Paul Castain's Blog

Two Ways Your Competitor Will Eat Your Lunch

Posted July 26, 2012

Many sales reps make two really bad mistakes once the courtship with a prospect transitions into marriage . . .

They stop researching the company, their contact, key players etc and . . .

they only do a thorough needs analysis once!

There are mucho problems with this.

1)    You can miss important “triggers” that can be leveraged into additional sales.

2)    You have absolutely no current assessment of pain or opportunities.

3)    You miss important things about your client that can help you bond with them on a deeper level which of course can transition into more sales but . . .

There’s actually a much bigger problem!

It’s a silent killer and you’ll never see it coming.

If your competitor is trying to get in and they’re researching your client and actually getting in to conduct their needs analysis but. . .

The last time you researched your client and did your needs analysis was prior to the marriage then . . .

Your data is somewhat antiquated and theirs is up to the minute and quite relevant!

Two easy remedies . . .

1)    Set up a Sales Listening Station so you’re always up to date when news breaks with your clients.

2)    Set up a meeting ASAP with your clients and give them whatever reason you want but . . . Get back in there and give them a good, thorough check up.

Please weigh in with your thoughts!

  • Spot on, Paul, Complacency is a client killer. Plus, keeping up to date can give you insight into other services or products that you may offer them. 

    Cheers,
    Marc

    • Very true Marc.

      When I’ve discussed this with my clients, the part that hits home with them is that some of them have clients that have been with them anywhere from a year to several years and that was the last time they researched and did a needs analysis.

      Thanks for sharing your thoughts Marc!

  • Paul,
           This is a gret golden nugget that could prevent a sales rep from losing an account. More importantly it can uncover unmet needs and result in growing the customer’s business with your product or service.

    Thanks for sharing,
    Pete

    • And there’s nothing wrong with growing the business my friend!

      Thanks Pete . . . Have a great Thursday!

  • Mary Beth Smith

    So, so true – I see it all the time. I always exhort reps (and owners!) to look at it like a football game that’s still in progress. The offense is out there constantly trying to make inroads into your territory, and if you don’t actively defend it, you WILL lose the game.

    Great post and important reminder!

    mb

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