Transcript
WEBVTT
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Think about your competitors is like fierce
warriors. I think that we need to
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have respect for the people we sell
against, because capitalism, baby free market.
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Welcome to the BDB gross show.
I'm your cohost, Patrick downs,
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the eternal sales and amlement and trading
manager at pantadoc. If they'll let me,
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today we're going to be talking about
five ways to sell against competitor.
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I'm here with Michael Palladino now,
and affectionately as pal internally, is the
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head of sales here at PANTADOC.
Thanks for being here at PAL introduction.
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Thank you so much for having me. As you mentioned, Mike Palladino,
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head of sales, been here for
almost four and a half years now,
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so seeing a whole lot of different
things and I'm happy to have the opportunity
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to share some stuff with you today. Yeah, I don't think we've ever
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had this kind of conversation. It's
usually more like behind closed doors. That's
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can go kind of thanks. I'm
excited. Yeah, absolutely, it'll be
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fun. All right, I want
to start about how you internally view the
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competitive landscape. While you're selling,
how are you thinking about your competitors?
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Yeah, I think it's a great
question and I I actually believe that you
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should kind of have two schools of
thought on this internally, one is your
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client facing opinion of your competitor and
then your internal opinion of your competitor.
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So by internally right, like we
at Pantadoc, we have a mission to
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beat some of our competition. However, when we're we're in, you know,
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a conversation with a prospect who might
be evaluating to it's much more about,
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you know, respecting the competition,
giving them some credit, especially stuff
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that has brand recognition in the market, so that we don't look like fools
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as experts in the space, we
should be very well versed in the competition.
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So I think that there's a fine
line between knowing your competition educating your
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buyers on you know, making sure
that they're making the right decision, because
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that's ultimately our job if we're going
to be customer centered and being consultative about
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strengths and weaknesses based off of the
specific use case, and try to be
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as honest as you possibly can.
How often are you recommending like hey,
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maybe this isn't a great fit,
maybe there's somebody else even giving a name?
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Is that common for you? Oh, absolutely. You know, I
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think that it's it's really important for
us to be considered trusted advisors as sales
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folks. So of course it goes
back to sort of that honesty topic,
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but it's also a tactic to try
to sort of try to maybe create some
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momentum with an opportunity of things are
stolen out and you know, maybe there
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is a competitor who might might be
a better fit or a competitive fit.
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Suggesting that somebody maybe go with a
competitor is is almost playing hard to get
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sort of with with the prospect you
know, go ahead and see what the
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other what the what the other folks
on the market might be able to do.
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You'll be back alluding to that.
I think is is is useful.
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However, they're also like situations where, if your solution really can't provide the
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value that the buyers looking for,
better to maintain the relationship as a trusted
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advisor and consult them on on the
proper solution at this point, because in
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the future they might come back for
something else, they might need a different
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type of a solution in the future, and they're going to remember that client
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experience. They're going to remember that
that person who they could trust and they'll
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come back. Yeah, I mean, the last time I gave a suggestion
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for a competitor, I actually got
a netflix recommendation in return, which was
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kind of a win win for me, since that that was my weekend.
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That you never know. Yeah,
I mean, Hey, you learn something
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every day. There's always there's always
something funny that might happen on a call.
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That's not the outcome that you were
looking for. And if it's good
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contents, good content. I'm sure
you appreciate that a hundred percent. And
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I used to be like, look, if you're not going to buy,
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always go like by Linkedin Post.
I need more traction. You know something,
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I need something the trade right,
like you got to win something,
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you gotta you gotta score somehow.
They're right. Yeah, and what is
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a common thing you might try to
go for, like hey, this might
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not be a good fit, but
maybe something else we can do together,
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or there something you can get out
of the interaction? Yeah, I mean,
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you know, one thing that I
tend to rely on as a sales
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leaders, if I noticed that we
might be moving in a direction where we're
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not the best fit, I try
to open up myself as a resource to
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maybe trying to help with workflows or
anything internally for their sales leadershift team.
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Even with current customers, were doing
this too. It's almost like an added
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bonus. With some of our some
of our customers who are using like fringe
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features in the product and not really
our core usage will like have a consultation
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conversation with antidox sales leadership, and
it's really it's really fun for me because
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it's like you just kind of get
to talk shop, similar to what we're
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doing here in the way where you're
really just trying to speak with like minded
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individuals and learn something yourself as well. But yeah, I mean there's there's
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there's other ways you can do it
too, like maybe share some content that's
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not relevant to the to the product
that you were selling before, just to
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try to keep that kind of like
relationship going. Like a thought of you
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here, something that maybe you I
thought you might find interesting. It's sort
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of like light fishing where perhaps they
are thinking of you and something changed on
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their and it's worth while to have
another conversation or even a referral. You
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know, if you can maintain relationships
interact with folks on social media you're going
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to start to see some stuff come
back to you, even in those situations
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where it might have been a loss
on that initial all it's so important to
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set up the boomerang. At I
we get a lot of our business from
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boomerangs. I mean it feels like
sometimes like forty percent of what I was
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closing with stuff that just came back, and it was sometimes a deal that
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I thought ended like pretty conclusively.
There's no way we can move forward as
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is over, but I try to
give them a decent experience at the end
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of it and the ended up coming
back, and so you never know it's
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going to happen and that's why I
think it's so important to just not be
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cool. Yeah, and that scenario, and especially when you're working in like,
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you know, the space that we're
in, where we're a part of
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a text stack. You know,
quite often people think about what they need
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and they just go to market evaluate
a bunch of things and then they prioritize
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sort of the order with which those
those evaluations might take place, generally crm
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being the number one project and the
source of strain and stress during some sort
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of a transition like that. You
know, added Bonus added value tools like
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Antodoc in that crm. You know, workflow might be project number two.
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So that's part of the reason why
I think we see a lot of those
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boomerangs and if you're in that type
of space, it's almost even more crucial
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for you to maintain that good that
good customer relationship. I'm sure that's why
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you capitalized off of a lot of
that stuff. was was due to your
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own your own flare and your own
ability to build relationships with those folks a
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hundred percent and just sort of pivoting
off of that. When you get back
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into that conversation and there's, you
know, maybe a different competitors, a
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different conversation, how are you framing
it right? What is your process when
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someone brings up a competitor? If
it is a good fit and we're going
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head to head, like apples to
apples, how do you sell? Well,
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I think it generally it's important to
hear it and not react to aggressively.
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Almost it's like you should presume that
your buyers are going to look at
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the competitors in your market right like
if they're if they're a smart buy or
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they would do that. So don't
be surprised when someone brings up a competitor
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on a call or even on a
boomerang. In that situation, it's to
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be expected, right. So if
you are prepared to hear that the competition
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is is, you know, potentially
has a seat at that table, I
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think it's really important to do what
we said before and and respect the buying
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process and give them a little bit
of credit for the the way with which
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they're evaluating because, you know,
you can even say what I just said.
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They're oh, yeah, of course
you're an educated buyer like I would
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expect you to take a look at
the competition and you know there's a reason
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that sign is the leader in the
space. They have a great solution and
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they have an awesome, you know, chunk of the market for a reason.
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You know, like that's that's a
pretty a pretty nonthreatening way to give
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the buyer a bit of a egostroke
when you telling their doing a good job.
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And then, by the same token, if you listen to what that
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buyer is saying, there's nothing wrong
with educating them in a transparent way about
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maybe the pitfalls of the of the
competitors based on their workflow, and giving
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them a as close to an apples
to apples comparison, but making sure that
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it's quite clear that we're comparing apples
to oranges and specify that we're different for
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a reason and that's why you want
to go with us. Yeah, and
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on your point of when people are
kind of like patting your ego little bit.
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I was on a demo once.
I mentioned that we were using a
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competitor already and he was just like, dude, that's awesome. I'm so
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glad you already know where you're shooting, like you already hit the bulls eye,
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like I want to help you like
go even further. Yeah, I
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have to say that it's generally a
positive for me if I hear someone bring
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up the COMP competition early stages,
for sure, because your buyers much more
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educated. That's going to make your
job a lot easier. Sometimes that's a
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double edged sword because you start talking
about how we're different specifically, and that's
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not really the conversation you want to
have. The conversation you want to have
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is understand what the buyer needs,
how you can solve that problem and confidently
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put forward that our product is the
right thing, regardless of that external that
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external factor. But sometimes it's tough
to to get somebody's mind off of a
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competitor if they came from it right. So like a transition from a competition
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to, say, panted doc on
a renewal. Sometimes those conversations are a
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little bit more difficult because you're really
trying to give them a vision that's different
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than something that they're used to.
So it's a little bit more subtle in
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that situation. Yeah, and I
think it's always good to also ask challenging
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questions of people when they bring up
a competitor. Sometimes they'll Ba hey,
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patrick, how are you different from
sign? And I say yet, have
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you seen a demo yet? And
they say yes and I go, okay,
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I got a question for you.
Do you mind? It's like now,
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okay, well, I'm curious why
you didn't just buy you sign on
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the spot. Love it. Just
get them to tell you what is missing,
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because if someone's talking to you still
they're looking for something else that they
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didn't see someone else. It's like
I didn't have this. Great now we
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can have an actual conversation instead of
me just reading off a competitive Intel report
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that you could just see on the
website and that feels so much different to
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than just like being told we're better, we're different, we do all these
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different things. You know, there
you've open sourced that conversation to an extent
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and that buyer feels like they're involved
and they almost convinced themselves of why they're
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here, as opposed to having having
moved forward with that competitor. So I
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love that. Yeah, I don't
think anyone's ever convinced me of anything.
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They've only ever tricked me into convincing
myself to do it. That's the only
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time it's ever worked. So you
got to think at the same way how
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you react to things as how your
buyers going to react, and everyone's human.
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Yeah, you're right. So,
on the spirit of winning, do
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you have any stand out stories of
when you did end up like basting a
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competitor, like the last moment or
something that you might want to share?
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Yeah, there was a good one. That was actually on New Year's Eve
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two years ago. We were on
call with can't say the customer, so
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I won't do that, but I
really call with a relatively fast growing HR
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software company and it was it was
a pretty straightforward use case that was certainly
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coming down to pricing, it seemed
in this in this conversation and our prospect
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he he made it very clear that
it was strictly price and it wasn't customer
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experience, that that that they were
buying for. So instead of, you
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know, asking for their quote from
the competitor and trying to undercut that and
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maybe give a different price, we
ended up talking about that customer experience instead
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and we said, you guys are
growing, you're going to end up expanding
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on your instance over the next twelve
months and we're positive that in year two,
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if you were to go with the
competition, you're not going to have
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as scalable price point as you might
think. And you know, due to
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the trust that we had built during
that that sale cycle, instead of this
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buyer, you know, doing his
research and actually going back to kind and
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asking for a better deal or a
more scalable price, they trusted us that
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we were going to actually help them
scale their instance as they were growing and
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they were cash conscience as a start
up. And while it seemed like it
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had to do a price on this
specific deal and maybe we could have came
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down on that price to try to
win it, we learned that it was
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much more the bigger picture of the
scaling price and and due to trust.
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You know, he took us at
face value for that statement, which was
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true. We weren't lying to him, but due to trust, I do
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believe that that's that's how we got
that that proposal sell. Why do you
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think you trusted? You Will Patrick, I think you know, at least
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from working with me for a few
years now, that I have more of
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a challenger style and there were multiple
instances where the Rep looped me in for
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an authority conversation during the sale cycle
and you know, by the time we're
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on that that final call, I
had somewhat of a reputation with this buying
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committee. That wasn't necessarily negative,
but it was pretty clear that I was
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kind of being the task master,
almost. But but because I owned that
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role early on in the cycle,
I feel like the buyers knew that,
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while I might be a little brazen
in the way that I approach something,
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that the words that are coming out
of my mouth they could take to the
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bank. So I do think that's
that's really why they trusted us in that
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situation. It's amazing and don't worry, I can believe about the competitor and
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name Post. We'll leave this part
in those that people are like, who
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was it? And you could just
pay me directly or, like, on
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my linkedin don't worry. But I'd
like to leave on something that I think
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is really important. When people are
starting in sales, they oftentimes just kind
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of like do what feels natural,
and unfortunately selling is not natural. So
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what feels natural usually doesn't work.
So what are some common mistakes that you
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see people making when they're selling as
competitor when they're new, that you want
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them to avoid so they never have
to have that terrible experience? It's a
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great question and to bring it back
to a metaphor that's pretty tried and true
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in sales lingo. Like think about
it is if you were an according situation
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with somebody that you're interested in.
Right, that individual might be interested in
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somebody else too, but they can't
really make a decision between you and the
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competition in this situation. Right.
Well, the person who's like actually interested
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in and maybe getting to know that
other person for the right reasons is probably
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not going to tell them that they're
stupid for considering somebody else that they like.
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Right like. That's that's almost that's
almost dissing yourself. It's like you're
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looking at this guy, you like
me too, but then you're going to
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start talking trash about that that competition. In the moment it feels like that's
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the right thing to do because you're
in your like fight or flight, almost
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like Oh, I want to win
this right now, I need to I
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need to start talking smack about the
competitors. It's like, well, maybe
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it's better to educate about the competitors, maybe what you know, or maybe
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even bring in some empathy, like
I understand why you might be interested in
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something like that, at least in
that in that situation. If in fact,
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you do lose the first the first
go around here, you still might
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be in it for the long haul
because you are open and honest in that
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first and direction. Hundred percent.
That's what the boomerangs come into. So
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don't be too desperate, don't smack
talk. Pause. I think that's a
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big one. When you hear objections
and bring up a competitor, you agree
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that's an objection indeed. I mean
it's definitely something you need to you need
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to hone in on. It's not
something that you can ignore. It's definitely
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at least grounds for an objection in
the future. At the very least.
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I Seen Reps. they here docus
in the God. All right, cool.
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So, like, what are you
doing right now for your proposal system?
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And it's like none. Now,
like, hold on for a second.
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That's important and it's going to bite
in the ASS. So so,
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when you hear that pause and really
think, because if you're talking to somebody
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and they're immediately just coming at you
as soon as you stopped speaking, one,
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it's pretty clear you weren't actually listening, you were just waiting to talk
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to it seems like you're incredibly scripted
and you're just saying what someone else told
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you to do, which comes off
as fake. And three, it's usually
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not the right thing because you didn't
think about it and just blurted something out.
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Yep. So I think I can
a great way to put it is
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like is don't be too aggressive,
like you're going to scare the fish away.
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To an extent, that situation,
you know, strip line, baby,
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you know I want the sailor stuff. Well, this is fun,
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Mike. That's all the questions I
have for you. Just to like highlights
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some takeaways. Think about your competitors
is like fierce warriors. I think that
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we need to have respect for the
people we sell against, because capitalism,
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baby free market, who wouldn't be
here if it wasn't for them? Having
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a process, pausing and just making
sure that you're you're thinking really hard,
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I think, for you under the
conversation. Is there anything else you would
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add sort of stackaways? No,
I mean like for just a quick takeaway
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on that. It's almost like,
you know sports. You know you're not
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going to become the best that you
possibly can be unless somebody else is pushing
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you and is actually fighting for that
same spot. So you do need to
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respect your competitors and actually appreciate them
at a very general level, and I
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think if you take that attitude into
calls, you're going to you're going to
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avoid a lot of the pits balls
that come along with, you know,
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conversations around competitors a hundred percent.
And in the spirit of that. Is
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there anything you want to plug?
Oh, I mean, yeah, why
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not? Speaking of competition, if
you're currently unhappy with your your provider for
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00:18:45.490 --> 00:18:52.930
proposal workflows, are you signature Panta
doc is a as a as a bit
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the jug or not, and come
see what we're all about. Sign up
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for a chop. I love it. Thank you for that and thanks to
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00:19:07.559 --> 00:19:10.789
everybody for listening to this episode of
the B Tob Growth Show. Again.
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00:19:10.869 --> 00:19:12.750
I'm your cohost, Patrick downs,
the eternal sales and ablement trainer, a
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00:19:12.789 --> 00:19:18.430
PANTADOC. Please connect with me on
Linkedin. Desperate for I need more followers.
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00:19:18.509 --> 00:19:21.789
I eat them up and I'm happy
to answer any questions provide recommendations.
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00:19:22.190 --> 00:19:25.099
If you like the episode, are
of a question, please join the discussion
275
00:19:25.539 --> 00:19:27.460
on instagram. It's be to be
gross. Thank you, guys, and
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00:19:27.500 --> 00:19:30.420
have a great day. This episode
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