Tweet

C-Level Selling Tip 13 - Steal Your Competitors' Customers

Guest post by: Sam Manfer

Article Overview: Steal share from competitors within 6 weeks. Learn how easy it is to get business from your competitors’ top customers.

C-Level Selling Tip 13 - Steal Your Competitors' Customers



Competitors' accounts are great opportunities for you. Unfortunately, you either block yourself assuming the customer is totally satisfied, or if you're a little more aggressive, you'll put them on the defensive by touting how much better you are. Both avoiding and attaching will ruin this tremendous opportunity for you. Competitors' accounts should be really attractive because, first, you know they buy your type of services, meaning they are highly qualified; secondly, customers are always looking for something better, which I presume you have; and thirdly, your competitors are vulnerable.

Let's explore the vulnerable aspect. Problems always arise with any vendor or service provider, no matter who it is, and this makes them vulnerable. However, customers don't change readily for many reasons. There is the inertia factor - the devil we know is better than the devil we don't know. The cost/effort to find an alternative is significant - bidding, reviews, training, start-up, etc. The problem may not be that big relative to other priorities. The incumbent may be working to correct the problem. The politics and hierarchy among the users can make each cautious about changing vendors.

Therefore, the best approach to capture business from a competitor's customer is to position you as NUMBER TWO. Since there will always be problems with incumbents, make it easy for you competitors' customers to change. Get known. Show you're capable and creditable, but don't be eager to replace the incumbent. You've got to make them feel no pressure and at ease meeting with you. Then when problems arise, you'll already be qualified and only a phone calls away. It's then quick and less risky to change horses.

However, you will have to get to know the leaders of the profit center. Subordinates don't want to change because they fear the impact from their bosses and other associates. But, if you're known by the top people and have established some credibility, the wheels will be greased.

Competitors' customers are ripe for you. There are new projects just around the corner. Times and people change, and there is always room for two, or more vendors. However, to be the next in line for the call, you must begin the positioning process now. Otherwise, when it's time for a change or second supplier, they'll call all competitors. Get known and approved by the senior staff as the best alternative vendor and within 6 weeks you'll get a call to prove it.

Common Situation

They Say They Really Like the Incumbent

Your competition sells a lot to this account. Your main contact is very cordial, yet lets you know s/he's very happy with your competitor. Therefore, you assume everybody, including the powerful, love them and will never change.

Resulting Problem

You Never Penetrate and Then Realize Another Competitor Has

You're missing big opportunities for penetration because you're listening to a limited few - usually the competitors' sponsors. There are always problems with incumbents. If nobody presents themselves as an easy alternative or second source, the account sticks-to whom they have until something big happens. Then every competitor is called and you're seen as one-of-the bunch.

Check Yourself

Score: 4=Always; 3=Most Times; 2=Usually; 1=Sometimes; 0=Never.

1. Do you tend to put down competitors when you do talk with their customers? ____

2. Do you avoid competitors' accounts? ____

3. Do you ask competitors' customers what they like about their incumbent? ____

4. Do you ask what needs are not being met? ____

5. Do you interview at least 4 of the people in a competitor's account? ______

Scoring: 3 + 4 + 5 - (1 + 2) = ??

9 is good; Less than 9 means you need to work on this revenue opportunity

Related Articles
  Count your chickens
  Types of Shoplifters
  Stealing Customers from Your Competitors
  Entrepreneurs - Check Your Changed Market In These Recessionary Times
  C-Level Relationship Sales Tips – Increase Sales by Stealing Competitors’ Accounts
  Thank God for Competitors and Market Research
  How do I create a radical ‘Call to Action?’
  Entrepreneurs – What Happens When No One Loves Your Products?
  The Latest Email Scam Is Nothing New
  Top 7 Sales Skills to Increase Sales in 2009 Regardless of the Economy
  Sales and Marketing Common Sense
  Are the only people that CALL YOU Telemarketers?
  How To Do Effective Local Marketing & Advertising
  Searching For Answers
  Stress-Free Selling® - How to Talk About Competition
  Having Conversations with Prospects
  11 KEYS to WIN in Business, while everyone else is hiding!
  Top 7 Stolen Car Parts
  Advertising: the nuts and bolts of making it work: Step Five: Make sure your ad does not look like your competitors.
  Rule 19 Watch What DirectResponse Advertisers Are Doing and Plagiarize

Article Tags: Business development, Clevel selling, Competition, leads, market share, sales management training, sales training, selling



Related Forum Posts
Cafe Expenses - Hi Michele I used to work in a place that had a cafe that broke even every month. This is due to the fact that we couldn't get enough people through buying food and drinks to make a profit and the expenses consisted of: - Staff wages - Not selling all food so it would go to waste - Rent for occupying the premises - Selling products that had a low turn over - Customers would never come back a 2nd time due to the location I would imagine a restaurant would be the same with the hardest part attracting people every night to make a profit while setting your prices at the right price to keep people coming back.
Re: Congress To Make eBay A Rat -- Good Idea or Bad Idea?? - Hi GT, I agree with you. Competitors can use this against each other which is not good for business
Re: Two Useful Books To Help You Focus On The CLIENT - Hi David, To add to your thread, I'd like to recommend Jonathan Tisch's "Chocolates On The Pillow Aren't Enough: Reinventing The Customer Experience". Tisch's book includes content on "Welcoming Customers", "The New Art of Customization", "The Challenges of Customer Diversity" and "Offering Something Extra to Your Customers" to name a few.
Re: SEO... - 1: Find the Best Keywords 2: Discover Your Competitors 3: Optimize Your Title 4: Optimize Your META Tags 5: Use Headings 6: Use Title and ALT Attributes 7: Nomenclatures 8: Create a Site Map Page 9: Include a robots.txt File 10: Install a sitemap.xml for Google MySQL/Oracle:
How to Do Great Marketing with (Amost) No Money - I've given this presentation to CEOs many times. Now i can share it with you. But I cannot because I do not yet have 20 posts. Jeff Ogden, President Find New Customers


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

Inspiration for troubled times

Good News Travels Fast

Smart & Simple Internet Techniques

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.