Are you constantly losing deals to competitors? When’s the last time you’ve seen a competitor’s contract? Knowing how to beat your competitors in sales involves understanding the information they provide to your prospects.
We are expected to know our competitors better than ourselves, but when was the last time you saw your competitor’s paperwork? That’s certainly what your customer is looking at when they’re comparing you to them. So make sure when you’re working your deals, you’re actively closing for whatever information your competitors are giving to your prospect. You’re under NDA, so you can do that under protection, but by seeing what your customer is seeing, you can position yourself better. Getting actual evidence that your customer is looking at a competitor also gives validity to the deal itself.
So, how to beat your competitors in sales effectively? Here are some strategies to help you stay ahead and win more deals:
Request Competitor Information
When you’re engaging with a prospect, ask for any information they’ve received from competitors. This not only helps you understand what you’re up against but also allows you to tailor your approach to highlight your unique selling points. By seeing what your prospect is seeing, you can position yourself more effectively.
Leverage Non-Disclosure Agreements (NDAs)
Under NDAs, you can request and review competitors’ information with protection. This enables you to gain insights into their offerings and better position your products or services. Remember, knowing how to beat your competitors in sales is about having a comprehensive understanding of their strengths and weaknesses.
Validate Your Deals
Getting confirmation that your prospect is considering competitors can validate the deal and provide a clearer picture of the competition. This helps you strategize more effectively and demonstrate to your prospect why your solution is the superior choice.
By implementing these strategies, you’ll be better equipped to understand how to beat your competitors in sales and win more deals. Stay proactive, leverage available information, and always aim to provide value to your prospects. Success in sales isn’t just about closing deals—it’s about positioning yourself as the best option in the eyes of your customers.
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