Business competition can be fierce—especially in industries with aggressive competitors. And, while you believe your product or service is the right fit for a potential customer, overcoming the pitches they are hearing from competitors can be difficult.
You never want to badmouth your rivals. But, how do you communicate why your company is better without degrading the other company and sounding like a complete jerk?
The good news is that there are other ways to highlight your strengths.
If you want to increase your win ratio against the competition, you should know what makes your product or service unique. You should also keep prospects engaged in the conversation long enough to show them the value of working with you and uncover weaknesses in the competitors’ offers.
3 Ways to (Tactfully) Respond to Prospects Considering a Competitor
Here are a few ways to tactfully respond to prospects considering a competitor:
1. “I’m glad to hear you’re taking time to [address the challenge of ____________, recognize the importance of doing _____________]. How’s it been going for you so far?”
Recognizing the challenges your prospects are facing also affirms they’re thinking about the right strategies for growing their business. This question allows them to open up about their specific challenges. What’s working well? What’s not? The way they answer this question allows you to capture pain points that could be solved specifically with your product.
2. “What’s your evaluation process of different products/services to make sure you’re getting the best service possible?”
These questions can help you understand the thinking behind your prospects’ decision-making process. Are they concerned primarily about the price? Solving a specific pain point? Prioritizing a certain feature?
By identifying what’s important to your prospects, you’re able to contextualize your pitch based on their unique priorities.
3. “I heard you talking about the specific need to [tackle business pain, increase results, maximize this investment]. Would you be interested in scheduling another call to talk about that?”
In modern sales, “Always Be Closing” has been replaced with “Always Be Helping.” After you’ve helped the prospect with a challenge, they’ll be more receptive to hearing about what your company can offer.
Unless you are truly offering a unique solution for your industry, you’re going to run into situations where you are marketing or selling against another competitor. My hope is that these “scripts” would help you overcome some of the initial objections you get when it seems like the competition keeps getting in your way.