Competition Archives - The Sales Evangelist

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TSE 1138: How To Close A Deal With A Prospect Who Goes With Your Competitor

If I’m working with a prospect who unexpectedly decides to hire a different company, it might sound impossible, but it’s possible to close a deal with a prospect who goes with your competitor. 

David Adley is an outbound sales manager at Bonfire, a digital platform for selling custom apparel. Bonfire works with nonprofits, influencers, and anyone who wants an easy solution to selling an awesome shirt online. 

Sales journey

David started selling knives door-to-door during college and he discovered he had a passion for it. When you’re succeeding, you’re having fun. 

He worked as a sales rep for a music company, and because he was a music major in college, he assumed it would be the perfect marriage of two things he loved. He was playing in a band at the time, and he had to make a decision about his priorities, so he picked music over sales. 

For almost four years he gigged with a band before taking the job at Bonfire as a customer success rep. He was basically making ends meet while doing the rock star thing.

David grew into his role. Because the CEO knew he had sold knives in college, he invited David to take a shot at growing the sales team. He took the leap, and that’s where his journey began.

Fund-raising

Bonfire operates in cause-based fundraising as well as the influencer space. Early in David’s career, he worked with a big client named Crusoe the Celebrity Dachshund. He’s a big deal in the animal influencer game and he has hilarious content. 

He’s also the big fish in David’s story, which is about learning empathy, timing, and persistence, three things that sellers need if they are looking to up their game. The company was still small then and he didn’t want to mess up the opportunity. 

He asked the CEO for help, and together they conducted discovery together. The CEO, Brian Marks, shared wisdom with him, and they discovered that Crusoe wasn’t actually a great fit for the platform at the time. They weren’t equipped to give him everything he needed to have a successful apparel campaign. 

The company was geared to fund-raising at the time and wasn’t really built for influencers. 

Surprise advice

Brian advised David to provide pro bono graphic design work to Crusoe and then told David to recommend that Crusoe sell his designs on a competitor’s platform. Typically custom graphics take about three days, but they turned this one around same-day because it was such a great opportunity even though they couldn’t work with him.

David said he couldn’t imagine sending a potential VIP seller to a competitor, but this is where he really started to learn persistence. After they sent Crusoe away, it was still his responsibility to keep Bonfire top-of-mind for him. He did that by actively checking in during opportune moments, like when he won an award for best animal content creator. 

David congratulated them and checked in with his manager frequently. 

Great rapport

They developed a great rapport despite the fact that they never sold anything on Bonfire’s site to this point. Eventually, when Bonfire relaunched its site with more accommodating features for influencer clientele, the timing was perfect. 

Crusoe’s manager got back to them during a periodic check-in and was anxious to give the company a shot. The new website was officially about three days old at this point, so David was still a little nervous about bandwidth at this point. 

Eventually, the account was the highest-selling campaign on the site up to that point, and it pushed the company to its brink in those early days. He calls it a thrilling experience for everyone involved. 

Nurture the relationship

Almost two years passed between the time when David sent Crusoe to his competitors and then welcomed him to Bonfire as a customer. He did it by nurturing the relationship and staying in contact with his managers. He let them know about the changes at the company, and eventually, it made sense for them to work with Bonfire. 

Crusoe never forgot how the company hooked him up in the early days. As a young rep, David had been so focused on closing that he couldn’t fathom making this kind of decision. The CEO, on the other hand, was looking out for Crusoe’s best interests, and he did what a good sales rep should do: he empathized.

He wasn’t so hungry for a deal that he tried to close something that wasn’t a good fit. He put himself in the client’s shoes and did what was right for the client. Then the client paid it forward. He never forgot the solid favor the company did. 

It was a long, remarkable lesson that resulted in a relationship that still exists today. 

Building value

When sellers build value, loyalty results as a natural by-product. Very often we get shortsighted because, in the sales space, we tend to focus on what we need right now. We don’t allow ourselves to think about the future. The result is that we often think only of ourselves. Many new reps especially get so quota-driven that we lose sight of our customer’s needs.

David said he’s thankful he was able to learn the lesson early in his career because it allows him to detach himself from deals and to teach his reps to do the same. 

Bonfire measures success as a campaign that sells more than 200 apparel items. The Crusoe campaign sold more than 3,000 items, which is about 15 times more than the typical revenue. 

Scaling sales

David’s realization that you can’t simply scale a team by taking your own personal success and applying it to everyone was his biggest challenge as a sales leader. He isn’t data-driven by nature but operates more by the seat of his pants. He uses a throw-it-at-the-wall-and-see-what-sticks approach. Then he repeats what succeeds. And while that worked for him in a young startup environment where there wasn’t a blueprint, it doesn’t work to scale. 

He had to develop a data-driven approach because not everyone can sell like he can. He had to overcome the notion that everyone should do what worked for him. The truth, as he discovered, is that there are lots of awesome personalities and skill sets that can sell effectively. Diving into the data to discover why those personalities could sell effectively was huge.  

Tracking data

They started by establishing a baseline metric for success. Once you’ve determined what your team is doing every day, you can hone those skills to arrive at the place where you’re closing more deals or launching more campaigns. 

David once operated according to a gut-feel to determine how many messages to send out, but they couldn’t rely on that. They needed to establish a number of new outreach messages a day. In this case, it was 25 new outreach messages a day, with the intention to convert 35 percent of those into demos. If 10 percent of those convert to launch campaigns, a BDR can launch three a week and be set up for long-term success. 

The key was drilling down those numbers to figure out what needed to happen at each stage of the pipeline. Telling new reps what they need to do in order to be successful makes a big difference. If they hit those benchmarks, they can feel really good about their trajectory. 

David said he wouldn’t have learned the lessons about empathy, timing, and persistence if he hadn’t been willing to ask for help. Many new reps want to put their heads down and prove themselves. He said that the best reps ask tons of questions and aren’t afraid to fail. Success occurs when you put yourself out there, ask for help, and then apply the lessons you learn effectively. 

How To Close A Deal With A Prospect Who Goes With Your Competitor” episode resources

You can connect with David via email at David@bonfire.com. You can also connect with him on LinkedIn and check out Bonfire.com. Find his music at Griff’s Room Band. You can also connect with his mom, who is a professional storyteller, at Characters By Kim.  

Connect with me at donald@thesalesevangelist.com.

Try the first module of the TSE Certified Sales Training Program for free.

This episode is brought to you by the TSE Certified Sales Training Program. I developed this training course because I struggled early on as a seller. Once I had the chance to go through my own training, I noticed a hockey-stick improvement in my performance.

TSE Certified Sales Training Program can help you out of your slump. If you gave a lot of great presentations and did a lot of hard work, only to watch your prospects choose to work with your competitors, we can help you fix that. 

Tools for sellers

This episode is also brought to you in part by mailtag.io, a Chrome browser extension for Gmail that allows you to track and schedule your emails. It’s super easy, it’s helpful, and I recommend that you try it out. You’ll receive real-time alerts anyone opens an email or clicks a link.

Mailtag.io allows you to see around the corners. You can see when people open your email, or when they click on the link you sent. Mailtag.io will give you half-off your subscription for life when you use the Promo Code Donald at check out.

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Donald Kelly, Sales Podcast

TSE 1045: TSE Certified Sales Training Program – “David and Goliath”

Donald Kelly, Sales PodcastSometimes the logical approach doesn’t make sense, just as in the story of David and Goliath it seemed impossible to believe that the shepherd boy could beat the giant.

In sales, we sometimes have to be a bit irrational. We must think outside the box.

Today we’ll discuss how unorthodox thinking can help us take down some pretty significant giants. It can also help us win some pretty decent accounts.

Logical approach

When the giant Goliath demanded that the Israelites send out their best warrior, it didn’t make sense for them to send David. He wasn’t the fastest or the biggest.

He was a little farm guy tending sheep, and he wasn’t the typical warrior type.

Too often in sales we default to the same logical approach that sales reps have been using for years. Instead of thinking outside the box, we choose the most rational solution to the problem.

Imagine you’re selling TVs and you’re meeting with a client that has a good idea of what they need and what they want. It’s possible, though, that the client’s perception of the problem may not even be the real issue. Worse yet, their solution to the problem may not be the best one.

In the case of David and Goliath, if the Israelites had sent the best warrior into battle to try to outperform the giant, the best warrior would likely have been killed.

Unorthodox approach

David used an approach that had never been used before. He used a sling and a stone to take down the giant, and the approach was unexpected.

In the situation with the client and the TV, he may assume that he needs a TV because it has always been the best solution in the past. Perhaps, though, the best solution is a projector, but the client doesn’t realize it’s even a possibility.

What if you forget about the TV for a minute and consider other possibilities: smartphones or tablets, or even podcasts. If the goal is for the client to find a form of entertainment, TV isn’t the only option.

Sales reps who ask the right questions can differentiate themselves. They can challenge the status quo and help the buyer to see us in a different light.

Risky decisions

I was reading a book called Selling to the C-Suite and the author mentioned that executives will often make risky decisions if there’s a clear plan for that decision. Most executives routinely get what they want.

In many cases, their team members fail to offer unique proposals because they are afraid of getting fired.

In this case, an educated seller may propose an option that’s a little riskier than just selling the executive a television. The executive may be so busy running his business that he hasn’t researched TVs or other options.

Your goal should be to inform yourself about the industry, the client, the type of business, and the problem. Come to the table as an expert and offer unique ways to solve the client’s problem.

Memorable actions

David explained to Saul that because he had killed lions and bears in the past, he was equipped to take down a giant. If Saul was seeking a victory that would make the opponents his servants, wouldn’t it be worthwhile to consider David’s proposal?

David accomplished exactly what he said he would, and the result is a story that has survived for thousands of years.

Will your clients remember you and your heroic efforts or will you be just another sale rep? Will you be the one who offered them a cheaper price? Or will you be the one who offered a unique approach that turned the organization around?

Studying industries

Know your client’s industry well. Study it. Understand the business left and right.

Instead of trying to sell to 10 million different industries, focus on the top three or five and master those industries. Become an expert in those niches. Then focus on those people.

That doesn’t mean you won’t sell to those other industries. It simply means that you won’t focus on those industries. Invest your efforts into the industries that will give you the best bang for your buck.

Read industry magazines, and watch YouTube videos. Spend time on activities that will help you become more effective.

When you do, you’ll stand out from the competitors. Because you’ll bring different ideas, different strategies, and different tactics, you’ll earn the respect of your prospects.

Bring resources, examples, and share your past experiences with your prospects. Explain to your clients why they must choose the option you’re offering.

“David and Goliath” episode resources

This episode is brought to you in part by our TSE Certified Sales Training Program, which teaches you to improve your sales skills, find more customers, build stronger value, and close more deals.

The next semester begins in April.

If you’re not familiar with the TSE Certified Sales Training Program, it’s a program designed to help brand new sales reps, as well as those who have been selling forever. The 12-week module offers videos you can watch at your own pace, as well as the option to join a group discussion. It’s broken into three sections: finding, building value, and closing. It’s amazing and it’s fun!

This episode is also brought to you in part by mailtag.io, a Chrome browser extension for Gmail that allows you to track and schedule your emails. It’s super easy, it’s helpful, and I recommend that you try it out.

You’ll receive real-time alerts anyone opens an email or clicks a link.

The episode is also brought to you by prospect.io, a sales automation platform that allows you to send cold emails in a personalized manner. To find out more about how it can help you automate your sales process, go to prospect.io/tse. Your prospecting will never be the same.

I hope you enjoyed the show today as much as I did. If so, please consider leaving us a rating on Apple Podcast, Google Podcast, Stitcher, or wherever you consume this content and share it with someone else who might benefit from our message. It helps others find our message and improves our visibility.

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Carl Allen, Buy Your Competition, Sales Growth, Sales Leader

TSE 909: Sales From The Street:”Buy Your Competition”

Carl Allen, Buy Your Competition, Sales Growth, Sales LeaderThere’s a difference between having a lifestyle business and having a business that’s truly scaling and growing. In order to grow, you have to have customers. The secret is to buy your competition.

On today’s episode of Sales From the Street, Carl Allen talks about how to massively grow your sales by acquiring another business. He’ll explain why he believes the key to overcoming your challenges might be to buy your competition.

If you’re new to the podcast, our Sales From the Street episodes feature stories of people who have faced challenges and overcome them.

Carl decided he was tired of working for other people and he wanted to do his own thing. He only had one skill set, which was to buy and sell businesses, so he decided to do it using other people’s money.

Selling businesses

Carl has been selling businesses for more than 25 years.

When he got the call during an overseas trip saying that his pregnant wife was in the hospital, he had to jump on a plane to get back home. In the moments after his son was born, he realized that he needed to do something else.

Carl decided that, instead of doing it in a corporate setting, he wanted to buy and sell his own small businesses. He knew that his tools and experience could be applied to small businesses.

He found that lots of people were asking him to coach and mentor them and teach them how to buy and sell businesses, so he built a global system to teach entrepreneurs how to do it.

Carl teaches entrepreneurs who work for other people as well as those who want to own their own businesses. He teaches them to find deals, negotiate them, and to do it all without investing their own money.

He also teaches small business owners how to double their sales by buying competing businesses or complementary businesses.

1 + 1 = 3

It’s getting harder and harder to organically grow sales because of the tremendous amount of competition.

Carl advises small business owners to stop chasing customers and trying to sell them more stuff. Instead, consider buying a competitor or someone in your supply chain that has some synergy and that can double or triple your sales.

The first business Carl bought was generating about $2 million a year, and his competitor was doing $2 million a year as well. They had a conversation, and Carl acquired the business, literally doubling his sales overnight. Organically, the same growth would have likely taken about 10 years.

Sometimes, instead of buying a competitor, you can buy a business in a complementary sector and cross-sell.

Carl, for example, owns a software company, and he’s about to acquire an IT company to sit alongside it. He’ll sell software to the IT services customers, and sell IT services to his software customers.

When the businesses combine, there will be opportunities for cost consolidation and synergy between the two.

He calls it the 1 + 1 = 3 model. In the end, he’ll have software revenues, services revenues, and the two together.

Acquisition myth

When Carl started in 2008, Facebook wasn’t prevalent and people weren’t marketing on LinkedIn. Growing his business would have included local advertising, trade show events, and good old-fashioned cold calling, referrals, and networking.

There’s a huge myth about acquisition and it’s this: if a business is worth a $1 million, you must have $1 million to acquire it.

The truth is that you can buy a small business without spending your own money. The big private equity guys on Wall Street do it all the time. Carl applies those same principles and tactics.

If you’ve never bought a business before, there’s clearly a learning process, which is why Carl built his academy.

He teaches:

  • How to do dealer regeneration
  • How to find deals that fit your requirements
  • How to have effective meetings
  • How to negotiate and structure a deal
  • How to raise financing
  • How to get the deal transacted

In his dealings, 99 out of 100 business owners don’t know how the process works.

He built his academy to empower business owners to scale their businesses differently.

Psychology of the deal

When you decide that you’re interested in acquiring a business, the best way to start is by approaching your competitors with a cleverly written letter which builds rapport, trust, and credibility.

Most likely, someone in my network will know you or will know someone who knows you, and I’ll get to you that way.

The key is in the psychology. You’re looking for the distressed owner whose business is stable. You need a seller with a strong motivation to come out of the business.

They might be ready to retire, or they might be bored, or they might be sick, or they might have run out of ideas. In fact, the biggest pocket of opportunity in North America right now is retiring baby boomers.

The Wall Street Journal published last year that 10,000 baby boomers retire every day, and 19 of those own a small business. Previously, one of their children might have taken over the business, but those tendencies have changed massively.

Their kids want to go to college now, and they don’t want to take over the family business.

These boomers don’t have an exit strategy.

Only 1 in 13 small business that tried to sell actually do.

If you have good business history, and good employees, and good customers, then you don’t want to close the business.

You’ve got to understand why the business owner wants to sell. Ultimately, it’s the best way to understand the pain they are feeling right now.

You’ve also got to find out how they do their marketing. Very often, we find that they aren’t even marketing. They are relying on word-of-mouth.

That means when I do employ marketing, we’re going to see growth.

Leveraged buyout model

We’re solving that problem with the leveraged buyout model.

You might ask yourself why a business owner would allow you to buy the business without spending your own money. In many cases, it’s their only option. They either sell to you, or they turn out the lights, close the doors, walk away, and let everyone down.

Instead, a safe, trusted pair of hands take the business to the next level and give it a new lease on life.

The first step for anyone interested in this model is to check out Carl’s 90-minute training webinar. He has a proprietary 10-step model that he has honed over 25 years, and he has created a sort of masterclass training for people who are interested in the model.

If you’re an entrepreneur and your dream is to start a business, don’t. Don’t start a brand new business, because 99 percent of them fail. Instead, buy an existing business that’s already doing what you’re looking to do, and use the company’s own resources in cash to acquire it.

If you’re an existing business owner and you’re struggling to grow your business organically and your marketing isn’t working effectively, scale your business by acquiring a complementary business.

Buying businesses solves everyone’s problems, and it’s a buyer’s market.

“Buy Your Competition” episode resources

Connect with Carl at Facebook.com/ninjaacquisitions, and find his evergreen, automated training, at www.ninjaacquisitions.com/free. It’s a webinar-style training with lots of tools and downloads users can access.

Today’s episode is brought to you by Maximizer CRM, a personalized CRM that gives you the confidence to improve your business and increase profits. It’s powerful and intuitive.

Get rid of the boring CRMs and customize to your team’s selling abilities. Click on the link to get a free demo of what Maximizer CRM can do for you.

Check out the Video Jungle podcast, which teaches you how to utilize video to stand out from your competition. Plan, create and share your way to better content and strategy. You are a brand, and video can help you set yourself apart.

Leave us a review wherever you consume this content, and share it with someone else who might benefit from our message. It helps others find our message and improves our visibility. If you haven’t already done so, subscribe to the podcast so you won’t miss a single episode.

Audio provided by Free SFX and Bensound.

 

 

 

 

Donald Kelly, The Sales Evangelist Podcast

TSE 794: Sales From The Street-“Don’t Be So Jealous, Bro”

Sales professionals don’t like to admit it, but we’ve all felt jealous. When one member of the team is killing it while we struggle to close, resentment creeps in; the kind of resentment that sabotages the team.

We have a tendency to compare ourselves against other people, and our managers do it to us as well. In this episode of The Sales Evangelist, we discuss the fact that,  though competition isn’t necessarily bad, ego and pride can prevent us from improving.

Ask for help.

My deals stalled. I built no value. While my coworker sailed through the discovery process, I watched my own deals stagnate.

She had experience in the kind of deals I was working on, and I eventually had to acknowledge that I needed her. It wasn’t easy, either, because I assumed as a man, I’d be a better seller than her.

Once I moved beyond those false notions and the jealous feelings, I noticed I was picking up important tidbits from her. She showed me how to guide the process and frame solutions for my clients. I noticed a difference in my sales.

I realized, too, that I was teaching her some things along the way as well.

Allow competition to drive you.

Competition among members of a sales team motivates us to do better.

Some of us won’t realize that because we’ll assume we can’t learn anything from younger team members. We’ll avoid asking for help from people we perceive aren’t as good or as experienced as we are.

Working alongside strong team members motivated me to work harder and achieve more. I learned to collaborate and strategize for the benefit of the whole team.

Now I’m selling more successfully than some of the more experienced people around me, but some of them won’t learn from me because of jealousy. I had to move beyond that thinking, and you should too.

Episode resources

We all need improvement. The Sales Evangelist Hustler’s League is a group coaching program that helps sales professionals of all levels to come together and share insights. Join us in April for the next semester, all about adding value.

It would be an honor to have you join us.

Donald Kelly, TSE Hustler's League, The Sales Evangelist

TSE 645: TSE Hustler’s League-“What Makes You Different”

Donald Kelly, TSE Hustler's League, The Sales EvangelistAre you just going to be like just everybody else trying to fight based on price? Today’s snippet is from one of our past sessions over at the TSE Hustler’s League where I talked about the unique differentiating factor you can bring to the table. So you can stand out from what others are doing.

The TSE Hustler’s League is designed to help sellers who don’t have a training process, whether you’re working for a small organization or for a large organization and they’re still not willing to invest. Our new semester is coming up in September so check it out!

Understand how others are selling.

What is something everybody is doing in your industry? Take the five competitors in your industry and further break it down into your top three. You will probably notice that they do the same exact thing.

Creative ways to get intel about your competitors:

  1. Join their email list.

Use a different email address. The goal is to understand what they push the most.

  1. Attend their webinars.

Most industries have seminars and go out there like a secret shopper trying to see what things do they push in their webinar.

  1. Enter their buying process to learn.

Just investigate and see what’s the unique selling proposition do they push. What do they do at the beginning of their sales process?

  1. Read their case studies.

Understand how customers talk about them, what they value, and what they push most.

  1. Follow them on social media.

You can also go on their news page through Yelp or Glassdoor to help you understand what their employees are saying about the organization.

5 Top Things that Can Make You Uncommon to Your Clients:

  1. Send a thank you card or something in the mail.
  2. Tailor your selling and demonstrate what you preach in the sales process.
  3. Go above and beyond your call of duty.
  4. Create experiences for them that can make you different.

Episode Resources:

Yelp

Glassdoor

The Science of Selling by David Hoffeld

Join the  TSE Hustler’s League.

Get a free audiobook download and a 30-day free trial at audibletrial.com/tse with over 180,000 titles to choose from for your iPhone, Android, Kindle or mp3 player.

What do you like about our podcast? Kindly leave us some rating and/or review on iTunes. This would mean so much to me.

 

Donald Kelly, The Sales Evangelist

TSE 499: Sales From The Street-“Internal Competition”

Donald Kelly, The Sales Evangelist What happens when you have new people in your sales team? Do you get threatened that somebody might be better than you?

In today’s episode, I’m going to share with you a personal experience – a difficulty I had as a young seller and how I overcame that.

 

Overcoming Your Fear of Competition

I’m a competitive person but whenever our company would hire new sales reps, I think about whether they’re any good or if they would outsell me. I was looking too much towards the fear of being beaten out and that hindered my performance.

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So I’m going to share with you some ways to help you overcome this fear so you can up your game:

  1. Don’t get thrown off.

Fear of competition distracts you from selling. When you focus more on other people, you tend to lose focus on yourself and it can hinder you from hitting your daily call goals. Don’t let this happen to you or you’d be thrown off your game. Being a top-performing seller starts in your head.

  1. Stick to your plan.

When you already have a path, stick to it and don’t just follow whatever the new guy is doing. Stick to what works. If you have a plan and it’s working, refine that plan and continue to work it.

  1. Help them as needed.

Learn from people in your team. Be open to learn and share information and you’ll gain so much more in return. People who came from other companies have a different way of thinking and learning. Coming from different perspectives allows you to improve and refine yourself. Give help to them and don’t just hoard information.

  1. Focus on your goals and hustle.

Focus on your goals to keep you from being distracted.

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  1. Competition helps you improve.

Bounce ideas off of each other so each one of you can improve. Help each other to become top-performing sellers.

Episode Resources:

Say goodbye to long, boring proposals and check out PandaDoc. Create electronic proposals to your prospects. Sign and receive payments without leaving your CRM. It integrates well with other CRMs such as Salesforce. Pipedrive, and HubSpot. To get a quick demonstration and a free trial, go to www.thesalesevangelist.com/panda

Donald Kelly, PandaDoc

What do you like about our podcast? Kindly leave us some rating and/or review on iTunes. This would mean so much to me.

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Selling, Sales Competition, The Sales Evangelist

TSE 121: Know Your Competition Make More Sales

Selling, Sales Competition, The Sales Evangelist Are you ready to rumble?

This is no Mayweather v.s. Pacquiao match, but I will show you the right jabs and punches to help achieve your sale goals. In this episode, we’re going to focus on COMPETITION, which is a key aspect in sales. Don’t fight ’em or hate ’em. It’s a matter of understanding them.

WHY you need to UNDERSTAND your competition:

  • Competition drives innovation
  • You have to understand WHAT makes you different

HOW to make the RIGHT punches:

  1. Say something nice about your competition
  2. Talk about what is your key differentiator
  3. Translate it to their business
  • Know where you are different and where you can help
  • Understand the competitor’s business model and how you differentiate from them
  • What more can you offer that your competitor can’t?

HOW to understand your competitors:

  • Go to their website
  • Look at case studies and understand what they’re doing
  • Write down some questions you can ask every time you come across one of their customers. (Ex. Ask why they selected “xyz” vendor.)
  • Look at their pricing model (do they have annual cost or one time contracts etc)
  • Find out their key differentiators
  • Learn about the owner of the company
  • Learn about their social media activity
  • Study their financial report (if public)
Sales Competition, Cast Study, Thankful, The Sales Evangelist

TSE 089: The Most Unexpected Thing I am Thankful For!

Sales Competition, Cast Study, Thankful, The Sales Evangelist Happy Thanksgiving everyone!

During this episode I reveal one of the most unexpected things I am thankful for. Can you guess what it is? Well, obviously I am grateful for the usual things such as health, family, freedom and most importantly my wife. But the most unexpected thing I am grateful for in relations to business is my competition. Here is why:

  1. The competition has performed in depth case studies that you can be used to educate your prospects.
  2. They validate ideas that you may have about unique challenges facing your ideal customers. They do the research in the form of case studies which you can use to position your product or service in a new and unique way.
  3. Competition can help you get into a new market quickly.
  4. You can take the companies they highlight in their case studies and search them on LinkedIn and find similar companies. It will become very likely the company your competition does the case study on is facing the same challenges your prospects are facing. They reveal great information you can share with them.
  5. Connect with key individuals within the company the case study was done on so that when the honeymoon phase is over, you may be able to come in and position yourself. Executives may change, customer service may go down or any number of things. You need to be there as the BEST alternative. The case study also already revealed that they are willing to pay high dollars to fix challenges. This will be helpful when you get the opportunity to position yourself.

So as you finish up this Thanksgiving holiday and work on plans to start of the new year strong, implement this strategy to help you get an edge. Thank goodness for competition and also turkeys!