What is it?
The Competitive Effect is all about focussing on the competitive nature of what your buyer is looking to achieve.
Why does it work?
From having the biggest to the most expensive, or scoring the highest score, many buyers are competitive by nature. This comes down to FOMO but also has overtones of achieving an advantage over the competition or being exclusive in one way or another. By incorporating an element of competition into your offering, you can tap into this desire to always be the first or the best which will result in buying the necessary things to achieve that outcome. (This is where you come in.)
How can you use it?
There are two ways this can be used and by definition, it’s not appropriate for every offering.
- The buyer is competing against themselves. Focus on the progress your buyer wants to make and how you can facilitate that transformation, implying that you are on the same team fighting against the same enemy.
- The buyer is competing against others. Here we need to focus on how your offering provides an inside track and an advantage over others. We’re still working with them to fight a common enemy, but the enemy is now another person/company rather than their previous high score 🙂