Your main competition, the ubiquitous status-quo: actions and inactions. Let's discuss!
A few that come to mind...
Ideal customers are:
- Using spreadsheets.
- Using search engines
- Doing nothing.
What else? I'd love your thoughts!
[BTW, this was edited!]
Replies
CY Zhou@lightfield
Vozo AI
great topic, Ethiriel! they may have other 2 choices like:
1. delegate to others, so that they can avoid using new tools
2. resort to ad-hoc solution, like a temporary workaround turning into a long-term habit
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✔ When you are selling into an organization, you are competing against their status quo, or "them doing nothing", as much as you are competing against similar products, or an incumbent product they may be already using.
✔ You are also selling against the buyer's FOFU - Fear of Effing Up.
For a big purchase decision, a VP may be betting their reputation or even betting their job.
✔ You are also selling against inaction. Buyers often perceive it's "safer" to do nothing and live with the business pain.
✔ Also, inaction due to "analysis paralysis." So much information available, and often it's difficult to compare apples-to-apples.
To answer your question Eithiriel most SaaS products out there are meant to improve on a legacy solution like spreadsheets or email. For example, much of the core functionality of Salesforce or Hubspot you could really do with free Google Sheets.
What is your real question, @nikkielizdemere, or can you explain in more detail what you are trying to solve or answer? Any context you want to share?
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@fabian_maume
Thanks for your thoughts!
To clarify, I'm particularly inquiring about status-quo competitors ubiquitous to #startups — such as actions and inactions — vs. other specific startups.
For ex., ideal customers are:
- Using spreadsheets.
- Using search engines.
- Doing nothing.
Hey Ethiriel. There are two costs (doing nothing, switching). If you have a competitor with super low friction in terms of switching then that's one you need to watch out for. I talk about that here https://www.enchanting.io/p/get-...
@anup_surendran Right! Great concept to revisit, thanks!
Absolutely, Eithiriel, you're spot on about the competition from the status quo. Here are a few additional thoughts from my experience in the IT industry:
Ideal Customers Are Also:
Relying on Legacy Systems: Many companies stick with outdated software because it's familiar and "good enough" despite its inefficiencies.
Using In-House Solutions: Some organizations develop their own tools internally, which can be resistant to adopting new solutions.
Manual Processes: Many workflows are still heavily manual, involving repetitive tasks that could be automated with the right tools.
Partial Digital Adoption: Companies might use digital tools but not to their full potential, mixing digital with a lot of paper-based processes.
Ad-Hoc Solutions: Using a mix of various free tools and services that don't integrate well, leading to fragmented workflows.
Security Concerns: Hesitant to adopt new technologies due to worries about data security and compliance with regulations.
Overcoming Inertia:
Highlight ROI: Demonstrate clear return on investment and cost savings.
Ease of Transition: Show how seamless and low-risk the transition can be from their current systems to your solution.
Testimonials and Case Studies: Use success stories from similar customers to build trust.
Trial Periods: Offer free trials or pilot programs to allow potential customers to experience the benefits firsthand.
Continuous Support: Emphasize ongoing support and training to ensure smooth adoption and usage.
Engaging customers who are comfortable with the status quo involves addressing their pain points and demonstrating how your solution can make their lives easier and their operations more efficient.
What are some strategies you’ve found effective in convincing customers to switch from the status quo?
Wingtap
Mine are probably either doing nothing or suffering in silence. Which one of the two are you? And I'm asking everyone on here :)
I'm making it easier for charities to do their work by helping you support them more easily. So yeah, how do you support nonprofits?