Written by: Vickie Sullivan | January 12, 2017
2 Ways to Keep Competitors from Taking Your Clients
In this age of disruptions, building a good business is only half the battle. What keeps us going is the ability to defend against competitors. And according to this TechCrunch article, the digital world has weakened our traditional defenses. (Duh!)
Look past the emphasis on startup companies. In fact, skim past the first half and get to the “four defensibilities of the digital world” section. B2B firms have two very big weapons here:
• Embedding. Regardless of your size, the stronger your relationships with clients, the less chance your competitors have to tempt them with a lower price. Ask yourself: How hard is it to replace me? What would a buyer have to do to get me outta here?
Listen: Two ways to make yourself indispensable to a client
• Branding. Being top of mind with clients prevents them from comparison shopping. (And yes, my geek husband didn’t even consider leaving Apple when we got new cell phones.) The biggest problem is that firms believe their assets (quality, service) are their differentiators. Yes, your clients may love your service levels, but that’s not enough to keep you top of mind.
The good news is buyers see change as a big hassle. There has to be a huge upside; make sure there isn’t one and your business can weather any storm.
Other Resources You May Like: