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Sales Process

Analyze Your Competitor's Sales Process

duration
25 min
Average Score
67%

Tim Cameron-Kitchen

Digital Marketing Author and Founder @ Exposure Ninja

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Your competitors are continuously striving for growth and improvement. However, you have an advantage - you're smarter, better-looking, and have excellent taste in videos and podcasts. So, how do you ensure you stay ahead? In this session, we'll explore a valuable exercise that has helped numerous clients at Exposure Ninja reverse engineer their competitors' sales tactics. Remember the saying, "Good artists steal, great artists reverse engineer." Let's dive into how to analyze your competitor's sales process effectively.

The Sales Journey

Imagine you run a house surveying business. Your sales journey involves potential clients searching for terms like "chartered surveyor" on Google. They open a few tabs from the search results, explore various websites, and eventually become leads, making inquiries or calls. This initial interaction is where the magic happens, and it all starts with a compelling call to action.

The Importance of the Call to Action

The call to action is the hook that entices visitors to take the next step in your sales process. Whether it's a free quote, assessment, or appraisal, it must offer perceived value to visitors. Moreover, it should be the initial step in your sales process, not just an incentive to contact you. For example, our call to action is a free website and digital marketing review, providing valuable insights and starting our sales process effectively.

Analyzing Your Competitor's Sales Process

To effectively analyze your competitor's sales process, break it down into five key areas:

1. Pre-Website Presentation

Before visitors land on your competitor's website, how do they present their call to action? When someone searches for a service like yours on Google, their first impression matters. You must craft compelling ad text or meta-descriptions that attract those with commercial intent, making them more likely to click on your site.

2. On-Website Presentation

Once on your competitor's website, how well is their call to action presented? Is it prominently displayed or buried? Ensure that it's easily accessible and enticing.

3. Follow-up Process

What happens after someone takes the initial step? Do they receive immediate notifications, such as email or text messages, acknowledging their action? Swift responses can make a significant difference in conversion rates.

4. Sales Meeting

The sales meeting is where the real magic happens. How well do your competitors choreograph this meeting? Is it well-scripted and rehearsed, or is it more ad hoc? A well-structured meeting can significantly influence the outcome.

5. Follow-up for Unqualified Leads

Not everyone who engages in the sales process becomes a customer. How do your competitors handle those who don't convert? Do they attempt to maintain a relationship through email sequences, ask for referrals, or request reviews? Utilizing these leads can add value to your business even if they didn't initially become customers.

Analyzing Competitor Sales Tactics

Secret shopping your competitors can provide invaluable insights into their sales tactics. Track the time it takes for them to respond, the method of response (email, text, call), the person who contacts you (salesperson, consultant), and the script they follow. This comprehensive analysis can reveal their strengths and weaknesses in the sales process.

Is the sales meeting well-choreographed, with a clear script and well-drilled salespeople, or is it disjointed and informal? This meeting plays a pivotal role in converting leads into customers.

Utilizing Unconverted Leads

Finally, how do your competitors utilize leads that didn't convert? Do they engage them with follow-up emails, requests for reviews, or referral programs? Maximizing the value of unconverted leads can be a game-changer for your business.

Analyzing your competitor's sales process is a powerful strategy for staying ahead in the competitive business world. By thoroughly examining these five key areas and understanding your competitor's strengths and weaknesses, you can refine your own sales process and gain a competitive edge.

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