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You Don’t Know Your Competition…

I’ll bet you just about anything that I know your competition better than you

Let’s make a little wager…

I’ll bet you just about anything that I know your competition better than you.

“How much?” you ask. Well, how much do you have?

Let me immediately apologize for the arrogant nature of the question. However, I still feel confident that I’ll win the bet. Not because I’m smarter, have researched more, or have some innate psychic abilities.

It’s because you think of the wrong business — or an incorrect individual — as your competition.

Most of us believe our competition is the company that is selling a product or service that is the most similar to our own. (Or, a professional who works for that company calling on customers and prospects in a similar territory to our own.)

However, from the customer’s standpoint, your competition is vastly different from that.

If I have a great night’s stay at a Ritz-Carlton, I do not say…”Wow! What a terrific experience…for a hotel.” I simply proclaim it to be a great experience. The great folks I’ve previously blogged about from Hare Chevrolet in Indianapolis deliver compelling service — not just from a car dealer’s standpoint…it is from a universal perspective.

Customers evaluate your delivery of service and creation of experience based upon the TOTALITY of their knowledge. The sum of their observations about the type of encounters they should expect when they do business is what generates their opinions about yours.

That means that your competition isn’t just the folks selling something similar to what you are. It means that Nordstrom, Starbucks, Ritz-Carlton, Apple…and even Taxi Terry…are your competition, too!

If they can deliver Ultimate Customer Experiences (TM), then your clients and prospects cannot discern any reasons why you shouldn’t, either.

So…forget the bet. Now you know the trick.

However, shouldn’t it make you want to re-evaluate your approach, just a little?

Read the original blog entry...

More Stories By Scott McKain

Scott McKain is a business leader, bestselling author, and Hall of Fame professional speaker.
Scott's latest book, "The Collapse of Distinction: Stand Out and Move Up While Your Competition Fails" reached the #1 spot on Amazon.com list of Customer Service Bestsellers! He is the author of two #1 additional business bestsellers (Amazon.com & 800-CEO-READ): "What Customers REALLY Want" (currently available in trade paperback) and "ALL Business is Show Business."
He is the Co-founder and Principal of The Value Added Institute, a think-tank that examines the role of the customer experience in creating significant advances in the level of client loyalty, and has appeared on multiple occasions as a commentator and analyst on FOX News Channel. His platform presentations have run the gamut from the White House lawn with the President in the audience carried live on CNN and NBC's "Today" show...to a remote outpost near the Amazon...all 50 states, seven Canadian provinces...and from Singapore to Sweden...Mexico to Morocco.
An inductee into the Professional Speakers Hall of Fame, he is also a member of "Speakers Roundtable" -- an elite, invitation-only group of twenty of the world's top business speakers.