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By Liz Stone March 17, 2016

Five Reasons Why You're Losing to Your Competitor

Are you tired of losing to your competitors? Is there a particular competitor that you find yourself constantly coming up against? Is there a new competitor in your space that's starting to gain traction?

While every industry is obviously different and there are many factors at play when it comes to competition, such as pricing structure, client relationships, recognizable brand name, referenceable accounts, etc., there are five common reasons across the board for why certain companies continue to dominate over others.

  1. They have a plan: Your strongest competitors don’t go into the field willy-nilly. They have pre-prepared account plans and close plans within arm’s reach, and they’ve done their homework; they know where they are in every opportunity and how they plan to win. And you better believe that part of that plan is how to make sure you don’t steal the deal.
  2. They’re watching you: “Keep your friends close and your enemies closer” certainly applies in the competitive landscape. Your smartest competitors are closely watching you to find cracks in your strategy and weaknesses they can turn into opportunities. They are studying your industry presence, asking your customers about you, trying to obtain copies of your sales/marketing collateral and latest numbers, tweaking their pricing to undermine yours, and placing landmines in your path for you to unknowingly stumble into.  
  3. They’re always refining: Your strongest competitors don’t settle for status quo. They are committed to continual refinement, and regularly reassess the market and their standing within it to determine new opportunities as well as areas of improvement.  They conduct regular sales team training to ensure everyone is on the same page, and understands and follows the latest processes, messaging, strategies, and goals.
  4. They’re unified: The strongest sales teams march in unison. Everyone has bought into and follows the same sales process and use the same messaging. They support one another’s efforts rather than undermining them, and exercise transparency by keeping the rest of the team updated on the status of accounts to avoid redundancy and confusion.  
  5. They’re disciplined: Your competitors are winning because they have repeatable, scalable and trackable tools in their pockets that they religiously follow, such as sales playbooks and best-practice processes. Only “A” players remain on disciplined sales teams – they are the ones who are committed to the vision of the sales organization and are truly passionate about what they sell, and their company/product.

Quit accepting second (or third, or fourth...) place! By  practicing their secrets to success: developing a high-functioning sales team, maintaining a disciplined sales process, and developing compelling messaging and targeted strategies, you can position yourself against your competitors and start winning against them.

Topics: Sales Process, Sales Success, Sales Playbook, Sales Strategy

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