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Understanding the existing alternatives that your customers use to solve their problems is crucial when aiming to develop and market successful products or services. These alternatives — whether they are direct competitors, workarounds, or DIY methods — represent the status quo that your customers currently rely on. By identifying these existing solutions and analyzing their limitations, you can uncover valuable insights into unmet needs, customer frustrations, and opportunities for differentiation. What are the alternatives to your product or service?Knowing the alternatives gives you a clear view of your customer’s decision-making landscape. It highlights what your customers value, what trade-offs they are willing to accept, and what gaps persist in the current market. For example, if users are cobbling together spreadsheets, free tools, and manual processes to accomplish a task, it signals that no single solution fully meets their needs. This insight enables you to build products that offer greater integration, ease of use, or efficiency—qualities that directly address your customer’s pain points. Why don’t alternatives fully satisfy your customer?Understanding these alternatives reveals the specific shortcomings that your customers experience. These shortfalls might include poor usability, high costs, lack of customization, insufficient support, or simply the time and effort required to make the solution work. You can leverage this information not just to create better solutions, but also to shape compelling marketing messages. Demonstrating how a product overcomes the limitations of existing options helps build trust and quickly communicates value. Additionally, studying current alternatives helps you avoid building “me-too” products that fail to stand out. Sadly, I see this a lot in my advisory and fractional CXO work. Many startups and even established companies fall into the trap of replicating features without addressing the core frustrations users have with existing solutions. By contrast, companies that deeply understand the competitive landscape and customer experience can focus on meaningful innovation—enhancing the user journey in ways that matter most. Moreover, understanding existing alternatives supports strategic pricing, positioning, and customer segmentation. It allows you to determine whether to compete on price, quality, convenience, or a unique feature set. It also clarifies which market segments are most dissatisfied with current options and therefore more likely to adopt a new solution. The Takeaway.A thorough understanding of the alternatives your customers already use — and the shortcomings of those options — enables a company to build better products, communicate value more clearly, and position itself effectively in the market. It shifts innovation from guesswork to insight-driven strategy, ultimately increasing the likelihood of market success.
What about you? Does your organization fully understand the existing alternatives your customers use? Please comment – I’d love to hear your thoughts. Thanks, Tom Myers About the Author: Tom Myers is an accomplished business leader with over two decades of success building organizations from the ground up with multiple successful exits. He holds strong expertise in designing and implementing winning strategies, change management, improving operations, driving business development through sales, marketing, PR, and strategic partnerships, and effectively building and leading teams toward a common goal. He has effectively served in C-suite and Board positions in for-profit and non-profit organizations, and currently offers Fractional CXO and advisory services via V2R Ventures.
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 Does your company really understand your customers’ problem, who is suffering, and how much PAIN are they in? – V2R Whether I’m helping a startup or a more established business with its strategy, I’m struck how often I hear conflicting answers from management, staff, and customers when I ask… What is the PROBLEM we’re solving? That sounds like a simple question for any organization to sort out. However, I’m amazed how often a company’s management will (confidently) tell me what problem they are solving. Then I ask their staff, and get a different answer – and yet another answer when I ask their customers. Understanding the problems customers face is one of the most crucial responsibilities a company has. It goes far beyond simply offering a product or service — it requires actively listening to the market and empathizing with real human experiences. Without this deep understanding, companies risk creating solutions that miss the mark, as well as wasting time, money, and goodwill. Knowing exactly what problems exist, who experiences them, and how severe these issues are can be the difference between a thriving business and a failing one. At its core, business success stems from relevance. A company that understands its customers’ challenges is more likely to design products, services, and messaging that resonate. This begins with identifying the specific problem. Vague assumptions like “our users want convenience” aren’t actionable. A company must investigate the root of the problem:
Real understanding comes from interviews, data analysis, and customer feedback — not guesswork. Who exactly is suffering, and how bad is the pain?Equally important to WHAT is the problem, is identifying WHO suffers from the problem. Not every user experiences the same pain in the same way. Segmentation helps companies focus their efforts on the group that feels the pain most acutely, whether it’s first-time users confused by a process, small businesses unable to afford legacy tools, or busy parents juggling responsibilities. This clarity shapes product design, marketing, and prioritization. Finally, a company must understand the severity of the problem. Some issues are minor annoyances, while others are true pain points — barriers that create frustration, lost time, or even lost revenue. The more painful the problem, the more urgent and valuable a solution becomes. This determines not only how much customers are willing to pay, but also how quickly they’ll adopt a solution. Misjudging the severity can lead to overinvesting in solutions no one is desperate for — or worse, underestimating a critical need and losing customers to more attentive competitors. The Takeaway.When a company understands the problem, the person affected, and the pain level involved, it can act with precision and empathy. It can develop targeted solutions, communicate more persuasively, and earn customer trust. In today’s competitive landscape, customer understanding isn’t a luxury — it’s a necessity. It turns assumptions into insight, products into solutions, and customers into loyal advocates. What about you? Does your organization fully understand the problem it is trying to solve? Please comment – I’d love to hear your thoughts. Thanks, Tom Myers About the Author: Tom Myers is an accomplished business leader with over two decades of success building organizations from the ground up with multiple successful exits. He holds strong expertise in designing and implementing winning strategies, change management, improving operations, driving business development through sales, marketing, PR, and strategic partnerships, and effectively building and leading teams toward a common goal. He has effectively served in C-suite and Board positions in for-profit and non-profit organizations, and currently offers Fractional CXO and advisory services via V2R Ventures.
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AuthorTom Myers is an accomplished business leader with over two decades of success building organizations from the ground up with multiple successful exits. He holds strong expertise in designing and implementing winning strategies, change management, improving operations, driving business development through sales, marketing, PR, and strategic partnerships, and effectively building and leading teams toward a common goal. He has effectively served in C-suite and Board positions in for-profit and non-profit organizations, and currently offers Fractional CXO and advisory services via V2R Ventures. ArchivesCategories |
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