I’ve had the opportunity to talk to a number of IT Marketing/Sales and IT business leaders — ranging from small businesses to global enterprise companies to subject matter experts — On effective strategy to increase customers globally and capture the market share – Throughout my conversations with them, one of the Effective Strategy to Win Market Share is targeting laser-focused and importantly winning competitors customer base.
Competitors – Whether you want to admit it or not, they are out there and they are hungry for your customers using strategies to effectively convert them and grow their businesses
We have listed down 7 reasons why Competitive Technographics are effective Go-To-Market Strategy and Win BIG
- Win Competitor Customers: Our Technographics enable you to know competitors’ customers. Those are the right targets for you to replace as your customers. If you have a better solution or have a better support, pricing than your competitors, winning these accounts is a breeze.
- Technographics gives a great level of information in identifying the competitive strategies and make your marketing strategies keeping in mind your competitors’ approach.
- Global Expansion: Know who your Global competitors are which can be a threat soon in your local market, once they expand. Technographics can help counter the competitors’ moves to out-market you.
- Technographics can help in identifying the target accounts or MHAs (Must Have Accounts), straight from the competitive clientele. Now reach out to their top customers and convert them into yours.
- Research Your Competitors’ Customer Base – Keep the interviews brief but thorough enough to obtain useful information for your campaign to create marketing strategies that take advantage of your competitors’ weaknesses, and improve your own business performance
- Offer a Solution Your Competitors Don’t Have – truly understanding who your customers are and what they need makes it SO much easier to express why your products or services are the best fit for them
- You can then plan your own strategies so that you keep your customers and win (not steal) customers away from competitors
Recent research from Accenture backs this up, demonstrating that brand loyalty isn’t what it used to be:
- 77% of people retract their brand loyalty faster than they did three years ago
- 61% of people have switched brands within the last year
- 78% of Millennials say that brands have to work harder to secure their loyalty
Conclusion: The next best thing about your competitors’ customers is that you probably already know a lot about them. They’re basically doppelgangers of your current customers, except they’ve clearly chosen the competitor side
Author: Sam Walker, Global Account Manager | Dutando | sam.walker@dutando.com
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