• How to Convince Buyers to Switch to Your B2B Company From a Competitor

    Posted On Thursday, June 18, 2020 by Evan Lamolinara

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    Has a buyer rejected your B2B company's sales offer because he or she is already using a competitor's product or service? Objections are a common occurrence in the B2B industry. Even if a buyer has already partnered with one of your B2B company's competitors, though, you may be able to convince him or her to make the switch. Nearly all sales objections can be overcome; you just need to use the right approach. So, how do you convince a sales lead or buyer to make the switch from a competitor?

    Inquire About the Buyer's Level of Satisfaction

    Upon discovering that a buyer is already using a competitor's product or service, you should inquire about his or her level of satisfaction. Don't assume the buyer is satisfied with the competitor just because he or she is using their product or service. Maybe the buyer believes the competitor's prices are too high, or perhaps the buyer is skeptical of the competitor's warranties or guarantees. Regardless, you should ask the buyer whether he or she is satisfied with the competitor's product or service. You can then apply this information to your sales strategy in an effort to convince the buyer to switch to your B2B company.

    Research the Competitor

    Spending a little time researching the competitor may prove beneficial in convincing the buyer to switch. After all, how do you expect to convince a buyer to stop using a competitor's product or service if you are unfamiliar with it? Thankfully, researching companies is easier than ever in today's digital era. Performing a Google search for the competitor's name should reveal their company's official website as well as their LinkedIn Company Page. These two pieces of online real estate can provide a wealth of information about the competitor and its products or services.

    Identify Length of Professional Relationship

    Another strategy that can help you convince a buyer to stop using a competitor's product or service is to find out how long they've been working together. Generally speaking, the longer a buyer has been using a competitor's product or service, the less likely he or she is to switch to your B2B company. A buyer who's only been with a competitor for a few months may gladly switch, whereas a buyer who's been with a competitor for several years may not be willing to make the switch. With that said, you can often convince buyers to break their long-term relationship with a competitor, but it will probably require more work.

    One-Up the Competitor

    After researching the competitor, you should have a better understanding of their products and services as well as how they operate. Now it's time to on-up the competitor so that the buyer will have an incentive to make the switch. In the B2B industry, switching vendors or suppliers typically requires a substantial amount of work. Buyers may cancel their account with the original vendor or supplier, after which they must set up another account with the new vendor or supplier. Most buyers aren't willing to go through all this effort for nothing. Rather, you must explain to the buyer how your B2B company's product or service is a better choice than the competitor he or she is currently using.

    Send Useful Content to the Buyer

    A common mistake sales reps make when communicating with buyers or sales leads is focusing strictly on sales. They spend all their time pitching their B2B company's product or service, explaining how it can benefit the buyer and why it's a better choice than their competitor's product or service. You can still use a sales pitch when communicating with a buyer, but you should consider sending him or her useful content as well.

    In other words, don't restrict your communications to direct sales pitches. Instead, send the buyer useful content that doesn't directly sell your B2B company's products or services. White papers, infographics and how-to guides are all considered valuable types of content because they help buyers. Content such as this helps buyers, so they'll feel more confident making the switch to your B2B company.

    Build a Stronger Relationship

    The relationship you have with a buyer will influence the likelihood of him or her switching to your B2B company. In nearly all sales-related activities, trust is a deciding factor of whether a prospect will make a purchase -- and B2B sales are no exception. If a buyer doesn't trust you, he or she won't purchase your B2B company's products or services, will the buyer will switch from a competitor. Building a stronger relationship with the buyer, however, will naturally result in a higher level of trust. As you build a stronger relationship with the buyer, he or she will trust you a little more. Over time, the buyer's deep trust in you and your B2B company may compel him to her to make the switch from a competitor.

    How can you find companies that would use a product like yours or your competitors? With SalesLeads' Custom Lead Generation. This service allows you to identify prospects with your company's persona, meaning, what is the profile of the prospect. This can include your competitor's company names. Now when you call, you'll be prepared to talk about your product and why they should switch.

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