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Sales competition- is your prospect dating other people?

Posted by Carole Mahoney on 11/21/14 4:34 PM

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Does the idea of having to compete for someone's business make you so nervous that you would rather not know if they are? Are you convinced that you are going to deliver such an awesome proposal that there is no way they would say no? Have you ever been surprised after the fact when you lose business to someone else?

It can be uncomfortable finding out that you are one of 3 or 4 sales people competing for the same business. Ignoring it doesn't make it go away, and it puts you in a blind spot.

I have found that some people don't feel they have the right to ask, or most simply don't know how without seeming that they aren't confident. But the truth is that the sooner you find out what the landscape is, the better you will be able to help your prospect navigate it.

How to ask who you are competing with

"Why did you pick me?"

"What stood out from the others in your list?" 

You could also try to ask whenever they ask a question. I sometimes reply with, “What did the other people you are talking to say when you asked them that?”

If they say, “I didn’t ask them that,” offer them more questions that they should ask and tell them why it’s important to know that in their buying process. Educate them, help them, show they what they need to look out for. That is what will differentiate you from the competition.

Sometimes you can just directly ask who else they are talking to, it depends on how much of a connection and rapport you have with them. If you missed that a little and they resist and don’t want to tell you who else they are comparing you to, try what Progressive Insurance does with their with their Price Comparison. “Let us shop the competition for you! If they are cheaper, we will tell you to go with them.”

Wait- you would never refer them to the competition? What if it was a better fit for their needs or their culture? Is everyone your buyer? If selling is about helping buyers to make the right decisions, you might not always be the best choice. If you know your competition is, make the recommendation!

I do this a lot. What comes back is that the client went with someone else, but now refers other people to me! If it’s not a match, help them make a match. Then they know you are trustworthy and really looking for their best interest- and the best interest of anyone that they would refer to you.

Looking to get a new perspective on something?

Check out our recap videos from the Live Sales Labs where we focused on various situations and discussed how to resolve them live.

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Topics: sales