do you know your universe.ppt

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Do you know your

Universe?Are you facing Hyper-competition?

Assignment• Who are the Top 5 competitive threats in your service area? • Why are they so big a threat?• How do you reduce the threat?

• Set up a team to;• Gather Information• Analyze your space• Evaluate• Measure• Game Plan

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Key sources of information

• Web Sites• Competitive intelligence• Internal data base information• Past Plans• Lost Business• New Business

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Identify the Competition

• Declare your territory

• Is that what you thought?

• How many vendors are in your space

• What kind of enterprises are you competing against?

• Stack Rank the businesses

• Determine market share (You/Them)

Outlining the Competition

SET UP A MARKET PERSPECTIVE• National Presence

• Regional Player

• Niche Market Business

• Product

• Service

• Non-Traditional

• Strategy

KEY COMPETITIVE INSIGHTS• What is their go to market strategy?

• Identify their services, price strategies, unique products

• Map their breath of service

• 1-2 Slides per Vendor

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What are the Results?

• Where have you won?

• Where have you lost

• Who are you going after today?

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How do you reduce the threat?

• Do not under-estimate competition• You can’t rationalize lost work

• Create tactical strategies to go on the offense and create havoc with competitors that are doing the same to you

• Change pricing tactics-raising or lowering prices to be less predictable

• Know your targeted contract expiration dates

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How do we reduce the threat?

• Know your targeted contract expiration dates

• Re-develop your program summary • Make sure you are well versed

•Talk track (Presentation)•Discovery (Sequence to look at all opportunity)•Proposal Outline•Actual field follow-up

• Identify and pursue high-density locations/opportunities

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Protect your base• Improve account ownership• Analyze your frequency of visitation• Log key discussion points • Develop a Business Review proposal document so that you are: • Benchmarking and tracking key performance • Have up date contacts at all levels of management• Insure you are working an agreed upon game plan with your

customer• Deliver what you promise

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Summary

• Improve your process• Get strategic • It is getting to the end of the year,

maybe a good time to review?• Ask yourself if you know your

universe better than your competition

• If you do, you will improve your likelihood of success