Written by: Vickie Sullivan | September 08, 2016
Your Best Response when Disrupted By Low-Cost Competitors
Many thought leaders in the speaking space have felt the pain of being disrupted by low-cost competitors. Think about it: How many times have you heard the ol’ “Well, this year we’re using internal speakers/free speakers …”
Let’s face it: We’re not the only industry facing nimble competitors who are undercutting our price. According to this Strategy + Business article, the banking industry is getting hammered, too.
Look past the examples and check out the options. The third way caught my eye: using the position of trust as a competitive advantage. Hmmm. Think about it this way: We are being disrupted not by content, but by format and price. So, what would happen if we partnered with someone who excelled in a different format? Would that bring the price down? You betcha.
Related: Disruptions: 3 Steps to Deal With New (and Crazy) Competitors
Here’s an example from my fertile imagination: Could a sought-after (and expensive) speaker partner with a tech firm to bring lower-cost alternatives that augment internal speakers? Could internal facilitators use games/certification programs to use your content to its fullest? Why not?
Perhaps we speakers need to not focus on our roles, but on our greatest gift: the message. If we expand our distribution systems to get that content out there, maybe we join forces with the very people who are undercutting us. If bankers can do it, maybe we can, too. Just sayin’.
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