Positioning: Competitive Alternatives There are two main types of competitive alternatives: status quo and direct. As the name suggests, status quo alternatives are the things your current customers were doing before they adopted your product. That could include using a spreadsheet, hiring an intern to do it, or even doing it manually with a pen and paper. This could also include using a legacy solution or functionality that is included in a software package, such as a CRM or accounting system, to get the job done. Direct alternatives are products that buyers put on a shortlist of solutions during a purchase process.

Key takeaways: 1 Buying is hard 2 "Do nothing" is the most fearsome competitor you have. 3 A sales pitch is special. Companies tell different stories for different audiences and for different purposes. 4 A great sales pitch starts with your company's unique insight into the market not just following a trend. 5 Help customers understand their options and they will be better informed to make decisions confidently. 6 Differentiated value is the star of the show.

there are a million and one ways the positioning story can and should be incorporated into the company's marketing. Let's look at a few examples: - The explainer video - The buyer’s guide - Telling the story using a free version of the product - Visual elements and graphics - A conference talk - Research paper - A book

Sales Pitch: Common Mistakes An Ask That's Too Complicated Buyers don't necessarily know how to evaluate and purchase solutions. So, it's your job to make sure that the ask is straightforward and doesn't cause the prospect to second-guess whether they should accept your recommendation for how to move ahead. The Ask step should move the deal forward (assuming the prospect is a good fit for your solution) by giving the prospect a next step that is easy to say yes to.

Sales Pitch: Common Mistakes Proof That Doesn't Match the Prospeet's Situation In Step 6, Proof, some companies default to sharing a case study, and often use the same case study for every prospect. If your prospects are similar, this might be fine. But ideally you want your proof to connect to both the value themes you've covered and the individual prospect's situation. Wherever pou-sible, you want to have proof that matches the prospect. l'or example, if you are using a case study, it should reflect a similar industry or show a similar use ease, such as moving from the same status que solution.

Sales Pitch: Common Mistakes Weak or Undifferentiated Value Themes Your positioning is the fundamental input to the sales pitch. Weak positioning leads to a weak insight statement and will result in an ineffective story about how you are differentiated from the alternatives. Your Differentiated Value step is the most important input to the pitch because this is where you articulate what your solution can do for prospects that no alternative solution can deliver. If that value is weak or not very differentiated, then the pitch will not be compelling and is unlikely to work.