I want you to think like your competitor. Why?
Thinking like your competitor will help you figure out where you’re weak and strong in the accounts you’re managing, which can lead to retention and growth activities.
An Exercise to Help You Think Like Your Competitor
Take a grouping of your best customers—those that have huge growth potential and those that you have to retain at all costs in order for you to grow your business. Then sit down ideally with another salesperson or your sales manager and put your competitor hats on. In particular, ask these questions:
– Where would you penetrate this account if you were trying to sell against yourself?
– Who would you go after?
– What relationships would you try to open up?
– What testimonials would you use?
– What marketing activities would you show them?
– What events would you attend?
– Where are you weak?
These questions will help you understand which people you need to meet, what events you need to go to, and what testimonials, case studies, or training resources you need to provide. The bigger the group of people you get together in the room to help you with this, the broader the picture you’re going to get.
This is a great exercise that I guarantee you will not only help improve your retention rates but will also allow you to grow your customers faster and for a longer period of time.