If a prospect works with one of your competitors, don’t give up
Competitors is one of the most important and recurring topic in sales: if you’ve been selling for a while the majority of sales you closed or joined included one or more of your competitors.
If you sell for a living your company probably trained you on your competitors, they explained you their strengths and weaknesses and the differences between your companies and your solutions.
Furthermore, if you’ve done this job for a while you certainly learned how to look for information about your competitors, both online and offline.
Today I’d like to write something about this topic in order to clarify a common misconception in sales: this false belief creates doubts and fear in salespeople by weakening their ability to have meaningful conversations.
I’m talking about believing that a prospect who works with a competitor is automatically a lost opportunity, something which is not worth to fight for, something which is secondary – not a priority.
Despite the attitude and behavioural issues this misconception generates another significant problem: it narrows the addressable market by influencing the salesperson to put efforts in ‘greenfield’ prospects only.
The truth is that a prospect who works with one of your competitors is not the end of the world and it’s not easier or more difficult then a greenfield prospect: it’s just a different sales situation.
In the event that you’re worried about dealing with a prospect who works with one of your competitors or in case they influenced you with this fear here’s my advice: change your perspective.
In other words, look at the opportunity from another point of view.
After all and if you think about it, a prospect who works with your competitor is a prospect:
- Who already knows the needs and the problems solved by your solutions;
- Who already understands their value;
- Who already buys your type of products or services.
As you can see and looking at the opportunity from this side, this is not a bad situation.