Has your personal or business bank changed names and ownership within the past couple of years? How about your mortgage company? I'm sure many of you have stories of frustration due to these changes - more paperwork, different reps, wasted time. These situations test customer loyalty, and according to telesales expert Art Sobczak, smart sales reps will take advantage of it.
Prospects can be particularly vulnerable after their existing vendor is acquired, merged, or undergoes some other type of change. Capitalizing on their vulnerability requires you to track who a prospect buys from. You must be on top of changes and able to sort your database accordingly. Then you place an effective call.
Here are some pointers from Sobczak to help you capitalize on your competitor's changes.
1. Set up a Google News Alert with the names of your top competitors. When anything happens with them and it appears online, you will be notified based on the keywords you enter.
2. Set up a Current Vendor field or group in your contact management program. On every future call, find out who your prospects are buying from, if it is not you. Then it's a breeze to do a quick sort of all the prospects who have the competitor's name in the field, and plan strategically-timed contacts when appropriate.
3. Call with value. When calling these prospects, naturally you don't phone with an attitude of, "So I see your vendor was just acquired. I bet things are a mess there!" Instead, treat the call just like you would a normal follow-up. But, be prepared to ask questions designed to get them to tell you the problems and pains they might be experiencing as a result of the change.
For example:
"Mike, you're still with AB Vendor, right? I see. With the recent acquisition, some of my other customers have noticed some changes in the promptness of getting orders delivered. If that is an issue for you, we have some options that might be worth taking a look at. What has been your experience?"
Again, be sure your opening here is not viewed as the "Just checking in with you" type of call.
"Every prospect you have not sold is affected by change at some point. Be the person who can turn that into a win-win for you both," says Sobczak.
Art Sobczak helps sales pros use the phone to prospect, service and sell more effectively, while eliminating morale-killing rejection. To get FREE weekly emailed TelE-Sales Tips visit: www.BusinessByPhone.com
Showing posts with label competition. Show all posts
Showing posts with label competition. Show all posts
Wednesday, January 7, 2009
Tuesday, December 30, 2008
Give Business to Your Competitors
Since you might still be feeling the season of giving, now's a good time to try giving something that feels counterintuitive to most salespeople. Sales trainer Kelley Robertson explains:
"From time-to-time you may encounter a situation when your product, service or solution does not fit a prospect's specific situation," says Robertson. "Some people try to force a solution in order to get a sale but this does not generate positive long-term relationships."
"Sometimes it makes good business sense to suggest a competitor because their product or service is more appropriate for that particular customer. You may shudder at the thought of 'giving' revenue to your competition but if you can't provide the best solution there's no point trying to keep the sale. It does not make good business sense."
"Here's an example of how this works," continues Robertson. "I have alliances with several other sales trainers, and indirectly, we all compete against each other. But, at the same time, we each specialize in different areas. So, if an engineering company contacts me about sales training, even though I can probably deliver a good program, I know someone who is more qualified so I put the prospect in touch with that person."
As Zig Ziglar once said, "You can get anything you want in life if you just help enough other people get what they want." Sometimes, it makes sense to give business to your competition. Competitive alliances can work in your favor.
As President of The Robertson Training Group, Kelley has helped thousands of professionals improve their business results with his engaging approach to sales training and speaking. Learn more at www.robertsontraininggroup.com
"From time-to-time you may encounter a situation when your product, service or solution does not fit a prospect's specific situation," says Robertson. "Some people try to force a solution in order to get a sale but this does not generate positive long-term relationships."
"Sometimes it makes good business sense to suggest a competitor because their product or service is more appropriate for that particular customer. You may shudder at the thought of 'giving' revenue to your competition but if you can't provide the best solution there's no point trying to keep the sale. It does not make good business sense."
"Here's an example of how this works," continues Robertson. "I have alliances with several other sales trainers, and indirectly, we all compete against each other. But, at the same time, we each specialize in different areas. So, if an engineering company contacts me about sales training, even though I can probably deliver a good program, I know someone who is more qualified so I put the prospect in touch with that person."
As Zig Ziglar once said, "You can get anything you want in life if you just help enough other people get what they want." Sometimes, it makes sense to give business to your competition. Competitive alliances can work in your favor.
As President of The Robertson Training Group, Kelley has helped thousands of professionals improve their business results with his engaging approach to sales training and speaking. Learn more at www.robertsontraininggroup.com
Subscribe to:
Posts (Atom)