Selling Against the Competition in New Markets. The first step in achieving a competitive edge is to identify your competition and know their strengths and weaknesses in depth. The Flawed Sales Thinking – Beat the Competition in 10 Easy Steps There is a simple blindness that sometimes disables many sales functions when they think that they SHOULD exist in a competitive market place, that having competitors is a necessary evil…it’s the singular inability that the firm has to recognise that it is being viewed as just one of many by the prospect market place. For every deal in your pipeline, get a bird’s-eye view of all of the calls, meetings, and emails along the timeline of the sales process to identify where competitors were discussed throughout: A competitor entering the mix early is a completely different deal dynamic than a competitor entering the mix late. Chris Orlob is Senior Director of Product Marketing at Gong.io. You’re left breaking even at best or missing your number at worst. Explaining to a buyer how your product is different means nothing if... 2. What works much better than playing on weaknesses is to use their own strength against them. Dominate your competition by transforming your sales conversations. likely to win the deal than if your competitors weren’t involved at all. Instead of competitors “flying under your radar,” there won’t be a single competitive discussion on your sales floor that goes unnoticed: So… what’s your takeaway if you’re a sales rep? Gong.io is different because it’s specifically for sales.”, 5. This has been a really popular tactic in automobile sales for years – you mention you’re looking at a BMW at the Mercedes dealer and the sales guy will then spend 30 minutes explaining why the BMW is likely to blow up before you drive it off the lot. Customers aren’t solely driven by the best price – in a close competition, they may well go with a company they feel aligns with their own values. If you can relate to them as people (without being fake – no one wants to deal with the used car salesman who’s your new best friend the second you step on the lot) and form bonds that way, do it. If they’re talking about a competitor’s product, they’re giving you insights into what they’re thinking about. So Burger King decided to use that strength against them. However, competitive selling is really about more than that. Win the Competitive Battle Early. Once you understand the problems, your sales process can become more consultative – meaning you can diagnose other issues and showcase how your product can make those problems a thing of the past. In order to be competitive and win, you need to play your game. You can have no idea how you’re better if you don’t get to know the competition. If you can point to the other big clients and customers you’ve worked with, it demonstrates the value of your company and product to prospective customers. As such, it’s often a viable strategy to talk about your brand, your company, and your business ideology. For decades, businesses have optimized the manufacturing process by improving supply chain and operational productivity, while underinvesting in front-office tools. Can you send me proof? The first step in differentiating yourself from the competition involves talking to your customers just like always. When we hear reps getting bogged down in the comparison trap, competitive training follows shortly after. If your differentiation is incremental — just slightly better than what your competitor has — you’re going to get caught in the “comparison trap.”, This is where your buyer resorts to creating a spreadsheet to compare the two products and make an “intelligent business decision.”, It becomes a bakeoff, triggering what I call the “spec war.”. Do you see the distinction between leading to your difference vs. leading with it? Following the advice and tips in this article will help you navigate the tricky waters of selling against competitors. with the differentiator, it may or may not have landed. Selling Against the Competition the Accent Way, key to selling against your competition is, more virtual), one thing remains true: buyers want to. Absolutely genius strategy, if you ask me. When everything was said and done, he asked his rival — the salesperson he was competing against — out for a beer so he could understand why he lost. What does your business do? 6 Ways to Beat Your Biggest Competitor 1. Don’t just shout your name or your company’s name; tell your prospects how you can help them. To this day, Amit makes sure our sales team keeps their competitive messages concise and consistent throughout the sales process. Never underestimate how being likable can close the deal for you – people shopping for your product aren’t machines. In the end, if you are going to beat the completion in an undifferentiated market you must distinguish yourself by how you sell, not just by want you sell. Playing to your strengths means placing outsized effort and energy on the areas where you’re doing so produces outsized … Do this on a quarterly basis, and you’ll wake up next year to an entirely different market position. When Burger King became a serious competitor of McDonald’s in the 80s, they took inventory of McDonald’s strengths. Offering a discount is easy, which is why sellers resort to it. It happens all the time: You find you need to figure out how to beat the competition in sales. The name of the game used to be having a unique product. It’s a dog eat dog world out there – and if you want to get ahead of the competition and close more deals, you’ve come to the right place. What was the turning point or “aha moment”? This drives revenue through intelligent recommendations for complex sales scenarios and provides the data for rich analytics that power better coaching, forecasting, and long-term customer support. that prove to your buyer you understand their challenges and are a proactive. Here are four easy ways to set yourself apart and beat the competition in your industry. When we enter competitive situations and the buyer asks how we’re different, the worst thing we can do is explain how our features are better in some way. The corollary to this principle is to know your competitors’ landmines, and how to answer them. As much as I’d love to help you come up with your own landmine questions, it’s a situation-specific tactic that only you can answer. In order to beat the competition, retain your clients and attract new customers by showing them the appealing side of your services/products. It’s a question that you tell your buyer to ask your competitor because you know it will trip them up. This can work to your benefit if you have a product that has better features overall – but if your product is the same as your competitors (or god forbid, not as robust…), this approach probably won’t close the deal. Occasionally, we at Gong.io find ourselves selling to B2C sales call centers (rather than our core market: B2B sales). trust with your buyers and set your team apart from your competitors. Various trademarks held by their respective owners. With time, and some practice, you’ll be winning far more often than you’re losing. And send them home with their tail between their legs. 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