Competitor companies
Also known as: competitor accounts
In short
Competitor companies are businesses that solve the same problem as you for the same type of buyer. They fall into direct competitors, which sell a near-identical product, and indirect competitors, which solve the problem a different way.
For go-to-market teams, the list matters beyond market watching. It shapes messaging, shows which customers are open to switching, and tells you where your market already has proven demand.
Types of competitor companies
- Direct: Sell a similar product to the same buyer. A prospect will compare you side by side.
- Indirect: Solve the same problem with a different approach, such as a service firm or a broader platform with a feature that overlaps.
- Status quo: Spreadsheets, manual work, or doing nothing. This is often the competitor that wins most deals.
- Emerging: Early-stage companies moving toward your space. Watch them before they show up in deals.
How to identify them
Start with what your own team already knows, then widen the search with outside sources.
Ask the people closest to deals
Check the CRM for the competitor field on closed-won and closed-lost deals, and ask reps who they hear about on calls. Real deal data beats a guess.
Search the market
Look at review-site category pages, search results for your core problem keywords, and the "alternatives" pages prospects read. Note who appears repeatedly.
Use similarity data
Company databases can surface firms with similar descriptions, products, and customers. This is the same approach used to build lookalike lists.
How GTM teams use the list
- Messaging: Write comparison and objection-handling content around the specific alternatives buyers consider.
- Targeting: Companies that use a competitor already know the category and may be ready to switch, so they can be a priority segment.
- Win-loss review: Track which competitor appears in which segment, and where you win or lose most.
- Exclusions: Keep competitors off prospecting and ad lists so you do not alert them or waste budget.
Example
Say a team sells a scheduling tool to clinics. Its direct competitors are other scheduling products. Its indirect competitor is the clinic management suite with a basic calendar. Its status quo competitor is a front-desk spreadsheet. Each needs a different pitch, so the team writes three short battlecards instead of one.
Common mistakes
- Listing only direct competitors and ignoring the status quo.
- Building the list once and never updating it as new entrants appear.
- Targeting competitors as prospects by accident because they were not excluded.
- Judging competitors only on features instead of on who they sell to.
Competitor companies FAQs
What are competitor companies in B2B sales?
Competitor companies are businesses that sell a similar product to the same buyers as you, or solve the same problem a different way. Sales teams track them to shape messaging, handle objections, and find customers who may be open to switching.
How do you find your competitors for a go-to-market plan?
Check the competitor field on won and lost deals in your CRM, ask reps who comes up in calls, review category pages on review sites, and search the keywords buyers use. Company similarity data can also surface firms you have missed.
What is the difference between direct and indirect competitors?
A direct competitor sells a similar product to the same buyer, so prospects compare you head to head. An indirect competitor solves the same underlying problem in a different way, such as a broader platform, a service firm, or a manual process.
Should you target customers of your competitors?
Often yes. Companies already using a competing product understand the category and have budget. Check fit against your ideal customer profile first, and pair outreach with a reason to switch such as a contract renewal or a new leader.
