Their basis for competitive knowledge is the bits and pieces of information they pick up from their customers, lost orders and competitive bids.

While this may have been adequate in the past, an absolute knowledge of your competitors and their products is a competitive advantage for the sales person. It should not be ignored.

Implications to the Sales Person

Competitive knowledge allows the sales person to successfully position their offer against the competition in a way that maximizes the company’s strengths against the competitor’s weaknesses.

Major orders often hinge on the minor differences between products. The sales person must have the knowledge to know how to differentiate themselves against the competition. They need to know the differences in products, services, support and pricing and have the capability to use this information to their advantage.

The Application

Take a proactive approach to competitive knowledge. Several strategies that can be employed to increase competitive knowledge include:

Product Presentations If the competition holds informational seminars or presentations on their products or services, especially at trade shows, sit in to hear what is being presented. Take copious notes and collect all the available literature. If possible, ask questions to clarify key points of interest.

Product Brochures and Advertising Study competitive product brochures and advertising. Read trade journals and scan them for press releases on competitive products. Determine the strengths and weaknesses of these products and compare them with what you are selling.

Interview Users for Levels of Satisfaction Talk to the users of competitive products. Ask the features they like and those they hate. Probe for the strengths of the products and determine the Achilles Heel of each product.

Something to Think About

Without adequate competitive knowledge, you place yourself at a competitive disadvantage. With this in mind, consider the following points:

1. Every sales person will compete with a handful of primary competitors in their territory. Can you list the primary competitors in your territory, their products, strengths and weaknesses and major accounts? If not, why not?

2. When you lose an order, do you take the time to critique the reasons you have lost the order and the reasons why the competition obtained it? Explain what you do.

Author: Timothy F. Bednarz, PhD, American Management Development Group

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