Prospects could ask about your competitors and you should get used to it. You can look at it as a test or even treat it as one. Assuming your prospects are not shy and they will more often than not ask you how exactly are you different from your competitors. And if you can’t deliver an effective high-quality answer, then you failed this so-called test.
Talking about your competitors is inevitable and you need to learn how to talk about them in the right, beneficial way. In this article, I will cover three basic tips on how to talk about your competitors in the right way.
Worksheets are available to download later below.
TIP 1. Be respectful
It’s a general rule to always remember - don’t talk badly about your competitors. Make sure to show your respect to competitors and their work, but never spend your time trash-talking.
TIP 2. Don’t talk too much
Listen, you don’t want to talk too much about your competitors, and, most importantly, you don’t want to talk too much good about them either.
There is always a possibility that your prospect is already considering your competitor. And yes, we don’t want to add to that. Sometimes reps choose to “admire” competitors so much. that they simply lose their prospect to that competitor.
So, overall my second tip is to save your time and don’t talk too much about your competitor. Use this time and effort to showcase the benefits of your product and company and in the next tip, I will explain how.
TIP 3. Explain why your customers chose you and not your competitors
“Oh, you know, deep respect for competitor ABC (assuming that's the case). Having said that, I would love to walk you through why so many of our customers have left ABC to come to us. I can share with you what they've actually experienced and why they decided to make the move.”
This is an example of how you can make a competitors-talk beneficial to you. Now, let me explain why this tactic works.
First, it plants a seed of doubt in the mind of prospects that they might come back to you anyway even if they decide to choose your competitor first.
The second thing it does is that it gives you an opportunity to talk through the customer's voice, and not just you as a sales rep saying why you think that they should choose you, but you're doing it in the voice of the customer, which is more than beneficial.
We are all aware of sales rep reputation, that’s why prospects are usually hesitant to talk to us and believe it’s better to take everything we say with a grain of salt. But if you’ll make an effort and will try to talk through the customer’s point of you - you will be much more appreciated by your prospect.
If you want to read more about customers’ stories and how they affect your demo call, check out my previous article here.
While not being disparaging towards your competitor, how can you plant a seed that gets your prospect thinking that your solution may be a better fit for their needs? To find out feel free to download my worksheets and go through exercises just like this one:
Write your own version of the script below:
"We have a deep respect for competitor ABC. Having said that, I would love to walk you through why so many of our customers have left competitor ABC to sign on with us. I can share with you what they've actually experienced and why they decided to make the move."
Of course, you need to study your competitor as much as possible. So that you can highlight your benefits in the best way possible. Knowing your competitors in-depth, you’ll be able to walk through your benefits with much more confidence than before.
Use this template to study 3 of your competitors inside-out.
And, as promised, feel free to download these worksheets to practice new knowledge!