Question

Topic: Strategy

Wooing Competitors Customers

Posted by Anonymous on11/24/2008 at 3:44 PM ET 500 Points
We have come across a market opportunity that involves a large competitor. Their customers have recently come "into play" -- for a short time anyway.

What tactics can we employ to help "pave the way" for reps making direct calls.

What message type works? How "direct" should our communication be with them?
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RESPONSES

  • Posted bymichaelon11/24/2008 at 4:38 PM Member
    Mike,

    VERY direct...except I would not mention the competitors name. Something like "a recent industry trend is BLANK, but WE feel..."

    I like e-mail in this case and hopefully you already have contact with them. But be careful if you're planning the same change in the near future.

    Michael
  • Posted bySteve Mooreon11/24/2008 at 9:07 PM Member
    I of course took the following from Phil's comment above. I just wanted to add that "your job is to take advantage of the opportunity"...in a tactful way. That is exactly what Phil is saying and that is exactly the truth.


    "I would be cautious about mentioning to these potential customers of yours that they're "in play." I would simply approach them - and approach them you definitely should - as you would any new customer, with your best foot forward, your best approach, your best offer, perhaps even a sampling program if that's appropriate to your type of business.

    If they are "in play," the chances are they may know that. If they do not, you have to ask yourself if there is really a need for them to know that fact.

    Your job is to take advantge of the opportunity. Hope this helps...and good luck.

    Phil"

    Bingo and bullseye.
  • Posted byFrank Hurtteon11/24/2008 at 9:55 PM Accepted
    When something goes wrong at a major competitor there are often opportunities to convert business. I suggest a straight forward approach at the sales end. Here are some thoughts to get you going:

    1) Hopefully your sales and marketing team have not excommunicated these prospects just because they selected the competitor. Most organizations find it worth while to occasionally touch the competitor's customers.

    2) I would train all of your sales reps in the specific weaknesses of the competition. If they have delivery issues, train your team to talk about your own rock solid delivery schedules. If the competition has technical issues, train on your own continued R&D success.

    3) Train to never, never, ever mention the competition by name. It only looks petty. Your message is about your strengths... and if you happen to select the 2 or 3 strengths that blast your competition out of the water - well so be it.

    4) Offer non-price incentives for converting. These can come in the way of additional N/C start-up support, extended warranties, and other "add ins" that take the risk of switching away.

    5) Be prepared for a counter attack. Many competitors feel the urge to make retaliatory strikes once they realize you are successfully attacking them - and they will figure it out.

  • Posted byCarolBlahaon11/24/2008 at 9:58 PM Member
    No wissy emails-- just pick up the phone or walk in their front door and call on the friggin prospects. It is sales. Not order taking or magic mirrors. Get out there. establish a relationship and go sell something.

    If there was an easier way, I'd have found it-- years ago. And I make more than a livable income with those still looking for the easy way.

    Sell Well and Prosper tm
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