So you lost a project to a competitor? Why? What made the potential client pick them over you? Was it just price, time it took you to answer emails, or does your competitor offer something you don’t?
I’ve missed out on a few projects but I typically know why and most of the time I’m alright with that but sometimes it really baffles me and I have to stop and think about what made that client pick the other guy for the job.
The best way to think about this is to take the time and write down the services you offer and then write down what the competitor offers. A venn diagram works out nicely for this. It will help so you can clearly see the differences and the overlaps as well. By breaking down what you and the competitors are doing you can see what your strengths are and learn what you could improve or focus on so the next time you’ll win the job over them.
It may be crystal clear to you how your company is different, but I’ve learned that you need to spell it out. When you’re able to highlight your strengths, it’s going to help you stand out and this new client is going to see your value.
When you have a good understanding of what you offer that’s unique to your competitors you then have some key talking points that you can focus on to help new customers understand your value which will help them make a better decision.
If you were advising a friend, in what situations would you recommend your competitor over you? Is this an area you should improve on so you’re not missing out on that work? Maybe it’s not the work you want to focus on and that’s fine. But when you understand where you overlap with your competitors and how you differ it will help you answer why a new client should choose your service over the others.