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Let's Clear This Up
Threat categories & recommended software for competitive intel
I’ve seen a version of this post at least a dozen times…
And this is what I do every time I read it…
Let’s clear things up, because it’s a common but grossly simplified way of thinking about threats to your business. Status quo is one category of threat. But we also have direct, indirect, and adjacent competitors that we need to consider.
Each of these threats is different and requires a unique strategy!
For example, let’s pretend we work for Slack. Here’s how we might describe and break down each threat at a high level.
Status Quo:
Examples: Traditional email systems like Outlook or Gmail
Why: Many companies rely on traditional email for internal communication. Slack needs to convince them to adopt real-time messaging and collaboration tools instead of sticking with their existing email systems.
Strategy: Highlight the benefits of real-time communication and collaboration over traditional email systems, and offer easy migration tools to make the switch simple.
Direct Competitors:
Example: Microsoft Teams
Why: Microsoft Teams offers similar features to Slack, such as messaging, video calls, and integrations with other apps. They compete directly on user experience, feature sets, pricing, and integrations.
Strategy: Differentiate with unique features, better user experience, and competitive pricing to sway buyers evaluating both platforms. Sellers should be fully enabled to compete head-to-head here.
Indirect Competitors:
Example: Zoom
Why: Zoom is primarily a video conferencing tool, but it also offers chat and collaboration capabilities as secondary or supporting features. Slack competes indirectly with Zoom by offering some video conferencing capabilities but, like Zoom’s chat features, it’s not their main offering.
Strategy: Position Slack’s focus on real-time messaging as the most effective central hub for collaboration vs. Zoom’s video-first approach. Highlight Huddles feature and Zoom integration to show support for video as a secondary use case, as well
Adjacent Competitors:
Example: Atlassian (Jira/Confluence)
Why: Atlassian's products like Jira (for project management) and Confluence (for team collaboration and documentation) serve related needs to Slack and could potentially compete more directly with them by adding or enhancing communication features.
Strategy: Form strategic partnerships to integrate their services into Slack, providing a more seamless user experience. Meanwhile, innovate and add new native features that overlap with the most popular capabilities within those apps where possible.
Put it all together, and voila! You have a full view of your business’s competitive threats, and (roughly) what to do against each of them.
NEW 🧑💻
Recommended Tools
I put together a directory of recommend software and agencies to help you gather competitive intel, learn why you win or lose, and differentiate from other players in your space.
Each vendor on the list came from one of two places:
recommendations from the Healthy Competition community
conversations / demos I've seen from promising up-and-comers
Hopefully you discover some new tools you've never heard of before!
It's a living, breathing resource. So if I stumble on more, I'll be sure to add them in. Also, if there are any tools that are missing that you think should be included, fill out the form at the bottom of the directory and I’ll take a look at them! 🙂
EXAMPLES 🍊
Your weekly dose of vitamin C(ompete)
7Up’s "Uncola" campaign positioned it as a refreshing alternative to traditional colas. With quirky ads and a distinctive clear color, 7Up carved out its niche, challenging the cola giants and cementing its status as a soda mainstay.
COMPETE GEEKS ONLY 🛑✋
From the Community
Here are a couple threads that got folks talking this week.
“Wait, what’s the Healthy Competition Community again?”
It’s where 100+ Product Marketers and Competitive Intel practitioners connect and share tips to help each other win.
What'd you think of this week's newsletter? |
Here are some more goodies if you want to keep the party going:
Check out my swipe file (free). It has all my fav competitive marketing examples.
Listen or watch my podcast, Ready for Launch (free). I compete against my co-hosts, Jason and Tamara, to bring you the most interesting product launches.
Learn what Competitive Intel folks get paid (free). 100+ practitioners shared their anonymous salary data with me. Should be especially helpful if you’re looking for a new CI role or negotiating a raise.
Stay Healthy, my friends.
💚Andy
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