30 Minutes to President's Club | No-Nonsense Sales #351 - How to Outplay Competitors and Win High-Stakes Rip & Replace Deals (Jason Bay, Outbound Squad)
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Sep 3, 2024 Jason Bay, a leader in outbound sales strategies and CEO of Outbound Squad, shares his expertise on securing competitive sales deals. He emphasizes the importance of understanding why a prospect's current solution was chosen, which can reveal their motivations. Bay suggests confirming your position with champions late in the deal, and focusing on key product gaps during rip-and-replace scenarios. He advocates guiding prospects to evaluate competitors' weaknesses while highlighting unique strengths, ultimately aiming to forge strong relationships that lead to successful outcomes.
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Competitor Campaigns and Value Focus
- Run competitor takedown campaigns by focusing on the problem the competitor can't solve instead of attacking them in cold emails.
- Position your product around unlocking significant business value rather than just cost savings to drive deals.
Differentiating Rip & Replace vs Greenfield
- In rip and replace deals, focus on why the current solution was selected to uncover unmet needs.
- In greenfield deals, emphasize why the prospect should change and buy now, as they might not be convinced there's a problem yet.
Ask About Competitors Early
- Always ask early if prospects are evaluating competitors to shape your sales process around your differentiators.
- Don't fear mentioning competitors by name; use it to gather insights and tailor your messaging accordingly.