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 and you're listening to Friday fundamentals, that portion of the sales hacker podcast. We come out on Friday and we give you one to two quick actionable insights that help you sort of tackle your day and tackle your sales career. And typically these conversations are coming from both the guests on the show, who are leveraging years 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 I run. We're now in Boston, DENVER, Amsterdam, Toronto, London of course New York. If you want to hear more, just drop me a line and we'll talk about that in the show notes. But today we've got bill bench, this week's guest and the chief Revenue Officer at Pendo, and he's going to be talking about competitive selling strategies, how to how to think about positioning the sale when you're going directly against what you would perceive to be a direct competitor. Now, before we get started, this episode of Friday fundamentals is brought to you by outreach. Outreach triples the productivity of sales teams and empowers them to drive predictable and measurable...

...revenue growth by prioritizing the right activities and scaling customer engagement with intelligent automation. Outreach makes customer facing teams more effective and improves his ability into what really drives results. Hop over to our reach Otio forwards sales hacker to see how thousands of customers, including cloud, are our glass door. Pandora and Zillo rely on outreach to liver higher revenue for sales route. So, Bill, thanks for being on the show. We want to talk about what are your best practices when you are going against a direct competitor? What do you coach her ups to do and how should we head into that conversation with the prospect? So it's a great question. The the short answer is I try to teach people to just take and stay on the high road. Sham, and let me break it down for you what I mean by that. You can take a product like Pendo, our cells to small business and big business. We sell here domestically in the US, we sell internationally, we sell to Bob Companies, we sell the BTC companies and we sell in a couple spaces. We have an analytics portion of our tool 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 be a different small business compeer than in the business or national to international. And so if you try to think about things from your competitive perspective, that's going to be hard because you're always gonna be chasing your tail. And so what I try to teach my team is take the high road, and what the high road is is think about the customer. What they care about and what they care about is how do I extract value? I mean, we all in software sell technical products, obviously, or tools or platforms, but the fact 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 team is 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 to sell value and sell why their tools better, and there's going to be some blowboard ones that try to drag you into the muds and into the mud and and what I try to teach is don't take the bait, don't go in the 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 a similar 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 on is focusing on you. And if that doesn't reverberate, if that doesn't hit to the customer, and then you know what? Some customers want to see a blood bath. They want to see you get down the mud and do get out with your competitor question where. That's a great great buyer. But the reality is, as I like people that stay very focused on what the output is for the customer, so much so that I have a slide that I show my sales seems that it says differentiator, something only Pendo does, that no one else can, that our customers care about. Oh so you teach like specific and, of course, to your point, you have to know 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 atmospheric level, but you're certainly you know I'm going to come and train my team on. Why is our product you eat? Why is it different and why does a customer care about that? Right like you, you can say, Hey, we have this feature, and the fact that nobody ever use that feature, well, that tells your customers...

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

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