I'm actually happy to find this competitor because it validates a lot of my thinking and confirms that a market exists for this type of service.

At this time the other company has a more "feature rich" solution already built which is very similar to what I would provide. My product is basically vaporware today.

I'm wondering how to approach my customers about this other site without pushing them to that solution. Sounds like you are suggesting to use a strong list of differentiators. That seems like a good idea.

Talking to some of the other guy's customers sounds good too.