January 7, 2021
All well known brands have rivalries with their competitors. Coke vs Pepsi, Apple vs Google, Pizza Hutt vs Dominoes, the list goes on.
Some say that competition like this keeps companies fresh by having to constantly push innovation and marketing to get ahead. Others say that competition is dangerous and it's better to niche to a point where you're not competing against anyone.
But either way, if competition is a close rival or a distant threat, your customers will still be comparing your product against others when researching.
They want to know they are getting the best option; whether that be in price, in product features, or in product fit. They will inevitably do their research and compare all their options that are relevant to them.
Knowing this, you can get the upper hand. You can do the product comparison for them and structure it in a way that you always come out on top.
The online buying process revolves around the fact that the speed of researching options is much quicker then it used to be. It's not a painful process to find different solutions, in fact it's usually just clicking 4 to 5 options from Google's first search results page.
Customers browsing around at their different options is not common, it's inevitable. The subtleties of why a customer picks a competitor’s product over yours can come down to something as simple as them finding a relevant feature quicker, or having pricing laid out in an easier to understand way.
Don't leave something like this up to chance. Show your customers why picking your product is a no brainer.
No two products are made equal. There will always be advantages and disadvantages when comparing them together. So, rather than going into detail about every tit for tat comparison, you're better to lean into the best things you can offer against your competitor.
This doesn't mean you need to lie or twist your wording to sound more favorable. Instead, just highlight the best parts of your product that you provide that your competitor doesn't.
If those are the kinds of features your customer is searching for, then you're a lot more likely to have a new user. If it isn’t what they were looking for, then no harm done as it probably wasn't a good product fit for them anyway.
It's easy to have strong feelings towards a company that’s competing with you . Tension can get high when they release a new feature that looks pretty darn similar to a feature that you have.
As easy as it is to get carried away with how much better your product is compared to another, you shouldn't let it leak into your marketing and communication with potential customers.
Remember when Google made fun of Apple for removing the headphone jack? It didn't take long for people to backfire once Google also removed it not long after.
The issue here isn't about shooting yourself in the foot though, it's about staying professional. Customers can tell when you're purposely calling out another company, and it always comes across as unprofessional.
It's always better to show your understanding of the differences between your products, but without getting carried away with insulting comparisons.
Ever been frustrated when you find a product on display that you want without a price tag? It's tactics like this that might help with the sale in some circumstances, but will never not be annoying.
For this reason, you shouldn't get shy about comparing your price with your competitors, even if you are more expensive.
You might think that the sale is lost as soon as you're pricier, but if you show how the product you offer justifies the price difference, then there is just as much of an incentive for a customer to buy.
A common practice for the price comparison is showing the different features that you offer against your competitors with a tick list. Sure, they might be $5 cheaper per month, but you offer 24/7 customer support, better markdown capabilities, more detailed analytics; the list goes on.
Before someone is going to fork out their hard earned cash, it's natural that they will make sure that they're getting the best deal that’s on offer. This means that you already know customers will be looking around at their different options before they decide on one. Why leave a new sale to chance when you can pitch exactly why your product comes out on top.
Building landing pages to compare your product with another isn't uncommon, in-fact it's starting to become a norm. When you already have other landing pages built for other customer situations, this just becomes another factor that will give you a better chance of making a sale for a potential customer who is already looking around at their options.
Don't forget to keep in mind these main takeaways; leverage your best features, pass on insulting your competitors, and hone in on the price.
It's more important than ever to think about you can stand out amongst all the digital noise.
It can be tempting to jump right in and start designing, but there is value in making sure you sure you understand every aspect first.
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