Archive for the 'Competition' Category

Jul 26

Dealing with Client Concerns

Topic: Competition, Market Intelligence, Startups, Strategies| 4 Comments »

I was rummaging through my old lecture notes, and came across one that I really wanted to share. It’s a great bit of information that will be very useful once the customers start rolling in. Below is a list detailing customer objections along with an appropriate response to keep the gates open. It’s much more difficult to make a sale once you’ve been shot down, but by keeping the dialog going, you’re more likely to come out on top.Calling

Just to note, these can be applied to current customer’s as well as cold calls. And, before we get started, I wanted to point out a great article I stumbled across entitled The Fine Art of Telephone Prospecting over at Freelance Switch.

OBJECTION

RESPONSE
“I had problems with a similar product before, and I don’t want to go through that again!” “Yes, I understand your attitude, but have you considered…”
“I’m too busy.” “That’s why I’d like to explain how I can save you time [and money] by…”
“The last salesperson I dealt with caused me all kinds of problems.” “That is a regrettable situation. It’s a shame that all members of my profession aren’t honest, but…”
“I like what I’m hearing, but I need to hold off for now.” “Let’s figure out how much you can save by acting now.”
“Your product sounds just like your competitors.” “There are similarities, however we have… and at a better price.”
“I’m not sure if I can risk a changeover to your product.” “Let me tell you how one of your competitor’s successfully made the switch to my product.”

That’s all for today startup students. Remember, tomorrow is Field Trip Friday so be sure to stop by. I’m putting together a great post about my home office. Class Dismissed.

Jul 18

Checking Out Your Competition

Topic: Analysis, Competition, Market Intelligence| Comments Off on Checking Out Your Competition

Good morning Startup Students! Today we’ll be discussing ways to gather intelligence on your competitors. This can be useful in a variety of ways such as identifying cutomer habits, picking up on competitor workflow processes, and so on. With such fierce competition in todays market along with ever changing consumer opinions, it’s imperative that you stay one step ahead of your competition.

Quickly, here are some things to think about when checking out your competition.

  • Remember that your competition is not necessarily who you think it is
  • Your customers determine who the competition is by patronizing those establishments
  • Be sure to broadly define your competition at the start, and carefully move inwards through the industry to determine all competitors.

And now for a few pointers on checking out your competition:

  • Pretend to be a customer
  • Talk to the business owners and find out as much as you can from them
  • Talk to their customer’s and get a feel for why they utilize your competitors service or product
  • There are tons of great resources out there, so use them! Internet, public filings, local libraries, etc.
  • Go to industry trade shows, seminars, and conferences
  • Complete a competitive matrix, similar to this

That’s all for today, if you have any questions or comments, don’t forget to post them. Class dismissed.