Over the last couple of weeks, I’ve presented the two ideas below to help qualify leads:
- Position yourself before asking questions.
- Indirectly ask about their budget.
Today, we’re going to discuss the concept of competition and how to uncover information to help you win.
Idea #3 to qualifying leads: Directly ask about competition.
Knowledge about the competition is not as delicate as a customer’s budget, so it’s more effective to directly ask them about the competition and sit back to hear their response. I suggest asking the following two questions, and responding accordingly depending on their answers and tone.
1. “Who else is submitting a quote?”
If they answer this question transparently with the names of the companies, follow their answer by asking them “What experience do you have working with these groups?”
If they answer “no one”, don’t act surprised. Act like they’re making the right decision by working exclusively with you. If you act too surprised, they may reconsider and start searching for other options.
If they don’t tell you who they are but imply that there is competition, then move onto the next question.
2. “How many groups are submitting a quote?”
If they don’t answer this question with confidence, then move on. It’s likely they’re not having anyone else compete against you, but they don’t want you to know. Let’s not push it.
If they let you know the number of competitors but don’t tell you who they are, then move on. The ratio of value you receive from more knowledge to potential of annoyance they experience is not high enough.
Either way, make this your last question about the topic unless they invite you into a deeper conversation about competition.
Understanding your competition is like a politician knowing polling numbers. They’re both helpful to know, but it’s possible to get too wrapped up in this type of information, pulling you away from the customers’ needs and your core value proposition. Remember, you’re not trying to beat your competition. You’re trying to win the business.
