Friday, September 25, 2009

Learning from Your Competitors


Learn from Your Competition
by Mike Brooks

As salespeople, we're in a constant struggle to outsell our competitors. We may have never spoken with them or met them, but we know they're out there. Why not learn a little about what they're doing and improve your skills at the same time?

I'll never forget a call I got from a competitor when I was selling investments. Because I invested in my company's programs, my name was sold to other investment firms and before long, I began to get calls.

At first I wanted to hang up on the guy. When I attempted to brush him off, I was surprised by how well he handled my initial objections. So, I played along. What happened next was some of the best free training I ever received.

How often do you allow yourself to be "pitched" by your competitors? Have you ever thought about doing it? Major companies do this all the time. They even shop themselves to see how well trained their own reps are. If you haven't done this yet, you need to get on it!

Let's face it; your competitor is selling the same products and services you are. They run into the same objections as well. Who better to learn a new technique or better way of doing things!

There are a number of ways to do this:

  1. Call into a company and act like a buyer. Ask the same questions your prospects do and then give the same objections. Try it with different reps at the same company to learn even more.
  2. Get on their lead list. This is a great way to learn of your competitor's promotions. Ask questions like your prospects do. After you give your objections, tell them to try you again in a couple of months-some will!
  3. Fill out their web request form for more information. This is another great way to be pitched and it allows you to also measure their response time. Loads of good information will come from this.
The bottom line is that if you don't know what and how your competition is selling, then you can't be competitive. What are their prices like? What special offers are they using to get new clients? How are they dealing with the economy?

There are many benefits to "shopping" other companies. If you're not doing it, then try it this week. You will be surprised at what you'll learn!

Mike Brooks, Mr. Inside Sales, offers free closing scripts, and a free audio program designed to help you double your income selling over the phone. He works with business owners and inside sales reps nationwide teaching them the skills, strategies and techniques of top 20% performance. Learn more at

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