Do you know why competition is so fierce in enterprise sales?
The bigger and more prestigious the brand, the more salespeople will be around trying to win the shiny logo. And the larger the organization, the more ears that may be receptive to your competitors’ messages.
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Obviously, depending on the type of product or service you are providing, there will be more or less competition. While innovative offerings may find it hard to evangelize large corporations, more commoditized products may find themselves in a pool with a lot of sharks. In most cases, you will find yourself working against multiple competitors that can even be substitute solutions towards which you do not have a big share of experience in your playbook. Moreover, because of the long sales cycles, you might see new competitors evolve while you are working on the deal.
Three Tactics to help you
Know your enemy: work with the people on your team who have the best knowledge of your segment and try to be at the edge of what is going on. Learn your competitors’ value prop and get as many insights about their strengths and weaknesses.
Understand their position: Connect with your competitors’ sales reps on LinkedIn to see who they are connected in your prospective organization
Set up traps and avoid them: based on your knowledge of the competitors and yourself, ask your prospects questions that make them think about your competition’s weaknesses. Further, know exactly which objections your competitors will raise and how to handle them.
Three Pipedrive Best Practices to excel:
Model your competitors in Pipedrive - keep records, collect information about strengths and weaknesses and make it accessible to your team.
Use related organizations in vizrm to see who of your competitors are active in your accounts.
Note down the relationship info you get from LinkedIn on the deal record.
