How to Unseat an Entrenched Competitor

Access your free copy of this video now and find out why traditional sales techniques don’t work with prospects who say, “I’m happy with my current vendor” — and learn what you need to do to win their business.

  • Why ordinary approaches backfire against entrenched competitors
  • What prospects mean when they say they’re happy with their current vendor
  • A new approach that seems counterintuitive – but works
  • Why it can change the rules of the game
How to Unseat an Entrenched Competitor

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More information for those who love the details …

Three quarters of customers say they’re satisfied and aren’t looking for a new supplier.
– American Customer Satisfaction Index

As a sales pro, you’re always encountering prospects who have no intention of switching suppliers. “Thanks but no thanks,” the prospect tells you. “We have no plans to change.”

These are tough sales so why not just focus on prospects that are actively looking to make a change? Because according to the American Customer Satisfaction Index, three quarters of customers say they’re satisfied and aren’t looking for a new supplier. So if you pass them up, you’re left with only a few prospects – the same ones that everyone else is chasing.

Identifying pain points doesn’t work

Conventional sales techniques don’t make much headway with these prospects.
You may have tried some of these approaches:

  • “Tell me where it hurts,” you say. “It doesn’t,” the prospect replies.
  • “What do you wish you had that you’re not getting now?” you ask. The prospect thinks, “If I wanted something, I’d tell my vendor, not you.”
  • “You’re missing an opportunity,” you say trying to create urgency. The prospect responds, “You can’t pressure me into buying.”

Sales techniques to take on incumbents

Taking on incumbents is tough. This report will show you an approach that can open doors when they seem firmly closed. You’ll discover why traditional sales techniques work against you when you’re trying to dislodge an established supplier. And we’ll show you a radically different selling technique and explain why it’s the best way to change the rules of the game in your favor.

Think of the opposite of what usually works

Customers see any change from the status quo as a liability.
– Harvard Business Review

Some sales pros think the best way to get a prospect to switch is to identify, or create, a need the other guy can’t fulfill. But to get those benefits, the customer has to change. Hammering prospects on the benefits of change is not the best way. Why? Because, as a Harvard Business Review study concluded, “Customers see any change from the status quo as a liability.”

When they say, “We’re happy with what we have,” they’re really saying: “We don’t want to incur the cost and aggravation of change.” They will accept change – but only if there’s a big advantage to offset the negatives. In fact, researchers found that the benefits have to outweigh the cost of change by at least a factor of 3, or buyers aren’t interested in switching. By this standard, it’s clear that the sales pro who sells change never has a chance to unseat a competitor.

Emphasize similarity to beat an entrenched competitor That’s why you have to take a radically different approach to cracking open these opportunities. It may go against your training and instincts. Instead of talking about how you’re different, emphasize how much you’re like your competitor. But not exactly the same. Provide one compelling, game-changing benefit. The key is that its pure gravy in a deal that requires no switching cost, and no pain.

“How to Unseat an Entrenched Competitor” will show you how to:

  • Reduce the current supplier’s advantage by getting prospects to see that they don’t have to change their behavior.
  • Emphasize similarities, not differences between yourself and your competitor.
  • Focus on one key benefit that your competitor can’t match.

Access this free video now and get free access to a sales training resource to help you win over prospects who say they don’t want to change.

Sincerely,

Steve Meyer
Stephen Meyer
CEO/Director of Learning and Development, The Rapid Learning Institute

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