Join Jeff Bloomfield for an in-depth discussion in this video Don't get caught up, part of How to Analyze Sales Competitors.
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- As we have discussed, there are many ways…to analyze your competition.…The reality is that keeping up to date on your competition…can be a time consuming task.…At times, it can be too time consuming.…Think of it this way: a doctor can study medicine for years…and read every possible journal…and published work on diseases,…but unless he or she gets out there and practices medicine,…there isn't much use to all that study.…The same applies to analyzing your competition.…While it is clearly important to know what is going to…be going on with your competition now and in the future,…be careful not to get caught up in all that analysis…at the sacrifice of your job,…which is to go sell something.…
We sometimes call this paralysis by analysis.…If you spend all of your time researching your competition,…you fail to properly prepare for what you need to do,…which is represent your own company.…How do you balance this need for competitive knowledge…with not getting bogged down in all the research?…We always like to suggest that you schedule time…
Jeff shows how tools like LinkedIn and Google Alerts can help you stay up to date on your competition's personnel and product updates, and how you can take advantage of the webinars, presentations, and other resources presented by your competition. Last, while competitor information is critical, it's ultimately more important for you to remember the value that your company brings. Jeff closes by explaining how you can best sell your company's products and services: by not getting too distracted by the competition.