In this video, we discuss how to replace competitors when cold calling. It is very likely when you cold call a prospect, they will already be using or have purchased what you sell. If that is the case, you may get a sales objection with the prospect saying something like “we already use someone for that.” The process and tips that we explain in this video will not only provide you with a strategy for how to replace competitors when cold calling, but also prepare you for this sales objection.
Focus on Your Differentiation
The simple answer for what to do in these situations is to focus on your differentiation. This is how your product is different and better than the competitor. Although, it is not that simple to implement because cold calls can move very quickly and are very short. And you also can’t just jump to saying something like: “But we are different in that we….”
You have to be a little more skilled in how you weave your differentiation into this very short interaction and we show you how to do that in this video.
Creating Your Standard Cold Call Script
Before you work on how to replace competitors when cold calling, you can follow our structured process for how to create your cold call script. Our process guides you to outlining benefits, pain points, and pain questions. And while those are great things to discuss on a cold call, in some cases the benefits and pain points might not apply if the prospect is already using something.
For example, in the video we discuss selling software to doctors to replace paper medical records. If you cold call a doctor that is still using paper, you could have a great list of benefits and pain points to discuss. But if that doctor has purchased software already, those points might not be relevant and you need to shift to a different set of points.
Creating You Competitive Replacement Cold Call Script
To help with this shift when you are trying to replace competitors when cold calling, we recommend creating a second set of points or a second cold call script and bouncing between the two depending on whether the prospects are already using something today or not.
If you want to create this second script and parallel track, we recommend you go through the same sales script-building process that we discuss in many of our videos, but instead of starting the process with the product and features, start with your differentiation.
The standard process is to brainstorm benefits and pain points that are associated with what the product does and provides. But when you go through the same process and brainstorm off of the differentiation, you end up with a cold call script that focuses squarely on how you are different and how you can help the prospect by switching them from the competition to your product.