As the challenges in our economy rise, so do the level of industry competition and the tendency for our competitors to employ negative sales tactics against us. If you want to combat their efforts and dominate your competition, you need to raise your level of “Competitive Intelligence.”
The more you know about your competition the more effectively you will sell against them. How well do your understand their selling process? What are their competitive advantages? Do you know how they sell against you? Do you know the names of their sales people?
Here are two tips for improving your competitive intelligence.
1. Do Your Homework: Know your competitors better than they know themselves. Study their sales material. Interview ex-employees. Interview your customers. Get them talking at conferences and then shut-up and listen. Conduct research on the internet. When you win a deal always ask for a copy of your competitor's proposal; you'll be surprised at how often your new customer will hand it over to you. When you lose make sure to find out why.
2. Never Get Comfortable: The moment you feel comfortable with a prospect or customer is the exact moment your competitor will reach out and bite you. Never let your guard down and keep your eyes and ears open for clues that will help you maintain your competitive edge.
For more information on addressing the challenges of rising competition, please submit the contact form below and a CTA consultant will be happy to contact you.
