Benefits of Knowing The Competition

The difference between knowing your competition and NOT knowing your competition can mean the difference between making a sale and not making a sale. What does knowing your competition mean? It means knowing:
What products the competition sells
What prices they charge
Which products the competition does NOT sell
What kind of service the competition provides

KNOW YOUR COMPETITION
By "know your competition," I don’t mean focusing every waking moment on your competition. That would take too much time away from your valuable selling time. But if you know what YOU can provide that your competition does NOT provide, you have an edge you have a better chance of making the sale.

Example of sales rep who does NOT know his/her competition:

Prospect: "We buy all our supplies from the Smith-Jones Company."

Sales Rep (who knows nothing about the Smith-Jones Company): "I understand. Well. . . uh. . . please keep us in mind for any future needs you may have."

This phone call will NOT be memorable to the prospect, who will forget all about you the minute s/he hangs up the phone.

Sales rep who DOES know his/her competition:

Prospect: "We buy all our supplies from the Smith-Jones Company."

Sales Rep (who knows what products Smith-Jones sells):

"I understand. They are a good competitor of ours. However, they don’t carry Sharp OEM supplies and we DO stock a complete line of Sharp OEM supplies.

How are you currently purchasing your Sharp OEM supplies?"

This phone call will cause the prospect to THINK about what you said and realize s/he may BENEFIT from doing business with YOUR company.

HOW DOES KNOWING THE COMPETITION HELP YOU?

1. You know what YOU can provide that your competition does NOT provide, which means:

2. You appear more knowledgeable and professional to your prospect and:

3. You have a better chance of making a sale or at the very least - keeping the door open for future opportunities.

About the Author

Reprinted with permission
(Copyright, 2000, Ann Barrs Selling Supplies.com) Reprint permission granted in part or whole when the following credit appears "Reprinted with permission from Ann Barrs Selling Supplies.com Weekly E-Mail Sales Tips. To subscribe free, E-mail to: annbarr@sellingsupplies.com with "subscribe" in the subject line."


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