments. Did they get a bunch of funding recently or maybe missed a big earnings target? Any recent acquisitions that add capability or maybe even complicate the sales and delivery process?

What projects do they currently have? Can they even accommodate this new one? Many will over-extend themselves but customers don't want to work with a company that can't give them the attention they want.
RckChlkG33k
Big Shot
0
AE (Account Executive)
This is solid. Thank you!
braintank
Politicker
4
Enterprise Account Executive
Control decision criteria so you box them out from beginning
jefe
Arsonist
2
🍁
I think you're on the right track with SWOT, but I don't have a fancy MBA.
RckChlkG33k
Big Shot
1
AE (Account Executive)
I don't know if it's fancy, but it's definitely something.
jefe
Arsonist
1
🍁
Is it from KU? (guessing based on your handle)
SoccerandSales
Big Shot
2
Account Executive
I think the SWOT is smart, but it is more important that you get good discovery on what they are looking at and why.

The best question to use in my opinion is "what did you like about x when you looked at them". Puts a good taste in their mouth, but always opens the door for what they didn't like, which allows you to focus in those areas.
Kosta_Konfucius
Politicker
1
Sales Rep
Awesome!
Sunbunny31
Politicker
2
Sr Sales Executive 🐰
SWOT is great so you’re prepared, lots of good advice there. But braintank is right on - control the decision criteria and don’t let the competition wven get a toehold.

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