What do you really know about your competition?
Are there certain ways to create doubt in your prospect’s mind when it comes to a competitor? Yes but there is a right way and a wrong way. Do you truly understanding your competition?
Most of us already know that it is very important not to talk negatively about your competition. Great. Sales 101. But how do you help the prospect learn that there are issues with the competitor that they need to know, without telling them?
There are a few steps to go through to help your prospect learn these things. I’ll lay them out here. I will lay them out step by step to help you learn this process.
First, you need to decide on a competitor. Simple enough, right? Yes, but we need to go through this process with each competitor one by one.
Second, you need to do research to understand the true weaknesses that this particular competitor has with your product or service specifically as well as your true advantages. It is important here. Then list them.
Third, take one advantage that you have over this competitor and write it down. Using only this advantage, Write down why this is important. Be as specific as you can.
Fourth, this is a bit more difficult, take one advantage and now create a question. This needs to be open-ended but more than that, it is important to create a question that is not leading. The best way to start any question is;
- Share with me…
- What are your thoughts on…
- What are your feelings on…
- Talk to me about…
Here is an example – the advantage is the turn-around time for your product is 3-4 weeks earlier than the competition.
Most often we come up with a question like “Wouldn’t be an advantage to get your product 3-4 weeks ahead?”
A better question is “If you had the ability to receive your widget 3-4 weeks ahead, how would that help your process?”
A great response is, “really, tell me more about that? The key is truly learning from the words. The temptation of hearing and the opportunity to close and then immediately trying to close it is not working!! It isn’t working if you want to be a true professional and not just a salesman.