Tech Industry: Unseating the Competition
September 3, 2019 By Paul Cherry Leave a comment
Unfortunately, when trying to unseat a competitor, challenges exist. Traditional selling techniques can often work against you. Plus, studies show that prospects are so change-resistant, your benefits often have to triple-outweigh the the perceived “pain of change.”
To be successful you need a well-developed strategy. Sales teams need to develop the techniques needed to take away accounts from your competitors.
We’re happy with our existing supplier
How often does this frustration occur? You initiate a new sales opportunity and the prospect says, “We’re happy with our existing supplier.”
Why is this? Your offer is better – even superior – to what they’re using. If only you could get the prospect to listen.
Most prospects claim they’re “satisfied” with their current suppliers. In reality, many are not. It’s a lot easier to dismiss you. Prospects want to stick with what’s comfortable — believing what they’re using now is working fine.
So, should we let them wallow in a “state of ignorance,” which could ultimately put themselves and their business at risk?
Traditional selling techniques often backfire
Here’s the problem, the following traditional selling techniques often backfire:
- Feature-benefit selling
- Low-ball pricing
- Groveling for a small piece of the business
- Revealing a competitor’s vulnerability
By implementing these practices, prospects do the exact opposite of what you want. They are more inclined to dig in their heels and stay put — remaining with their current vendor.
Calling on the wrong prospects
One big challenge we face when it comes to disrupting an entrenched competitor — and infiltrating key accounts — is calling on the wrong people. Too often, we end up trying to cultivate relationships with prospects that don’t have the foresight, the vision, or the receptivity to embrace our ideas.
So what’s the answer? Call on the right people. Often, these are corporate-level executives (the C-Suite), people who control the budgets, have the final say, understand the big-picture needs, and are motivated to take action sooner, versus later.
There are five emotional drivers that you’ll want to uncover that can disrupt entrenched competitors — and infiltrate key accounts
Qualifying the right opportunities
One of the more difficult challenges in disrupting or upsetting an entrenched competitor is qualifying the right opportunities. Too often you hit a brick wall. You present your prospect with an awesome solution, at a terrific price — but they won’t budge. Instead, the prospect replies with comments like:
- “We are happy with our current supplier.”
- “We’re too busy.”
- “We have other priorities.”
- “I must run your solution by my boss.”
You’re left hanging while your competition remains entrenched. There’s got to be a better answer! And now there is…
Now you can put a stop to incompetent competitors that continue to get the business that should be yours.
Sales Rep Workshop: Unseating the Entrenched Competitor
Major Benefits of This Program
With this new program, we’ll share with you counterintuitive techniques that allow you to:
- Unseat and displace your prospect’s entrenched competitor relationships
- Instigate change
- Motivate prospects to embrace your solution