Too long; didn’t read (Tl;Dr), Netflix moved first and reimagined what consuming TV and movie programming would look like in the digital age.
Then, Netflix got into original programming and started competing with studios like HBO, which had made a name for itself by producing iconic TV series like The Sopranos, Sex and the City, and Game of Thrones.
But then HBO, along with Disney+, Amazon Prime, Apple+ (the list goes on and on), started competing on Netflix’s turf.
So now, you’ve got a highly saturated market, with a bunch of cord-cutters who are beginning to wonder why they cut the cable cord in the first place when they’re spending upwards of $100 a month for several subscriptions.
Consumers will start choosing only 2 (at most 3) streaming services.
So you’re a Competitive Enablement expert and you’ve built a compete program. And whether you have an enthusiastic leadership team or not, you need to start proving the results and worth of your program asap.
Too often, Enablement leads and PMMs reach for “influenced revenue” as a metric to show their impact.
Frankly, attributing a competitive enablement program’s success to things like win-rate, deal velocity and deal sizes, at best, leaves a lot to be desired.
As the salesperson in every good infomercial says:
“There must be a better way!”
That better way is to run a Competitive Confidence Survey to measure sales’ confidence in your compete program, and against your competitors.
By reporting on improvements in competitive confidence of your sellers as a whole — and against specific competitors — you can add a layer of quantitative data and context to the competitive story that you tell to leadership.
These results prove that you are enabling reps to win more competitive deals.
And winning more competitive deals? That’s how product marketers can truly influence revenue.
“But Ben, how do I get started?”
I’m glad you asked.
Head to our Resources page and download your Guide to Conducting Competitive Confidence Surveys.
You’ll get some great sample survey questions, best practices on how to run a survey, and thoughts on how you can put the results into action.
And for a deeper look at the secret to boosting sales confidence (told you we had a secret for you), check out our feature blog here.
Thanks for reading this week’s edition of Coffee & Compete. As always, please reach out to me and the rest of the team with your thoughts and feedback.
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