subject: How To Ambush Your Competitor's Best Customer(S) In A Recession by:Tom Perrett [print this page] You know who your best customers are, and you probably know who the best customers of your competitors are. You look after your customers and they look after theirs. We have a stalemate. This may suit you, but if it doesn't how can you break the stalemate?
It is said that buyers are motivated by fear. Who would want to be the one who changed suppliers and it all went horribly wrong? They are happy to retain the continuity by using sticking with the same guys and use their long practiced skills of negotiation to get value for money. No easy way to see how the stalemate can be broken is there? Well perhaps there is.
Let us assume that you know the competitors best customers sufficiently well to get to speak to them in their office. They will want to know what you offer if only to reassure themselves that they are not missing out. This is the time to use their own weapon against them, namely, fear.
They are happy with their supplier but what if there was fear over the competitor's stability? I am not suggesting that you invent rumours but at a time when even banks are failing just how secure is any business? What you have to convey is that being single sourced is not a good plan. If you know they use multiple sources elsewhere within their business use this to emphasise your point. If not remind them of how another business, perhaps a supermarket, operates with multiple suppliers. Bringing in a second source is allaying that fear, it is a logical and safe option that offers stability to his supply chain (he can hardly argue the contrary). He no longer has to have that concern over being single sourced. He will have an established source supplying quality goods at the right price ready to step into the breach at the drop of a hat.
It is a compelling argument but it still needs skill in its execution. Start asking for small orders that allows them to get used to you; make it so logical it is too difficult for them to say no. You might get countered with arguments that the competitor will therefore raise his prices, but this is easily dismissed as who would seriously do this in a recession. You will also learn how your competitor deals with the customer which may allow you to learn more about how to combat their sales ploys with other customers.
Once the agreement has been made you need to make the most of the opportunity. You need to impress with your product, your service and your make the buyer feel that they were right to make this decision.
Once your foot is firmly secure in the door the breakthrough is complete and the fear will dissipate. Next year you can discuss why you should be the major supplier based on your excellent performance.
When the good times return the buyer will be too busy to talk to you but in a recession he has fear of supply and is more likely to be open to these arguments. The plan is not quick to implement and it may take many meetings before the door is opened but the rewards are high if you pick on a select band of potentially bigger customers.
About the author
Tom Perrett works as a pay-as-you-go Marketing Manager. He enjoys finding ways to stop clients squandering their budget on things that don`t work helps them find new ways to make their small business more profitable and live up to its potential.
