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:
- Say something nice about your competition
- Talk about what is your key differentiator
- 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)
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