Competitive Analysis and Objection Handling

"Know Thine Enemy"

Knowing Thine Enemy was a key strategy of Sun Tzu, an ancient Chinese general whose battles are still studied in military academies.

Know Thine Enemy.  Who are they?  What are their markets, messages, products, value proposition, and strengths?  Know their offensive strategy and the objections they will they raise against you.

When you know all this, you can develop a defensive strategy that neutralizes objections and turns them around.  For example, if the objection is, "Well, they're having financial difficulty", turn it around to, "Everyone has financial issues to deal with -- including them!  In our case we're about to secure $10M in VC".

Use your offensive strategy to establish as much economic value as possible in the customer's mind.  Create and distribute a "5 Reasons to Buy Us" list.  When you attack the competition’s weaknesses, know how they’ll respond.  Anticipating their response allows you to set traps so you can raise even more difficult objections against them.

Remember, according to Sun Tzu, "The key to victory is not in defeating the enemy, but in defeating the enemy's strategy".

This has been Phil Janus of "Going For The Close".

Good Selling everyone.