The Sales Hacker Podcast
The Sales Hacker Podcast

Episode · 3 years ago

Friday Fundamentals EP 8: How to Sell When You’re Facing Off Against a Direct Competitor

ABOUT THIS EPISODE

On this episode of Friday Fundamentals, we discuss competitive selling strategies. If you're going against a direct competitor, stay on the high road. Teach your sales team to differentiate between your product and your competitor.

Listen in today for actionable tips on today's episode. 

Hey folks, it's Sam Jacobs andyou're listening to Friday fundamentals, that portion of the sales hacker podcast. Wecome out on Friday and we give you one to two quick actionable insights thathelp you sort of tackle your day and tackle your sales career. And typicallythese conversations are coming from both the guests on the show, who are leveragingyears of sales experience, and they're coming from conversations within the revenue collective.That is, again the Networking Association and Advocacy Group of Commercial exacts that Irun. We're now in Boston, DENVER, Amsterdam, Toronto, London of courseNew York. If you want to hear more, just drop me aline and we'll talk about that in the show notes. But today we've gotbill bench, this week's guest and the chief Revenue Officer at Pendo, andhe's going to be talking about competitive selling strategies, how to how to thinkabout positioning the sale when you're going directly against what you would perceive to bea direct competitor. Now, before we get started, this episode of Fridayfundamentals is brought to you by outreach. Outreach triples the productivity of sales teamsand empowers them to drive predictable and measurable...

...revenue growth by prioritizing the right activitiesand scaling customer engagement with intelligent automation. Outreach makes customer facing teams more effectiveand improves his ability into what really drives results. Hop over to our reachOtio forwards sales hacker to see how thousands of customers, including cloud, areour glass door. Pandora and Zillo rely on outreach to liver higher revenue forsales route. So, Bill, thanks for being on the show. Wewant to talk about what are your best practices when you are going against adirect competitor? What do you coach her ups to do and how should wehead into that conversation with the prospect? So it's a great question. Thethe short answer is I try to teach people to just take and stay onthe high road. Sham, and let me break it down for you whatI mean by that. You can take a product like Pendo, our cellsto small business and big business. We sell here domestically in the US,we sell internationally, we sell to Bob Companies, we sell the BTC companiesand we sell in a couple spaces. We have an analytics portion of ourtool and we have a guide's and in APP messaging component to our product.Each one of those areas may have a...

...specific competitor. Right there might bea different small business compeer than in the business or national to international. Andso if you try to think about things from your competitive perspective, that's goingto be hard because you're always gonna be chasing your tail. And so whatI try to teach my team is take the high road, and what thehigh road is is think about the customer. What they care about and what theycare about is how do I extract value? I mean, we allin software sell technical products, obviously, or tools or platforms, but thefact is people buy them because they're looking to at some kind of output.So focus on that output. And what I try to teach my sales teamis you're going to go out to market and there's going to be some,you know, above board competitors like us that go in there and try tosell value and sell why their tools better, and there's going to be some blowboardones that try to drag you into the muds and into the mud andand what I try to teach is don't take the bait, don't go inthe mud, go back to the cust we're into the customer saying hey,they gave me this chart that compares them against you. Do you have asimilar chart? Just be bold and confident...

...and say no, we don't.We don't spend time building that Shit, because what we spend our time onis focusing on you. And if that doesn't reverberate, if that doesn't hitto the customer, and then you know what? Some customers want to seea blood bath. They want to see you get down the mud and doget out with your competitor question where. That's a great great buyer. Butthe reality is, as I like people that stay very focused on what theoutput is for the customer, so much so that I have a slide thatI show my sales seems that it says differentiator, something only Pendo does,that no one else can, that our customers care about. Oh so youteach like specific and, of course, to your point, you have toknow some of those differentiators as well. Yeah, absolutely. I mean,like, I'm not saying that you're just going to keep everything at the atmosphericlevel, but you're certainly you know I'm going to come and train my teamon. Why is our product you eat? Why is it different and why doesa customer care about that? Right like you, you can say,Hey, we have this feature, and the fact that nobody ever use thatfeature, well, that tells your customers...

...aren't really care about so it's gotto be something that's compelling for your buyer to want to tune end to makesense. Bill, thanks so much for being on Friday fundamentals and it's beengreat having you on the show this week. So thank you very much. Yeah, absolutely good to join.

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