Put your thinking cap on, and take a look at your very best customer. The one that delivers a goodly amount of your revenue, and the one you love working with above all the rest. Got them pictured in your head? Let’s call it Monolith Industries. You love those folks, even if they are kinda geeky.
Now imagine that you work for your primary competitor. You want the Monolith account so bad you can taste it. And you-know-who has currently got the lion’s share of their business.
As you walk a mile in your competitor’s moccasins, here are four questions you should think about:
- Are there any weaknesses you could possibly exploit to your advantage?
- What industry or market trends could create an opening for us?
- Is the incumbent supplier addressing all their needs, or just some of them? Is that a way in for us?
- How is Monolith changing? Do they need help in new areas?
Of course there are other questions to ask beyond these four. But looking at your best account from a competitor’s perspective can do two things: 1) Show you where you are vulnerable, so you can prevent the competition from stealing your best customers, 2) Reveal sales opportunities you may have overlooked.
Of course, those same questions can help you unseat an incumbent who has an account you’d love to have a chance at!
Source: A video by Jill Konrath. To learn more visit www.jillkonrath.com
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