All the Whos That Matter to Your Business: Understand Your Clients and Competitors 🥸 (3/6)
A business is nothing without its clients. And that’s what Forbes puts next in your pitch, suggesting the three next sections as
- Market size
- Competition
- Competitive advantages
We could summarize all this as the Whos, & why them.
Who is a client
The worst answer you can give here is “anybody”.
Anybody is not your client, but somebody is. Describe that somebody.
There are two main criteria to decide who that somebody is:
- The person who likes what you offer
- The person who likes how you offer it
It is not enough to deliver a great solution. Your clients have to enjoy the journey.
Who is not a client
And here you can describe everybody else.
Think of all your worst clients. What about them was so challenging?
Now think about people you thought would be good clients, but weren’t. What made them difficult to work with?
Use this to decide who not to waste sales and marketing effort on. And remember: surface differences can be subtle.
Who else is there
… that your clients can turn to?
Remember that there are many ways your clients can find to replace you. They can pick a competitor that offers what you offer. They can DIY whatever they need to do. They can replace the need completely by changing plans. They can choose to do nothing and live with the pain.
In each of these scenarios, you’ve got to know why you’d be a better choice.
What next
This analysis and more are all part of my Loyal Customers consulting package. It starts with a free phone call: schedule 30 minutes to tell me what information you have now, and we can decide what to do next.