Home
>
Strategic Planning
>
Three Easy Ways To Know Thy Competitor

Three Easy Ways To Know Thy Competitor

"Did you hear what your competitor is doing?" This question has caused many business people to freeze in their tracks. How about you? Does your sales team know what your competitors are doing? And if a prospect was to ask them, "give me 10 unique reasons why I should buy from you and your company," could they answer this question without a pause? "Knowing thy competitor" is critical, and this article will outline three easy ways to know more about them, than they know about you! Let's get started!

Their people: Begin by "shopping" on the telephone, by mail and in-person, the competitors who offer similar pricing and products as your company. When "shopping" in-person, notice their sales staff and look for the way they dress, the tone in their voice, the organization of their office, the ease they display when presenting their product or service, and what questions they ask at the end of your conversation. By observing closely, you will see and hear the quality of person hired by your competitors and the time they invest in their training program. Then ask yourself, "how do these standards, compare to ours?"

Tip From The Coach: Whenever possible, interview EVERYONE who has worked for your competitor. You can learn volumes about how each company hires and trains their people and you will be able to identify their unique management style. Also, ask questions about this person's previous work experience, as it may give you new ideas for recruiting key people. And isn't finding a great team player always a hot topic?

Their product: "Shop" your competitors at least quarterly, listening closely for any new services or products they offer. Pay close attention to the quality of their brochures, the appearance of their products and any special ways they add "unique" value to buying from their company. Use a consistent "shopping" report so you can easily summarize the unique features and benefits of each competitor. Now, how does your company compare to the rest? And more importantly, how does your company compare to the best?

Tip From The Coach: Every Monday morning, have your sales team spend 15 minutes reviewing the "shopping" reports done over the previous week. When your team has this type of timely and detailed information, they should be able to easily respond to a prospect who says, "why should I buy from you and not your competitor?" Have your sales team practice handling this type of standard question, as practice does make PERFECT!

Their pricing: Once you know the specific details about your competitor's people and their product or service, your sales team will have much more confidence when they explain why your product is "special" compared to the rest. And when you focus on the strengths of your product, so will your prospects. Lastly, people buy from people! A small price difference can easily be overlooked, when your sales team is courteous and professional! Remember, each prospect is looking to find the right product/service, from the right company?and feel good about their purchase!

Tip From The Coach: If price is the only issue, work with your sales team to prepare in advance, a checklist of the specific features and benefits unique to your product or service, as compared to your competitors. Have each sales person practice presenting this checklist with confidence and accuracy as this part of their presentation will usually be enough for the prospect to say, "OK, how can we get started!"

So, follow these three easy steps and see how much easier it is to serve your customers when you know more about your competitors, than they know about you! If you would like to receive a free report to use when you are shopping your competitors please fax a request on your letterhead to 435-615-8670 and The Coach will fax you a sample report in ten minutes! Want to hear more about this important topic or ask some additional questions? Fax a note on your letterhead to 435-615-8670 or send an E-mail to ernest@powerhour.com and The Coach will fax/E-mail back to you a free invitation to be a participant on a TeleForum conference call.

Author's note: Ernest F. Oriente, The Coach, is the founder of PowerHour? a professional business coaching/recruiting service and the author of SmartMatch Alliances?. He has spent 17,500 hours [since 1995] delivering customized training, by telephone, in leadership, traditional/Internet marketing and sales for fast growing sales companies and entrepreneurial businesses worldwide. PowerHour? specializes in global distance learning by telephone, using their state-of-the-art conference call system for interactive and dynamic TeleForums. Twice-monthly TeleForums link 10-100 executives/professionals/individuals who are geographically dispersed, in a time efficient and profitable format.

PowerHour? is based in Olympic-town?Park City, Utah, at 435-615-8486, by E-mail ernest@powerhour.com or visit their TeleForum website: ernest@powerhour.com. To receive a FREE success newsletter, with subscribers in 74 countries, send an E-mail to: ernest@powerhour.com. Recent PowerHour? articles have appeared in 4000+ business/trade publications and websites.

apartment cleaning near Highland Park ..

In The News:

Holiday scams spike during Black Friday and Cyber Monday as criminals exploit your leaked personal data. Learn how to protect yourself from fake stores and phishing.

Commerce Department proposes TP-Link router ban over Chinese security risks. Learn how this potential prohibition could affect your home network and devices.

Hyundai AutoEver America suffered a data breach affecting 2,000 current and former employees, exposing names, Social Security numbers and driver's license information.

Washington court rules automated license plate reader images are public records, even when stored by vendors like Flock Safety, setting precedent for transparency.

Fake airline texts claiming flight cancellations are targeting travelers with convincing scams. Learn how cybercriminals steal personal data and credit card info.

Discover how iOS 26's new Adaptive Power feature automatically extends iPhone battery life by learning your usage patterns and adjusting performance intelligently.

New TikTok malware campaign tricks users into running PowerShell commands that download Aura Stealer, which steals credentials and authentication tokens.

Gaia Family offers fixed upfront pricing for IVF cycles with unlimited embryo transfers and financial protection, partnering with over 100 U.S. fertility clinics.

The Jetsons Act aims to position Pennsylvania as a leader in advanced air mobility by establishing regulations for hybrid ground-air vehicles.

Fake Geek Squad invoice emails are targeting users with convincing charges and urgent phone numbers to steal personal information and money.

Fox News Digital's artificial intelligence newsletter digs into a robot in Russia that faceplanted, George Clooney's alarm and OpenAI's rivalry with the New York Times.

Major data breach at Conduent exposes personal information of 10+ million people. Government contractor hit by cyberattack affecting Medicaid, child support systems.

Texas startup Janta Power raises $5.5M for innovative vertical solar towers that generate 50% more energy than traditional panels while using just one-third the land.

NASA's twin ESCAPADE spacecraft launched aboard Blue Origin's New Glenn rocket Thursday afternoon from Cape Canaveral, beginning their journey to Mars with arrival expected in 2027.

Learn how to set email reminders on iPhone and Android so you never forget to reply again. Simple built-in features help you stay organized and on top of messages.

Discover how Apple's passkeys revolutionize Mac security by replacing vulnerable passwords with biometric authentication and encryption for ultimate protection.

New survey reveals 78% of parents fear AI scams targeting their kids, yet nearly half haven't discussed these threats. Learn why this dangerous gap exists.

Chrome now autofills passport and driver's license info automatically. Google's latest browser update adds official document support with encryption and user control.

Scammers impersonate Department of Veterans Affairs employees claiming veterans owe money, but real VA communications only direct to VA.gov or official channels.

The AltoVolo Sigma hybrid-electric aircraft flies 500 miles at 220 mph while operating 80% quieter than helicopters, featuring safety systems and compact design.

Google search scam alert: fake customer service numbers can give scammers remote control of your phone. Learn how to spot these traps and protect yourself.

Electric vehicles overtake gas cars in total CO2 savings after just two years of driving, with emissions benefits growing over time as power grids get cleaner.

Louvre Museum reportedly used "Louvre" as password for surveillance system during $100M jewel heist. Learn how weak passwords put even famous institutions at risk.

Bipartisan AI jobs bill from Sens. Hawley and Warner would require companies to report AI-related layoffs and hiring to Department of Labor quarterly.

Joe A. from Shelton, Connecticut, lost $228,000 to a ZAP Solutions cryptocurrency investment scam after his divorce, highlighting rising online fraud.

Three Easy Ways To Know Thy Competitor

Strategic Planning