Avoid These 5 Mistakes When Competing For An Account

by Paul Castain on May 5, 2017

So there you are in a situation where you know, definitively, that you are one of several companies competing for an account.

Beware of these 5 mistakes;

  1. Assuming That You Have To Sharpen Your Pencil (even when you are told you need to). This puts the focus on price, and focusing on price leads to “sales malpractice”. How? Well for starters, you might short change the needs analysis step or miss opportunities to truly help your prospect. And besides, why should someone get a better price, just because they told you they want one? How is that fair to your actual clients? You know, the ones who’ve been there for you all along?
  2. Failure To EDUCATE The Buyer On The Proper Way To Buy Your Widget Please note, that when I say “educate”, I’m not taking badmouthing and simply giving it a nicer suit, I mean help them to make the RIGHT decision. Do you ever feel like people make sh*tty buying decisions? Of course they do! This is why you have to assume the role of “teacher”. Teachers (unlike any of my algebra teachers in High School) are respected and appreciated because they HELP! In what ways can you HELP your prospect make an informed decision? Another way to educate is by utilizing the “Landmine” tactic. Click HERE for a step by step breakdown.
  3. Lack Of Balls. There’s a famous story about advertising legend, David Olgivy. When Ogilvy, first hung out his shingle, he found himself in a really competitive situation, with a first degree ahole. The person was demeaning and pompous and told him ( I’m paraphrasing a tiny bit) “When I ring this bell, you will have x amount of time, to pitch us. At the end of your allotted time, I will ring the bell again and you’ll be on your way. From there, will be in touch. Anything you’d like to say before we begin?” David stood up and said “Yep. Ring the bell” and he walked out. While that’s an extreme example, you need to remember that as much as your prospect is going to evaluate you . . .You have every right to evaluate back. Not everyone is going to be a good fit for you and your company, but you can easily lose site of that, if your inner competitor is too busy trying to win. Part of the “lack of balls” thing, is also our hesitation in asking the questions, that need to be asked, but might be more intrusive. The proverbial “elephant in the room” doesn’t go away just because someone told you they’re taking other bids. The world doesn’t need another kiss ass.Sometimes we need to tell people (respectfully of course) that the way their going about their selection process, or just the way they currently do things, isn’t in their best interest.
  4. Allowing The Prospect To Over Simplify or Over Complicate The Selection Process. Many times, during a competitive situation, a prospect will oversimplify the process by shutting you down during the needs analysis step. They’ll say things like “There’s no need for a bunch of questions because we know exactly what we want” and then they proceed to tell you. That’s awesome but, imagine a Doctor that allowed their patients to tell them “Doc, let’s save some time today. Looks like I need heart surgery so just give me your best price” Now prospects can also over complicate the selection process when they create some of these ridiculous RFPs. They want to know your financials, the blood and urine samples (sometimes) and all kinds of other irrelevant things; instead of focusing on things that actually matter. Sometimes they complicate it by adding a kazillion unnecessary meetings, conference calls and steps.I once had someone who was considering me to be their sales coach. They laid out this ridiculous process they wanted me to go through that included speaking with 3 different people, filling out a 30 question questionnaire, they wanted to speak with 3 of my clients. While I appreciated their thoroughness, we’re not buying a billion dollar mega corporation here. I tried to meet them halfway, when they wouldn’t budge, I showed them the door.

    Understand, that you are allowed to (politely) ask why they need certain information and then educate them on how to REALLY make the right choice.

    My experience has been, that many buyers include some of this ridiculous criteria, simply because some consultant told them to do it.

  5. Allowing Your Competitors To Force You Into Playing A DEFENSIVE Game. This can happen when they badmouth you and you feel a need to defend yourself. It can also happen when your competitors are educating the buyer and you aren’t.

One of the things we’re going to be talking about, in our upcoming 12 Ways To SAFEGUARD Your Deal webinar, is how YOU can set the rules of engagement.

We’re also going to be talking about how you can outmaneuver your competitors and have them play defense for a change.

Here’s what you’ll learn by joining us on May 18th at 11:30 am EST;

  • How To Get In Front Of A Higher Probability Prospect.
  • How To Get Access To ALL Of The Stakeholders Without Offending Your Contact.
  • How To IMMEDIATELY Take Control (Without Being Manipulative) and Set Yourself Apart and Position Yourself To Be The Front Runner!
  • The 5 Types Of Questions That Propel The Sale Forward
  • What To Say/Do When Your Prospect Wants To Take 3 Bids.
  • 5 Ways To Keep Your Prospect Engaged and Focused On YOU; Even Between Meetings and Phone Calls!
  • How To Maneuver Your Competitors Into A Defensive Position, Without Badmouthing!
  • How To ACCELERATE The “Courtship” By Creating Propinquity (Go Ahead and Look Up That Word, I Had To).

Mark your calendar for May 18, 2017, at 11:30 am EST.

The webinar is 90 minutes and I’ll also record it. You know, just in case you can’t make it, can’t stay for the full 90 minutes, or just want to review all the nuggets I share!

What do you get?

(1) 90 minute, interactive webinar

Worksheets

Webinar Replay

Email access to me, for any webinar related questions.

How much?

$99

Click HERE or the button below to register!

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