Focus on the Competition

They are everywhere. You meet them in hospital halls, at the community health fair, sitting in the doctor's office and in the rehab center. They make sure you pick up your phone by the third ring, control your pricing and respond to your customers in a timely manner. They are called your competitors. And, despite talk of competitive bidding and changes in reimbursement, competitors just keep coming.

What do you need to know about your competition? Begin by developing an assessment form that allows you to review your competitors and become aware of how they affect your accounts and your business.

Sizing Up the Opposition

Track as much information about your competitors as you can. For each competitor assessment, include the following:

• Define what products they offer. >Since they are reaching potential customers in your community, what are they talking about to their customers?

• List what accounts they call on. Do you call on the same accounts? Often, you can tell by seeing their name on pads, marketing materials or other notices posted in customers' offices.

• Identify all of their sales representatives. You will want to know who your customers may be talking about when you meet with them.

• Define their product lines. Learn about their products and, possibly, who manufactures them. You may be competing not only with another company but also with their product lines. Also note the products they do not carry. You might consider adding them to your line, if those products are being requested. Be prepared to define the features and benefits of your products versus others on the market.

• Note all areas of the community the competition serves and does not serve. This will help you plan your company's future growth.

• Develop a list of their customers. As you make appointments and prepare for upcoming sales meetings, realize that your account is also giving business to someone else — sometimes simply because they don't know your company provides certain products. Make sure your accounts know the full range of products you offer.

Business Etiquette

When listening to others talk about your competition, consider these recommendations: