Should You Talk to Prospects About Your Competition?

The short answer to this question is: yes, you should talk to prospects about your competitors. In the world of sales, understanding your competition is paramount to success. Your competition is the elephant in the room so get ahead of it. Discussing other companies or products shows you are confident in your own and allows you to address any differences and questions head on. Trust me, this builds stronger, more open relationships with prospects that will go a long way to making them a client.

Ask who else your prospect is talking to.

 Find out what they like about the other company or product. Where do they see similarities and where do they see differences in your favor or your competitors? If you don’t know this, you leave a lot of information on the table for a prospect to figure out on their own. Why would you do that when you can answer questions head on and really showcase how your company, product or service fits their needs and makes them better.

Of course, do your homework. 

You should already know who the other players at the table are but take it further. How will those players answer the needs of this client? How can you counter that with what you can do for them or do better or differently? Get comfortable with potential questions from your prospect before you walk in the room. The last place you want to be working these things out is on the spot in front of a potential client. 

Knowing your competition helps you build a strategy to win. Fill out our contact form to get in touch and schedule a training session!