Setting up and assign competitor products gives your sales team valuable insight into leads behavior. Having and using this information allows them to be more prepared when making first contact.
To be able to use competitors throughout the system first you have to set them up in the settings companies section.
On each company page, in the right sidebar there is a list of all your products and the competitor mapped for that specific company.
When editing the list you can select the competitor for each product and for each competitor you can say: how satisfied the company is right now, and since when are they using them.
Once you have set up the competitor products and assigned them to specific companies, your sales team can use this information in several ways:
- Tailored outreach: When reaching out to a lead, sales reps can reference the competitor products the company is currently using and highlight how your product addresses any pain points or limitations they may be experiencing.
- Competitive analysis: By analyzing the competitor products used by your target companies, you can identify trends, common challenges, and opportunities to differentiate your product in the market.
- Timing: Knowing how long a company has been using a competitor’s product can help you determine the best time to reach out. For example, if a company has been using a competitor’s product for a long time and is not fully satisfied, they may be more receptive to exploring alternative solutions.
- Personalized demos: When preparing for a product demo, sales reps can use the competitor information to tailor their presentation to address specific features, benefits, or use cases that are most relevant to the prospect’s current situation.
To make the most of competitor data, ensure that your sales team is trained on how to access and use this information effectively. Encourage them to regularly update the competitor data as they learn more about each company through their interactions.