So, we covered how to create Competitive Maps and Competitive Product Profiles the last two weeks. Both good ways to start mapping out the competition at a high-level. Now, lets get into the weeds and talk about product vs. product comparisons for internal use.

The template I use for these documents has three pages, screenshots and descriptions below:

Basic description type information. Some key information for sales to understand the competitor in question, and the top 5 reasons to buy our product.

First part is a list of our top features, why its an advantage and what the competitors potential weakness may be. At the end, we should list out possible competitor strenghts or objections they may use against us.

Ahhh the always popular feature matrix. Whether we like it or not, Product Management is often requested for this type of information, so we should strive to provide it. Don't get hung up on what you know the competition says incorrectly about you, focus on key criteria buyers look for in your products, and don't shy away from calling out both your strenghts and weaknesses.

They key to providing this information to sales is honesty. We need to tell sales where we shine, and where we don't! Sales are not stupid people, they can use the ammunition to fight off objections which are bound to pop up, and position your products and solutions to set traps for the competition.

If you'd like the template I've described, just shoot me an email and I'd be happy to send it along. Next week, I'll cover a template for communicating critical information to sales in response to industry or competitor events.