WEBVTT

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If and when they do enter into
the game, they're going to try to

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change the game in their favor,
so I want to get what separates me

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from them on the customer's top of
mind. You're listening to the Audible Ready

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Podcast, the show that helps you
and your teams sell more faster. We'll

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feature sales leaders sharing their best insights
on how to create a sales engine that

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helps you fuel repeatable revenue growth,
presented by the team at Force Management,

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a leader in B to B sales
effectiveness. Let's get started. Hello,

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and welcome to the Audible Ready Sales
Podcast. I'm Rachel Klep Miller. Today

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we are going to be talking about
the competition going against competitors. Enjoining me

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for the conversation is our own Patrick
McLoughlin, Patti Mack. How you doing

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today? I'm good, Rachel,
how are you good? I love your

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passion around this topic. Patti mac
you may not remember, but we have

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spoken about this several times over our
times working together, and you're always really

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passionate when you talk about this topic. So I'm excited for the listeners to

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hear from you today. Let's sort
of like just level set here on the

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topic we know there's going to be
competitors in our deals as a salesperson,

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and I'd love to hear from your
own experience how much do you anticipate the

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competition and how much do you prepare
for them. I prepare for them like

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they're going to show up ready to
do battle with me. Okay, it's

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funny you sent me the email.
If you think about this. And yesterday

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I was in the store with Evely, right, and everyone wants to buy

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these protein bars and I'm like,
okay, how much is that? And

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she looks at it and she's like, well, there's four bars and it's

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ten dollars. And next thing you
know, I'm on my phone and I'm

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an Amazon and I can get eight
bars for fifteen dollars. And I'm like,

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well and they'll deliver today, so
let's buy that one. And she's

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like, Daddy, you're always measuring
money. I'm like, yeah, I

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am. So you're asking, well, what does buying protein bars have to

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do with B to B sales?
Here's what it has to do. Economic

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buyers, people who spend money to
solve problems, measure the money they have

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a fight doutiary responsibility to measure their
company's money and how expend and the return

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on investment. Okay, so think
about it this way. The economic buyer

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is holding the champion accountable to delivering
the solution internally, and the economic buyers

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probably saying to the champion, hey
who or the O, the coach,

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or the technical buyer, Hey who
else did you evaluate? What other options

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are there? Because think about it, at the end of a sales cycle,

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the EB comes in to mitigate risks
and the questions they're asking, They're

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going to ask the technical buyer,
who else did you validate? So think

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about it. I've passed the do
nothing, do it yourself, your two

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biggest competitors. This is the third
party competition. But you got to expect

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they're going to be there. Yeah, I've heard you also say that expected

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that they're going to be there,
Like do you prepare for them even before

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you know there exists? Right,
and that's what you're talking about. Expect

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that they're going to be there.
So how do you do that? Like

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what does that entail? How are
you mapping that out? So I look

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at it this way. I learned
this lesson from Tim Cato, So cops

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to Timmy, think about it this
way, if the customer doesn't buyer's solution,

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what do they miss out on?
Right? So think about whatever to

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your company A, and you know
your solution has these benefits over say company

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B. Well, what the difference
is between your company and other company?

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That's got to be your sales strategy. So for friends who commanded the message

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out there, that's track setting questions. How do you get your differentiation into

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the customer's decision criteria. So I'm
thinking about them right away because if and

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when they do enter into the game, they're going to try to change the

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game in their favor. So I
want to get what separates me from them

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on the customer's top of mind,
top of their list. Yeah, great

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points. I've been having some conversations
with some small teams who have signed up

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for a sender platform and they are
at the beginning stages of trying to find

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patterns in their customers buying process.
You know, they're just a round kind

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of building that sales discipline in their
organization and a lot of them only have

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one REP, two reps, three
reps. And this is a type of

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preparation that they can do as an
organization, like as an organization when you

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look at your competition, ask those
questions that Tim told you that you just

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went through, because you want to
have a point of view not only on

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the value that your solution provides a
marketplace, but also a point of view

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on how it's different than the competition. Right, those essential questions we talk

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about, what problems do you solve, how do you solve the problems,

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how do you do differently in the
competition, and of course what's your proof?

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And that's good things you can do
before you're even in an opportunity is

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have a point of view of that. You said that so much better than

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I did. I think that's it. I mean, think about it.

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If it's like in his pure essence, if the customer does not choose you,

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what do they miss out? And
that's got to be your sales strategy,

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And that's how you solve the problem. That's your point of view,

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that's how you solve the problem.
That's how you solve it different than the

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competition and the value the customer will
get. And then you also need to,

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you know, back those claims up
with proof. So that was probably

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you took my answer and said it
one hundred percent better than I did.

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Well, let's shift now, Patty
mac too. You're in an opportunity,

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right, You're starting to have those
conversations. How do you get intel about

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what the competition is doing in the
account? You know what? All right,

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to make everybody laugh. So here's
what I used to do back in

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the day when we used to go
cold calling, right physically go into accounts.

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You would look in the registration book
on the in the in the signing

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seat. You would go flip through
the pages to see, well at salespeople

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from what companies show up. When
I saw this question, I started thinking.

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You know, I'd always say to
the client, hey, can I

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get the gass of water a cup
of coffee, and we'd go in the

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kitchen. I had to look for
competitive coffee monks right sitting in there.

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But you know, good question.
I mean what I would say, is

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this how to get intel about what
the competition is doing in the account?

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That comes down to one the level
of intimacy that you have with the client.

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I think intimacy is developed over a
period of time where you establish trust

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right when you provide the customer information, and then you start asking questions like

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who else is calling on them?
Are they talking to other people. Who

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do they use as a reference from
a third party perspective to understand best of

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bed practices in their industry. So
a lot of times customers say, hey,

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we subscribe to Gardner. Okay,
great, Well, you know in

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the Gardener Magic quadrant you're going to
have X number of vendors. Have you

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looked at any of those vendors?
Right? I think if you establish a

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level of intimacy with your clients,
which is basically the depth of your relationships,

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let them know that you're not there
just to sell them something, but

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to generate outcomes for them. You
can be very upfront and ask them,

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you know, who do they use
to gather information? Who do they use

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as subject matter experts? Because think
about it, for all the sellers out

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there, you're the professional in your
specific industry. Your customers are not professional

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buyers and they're not doing this every
day. So you need to ask them

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who are they relying on for guidance
from a third party perspective that a lot

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of times lends itself to them.
Are you uncovering who they may be talking

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to from a competitive perspective? I
love the point about you know, you

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just don't want to go in and
you want to be intimate with the customer.

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You want it should be natural progression
of you asking for information. But

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were there any specific discovery questions that
you used to use that would lead you

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down that path? Yeah, So
a lot of times I would ask the

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customer of the question, why did
you choose the solution that you currently have?

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So think about it. If it
was a new logo. For me,

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that was a question, Hey,
I see this that you invested in

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an XYZ platform? What was the
decision criteria? What led you to come

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to that conclusion. I'd also ask
questions, did you evaluate my solution?

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Where did you see a difference between
my solution and the competitive solution? So

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from a new logo perspective, to
me, it was really easy, right

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because I would be upfront, did
you evaluate us? What criteria did you

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use? And why did you make
the choice to invest? And then also

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wanted to know was the person I'm
talking to did they make that decision?

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Because a lot of times decision makers, you know this turnout. So if

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I was talking to you Rachel and
said, oh you bought this platform,

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great, why did you buy this
platform? What criteria did you use?

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Did you evaluate my company. Was
there a salesperson from my company engaged at

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the time, If so, what
reasons did you feel our platform fell short?

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If you did not, well,
why did you exclude us? I

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want to sort of know. That
gives me some mindset. So that's from

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a new logo perspective. From an
existing client perspective, I think you got

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to get the head of the process. I think you need to get ahead

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of the process, and you need
to ask the customer the question, how

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do they look at renewals? Right? They say the renewal process starts the

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day after the customer signs the initial
contract. Well, I think as a

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salesperson with an existing account, you
need to uncover what is the customer's decision

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process around renewals? Are they required
to get two or three bids? And

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then I would suggest to everyone you
need to treat the renewal as if it

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was the first sale. Don't skip
the process. Has that all the negative

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consequence has been addressed, Have the
business outcome has been achieved? What has

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changed in their business since the original
solution? And I also think you should

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ask the customer about the process and
if they tell you no, we're just

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going to do a renewal and relayship
with another po Oh great, but the

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customers say, hey, we need
to go back out to formal bid because

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of the size of the renewal.
Yeah. Great points. So really,

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what we're kind of skirting around here
is this idea of comparative differentiation, which

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if you've had commanded the message,
you know that concept. We always say

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deals are one and loss. On
the comparative differentiation, how you do it

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differently or better than the competition in
a way that satisfies the customer's requirements for

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success. And I don't want to
talk about the competition without talking about aligning

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your differentiation into the required capabilities solution
requirements. I will say for everyone listening,

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we have podcasts where we just talk
about that, and I'm going to

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link that in the show notes,
but I just wanted to get Patty Max's

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brief perspective here. Talk a little
bit about how you make sure that differentiation

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is embedded into those required capabilities,
so put a metric around them. I

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think every time you put a required
capability in a opportunity, or you in

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into the decision criteria, or the
customer tells you what the required capability or

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decision criteria is you need to educate
the customer or come to an agreement on

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what the metric the customer is going
to use to measure that required capability.

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For example, no competitor is going
to walk in and say to the client,

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we're not committed to your success.
We don't have the level of it

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which easy, we won't enable this
solution fast, we're not very productive,

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and once you sign the contract,
you'll never hear from us again. Right.

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So they're going to walk in and
they're going to promise the productivity.

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They're going to promise their liability,
they're going to promise the ease of use,

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they're going to promise the commitment the
customer satisfaction. Right, that's great.

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What are the decision criteria? What
inside the platform are you going to

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need and how are you going to
measure it? So for every decision criteria

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that's in there, especially comparative decision
criteria, like I have a blue button,

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well, great, I have a
blue button too, Well, the

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metric could be like how blue is
it? Ocean blue, sky blue?

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Right? I think every decision criteria
or slash required capability needs to have a

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metric and that's how the customer is
going to be able to say, yes,

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Vendor A does it better than Vendor
B. It's not through the name

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of the differentiator. It's the metric
assigned the differentiator. So I think that's

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the question you're asking me, is
like, it's getting our differentiators into the

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decision criteria, but though and also
assigning a metric to them, because think

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about it, comparative differentiation. We
do it, the competition does it,

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but the way we do it is
slightly better or different that has value for

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the customer, and that's usually measured
through a metric. Right, it's going

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to impact you in this specific way. If I was also to sum up

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what you're saying, Patti mac and
I've heard Anne Gary talk about this too,

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it's the specificity and how you're measuring
it that really provides the value for

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the buyer. Correct. So when
we're looking at those solution requirements required capabilities,

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as a salesperson, as somebody quarterback
in the deal, what do you

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do if you see something on that
list or you've heard something from the customer

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that you know your competition is better
at than you. What's your tactics?

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How do you handle that what do
you do? Oh? Okay, So

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the way to handle it from a
tactics perspective is this, I'm going to

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understand what the outcome is that the
customer is trying to achieve, that is

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making them say they need to have
that required capability. Okay, So I

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need to know what the outcome is
the customer wants to achieve. And then,

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if you're a commanded the message graduate, you're going to use trap setting

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questions to covertly influence the decision criteria
to lessen or to lower the rank of

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that required capability down lower right and
get your strengths up on top. And

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then so you do that through trap
setting a covertly you do that through trap

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setting. What you can also do
is overtly influenced the decision criteria by talking

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about proof points or references where you've
generated a business outcome, and then you

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can overt the influenced decision right here. So what I'm trying to do is

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get the customer to tell me is
this a got to have or a nice

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to have? And then I'm trying
to reorder the decision criteria in my favor.

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If I can't do that, I'm
gonna be honest with the customer.

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Yeah, and we'll tell them I
can't do that, and I'm going to

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thank them from the opportunity. I'm
going to walk away. And to me,

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the only way to actually do that
is to have a healthy pipeline right

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to walk away. But to me, when I did that, it brought

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the client back to the table.
Okay. So I looked at the client

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and said, hey, based upon
this decision criteria, there are a number

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of vendors that can do this,
and a lot of them are going to

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be significantly cheaper than what I would
charge you. And then the client says,

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well, what do you need to
have in the decision right here?

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And then I would tell them why
my solution was better or different and if

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that worked. And sometimes that did
work a lot of times. When I

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told the clients that I was going
to walk away because I wasn't able to

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compete based upon the evaluation criteria that
they had pre selected, they basically said,

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well, what do you need to
have in there that you'd be willing

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to compete. But it's remember this, folks. As much as the customer

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has a right to qualify you to
solve their business problem, you have a

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right to qualify the customer. Is
this opportunity worth your time? Please remember

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this, You would never play a
game you cannot win. There you go,

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You only have so many hours in
a day, so many it's time

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to actively sell and you want to
make sure you're spending that time with the

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customers that you're going to be successful
with. Right Yeah, absolutely, Okay,

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great conversation here in competition, Patty
mac, I love your perspective.

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Some good things for us to think
about as we go into these competitive opportunities

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or we send off competitors in our
current ones, particularly at the renewals.

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Give us a bottom line for the
listeners to take with them as they tackle

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their week. So think about it
this way. You're sitting in your office

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in whatever town or city or home
you're working out of, and think about

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who your competitors are and ask yourself, are they sitting in their office their

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home and are they looking at the
same patch that you have, the same

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opportunities that you have, and what
is their strategy? They're not walking away

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because you're in the account, right
or you're calling on the account. So

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what I would ask you to think
about is this or here's two things that

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I would ask you to take away. If you really think you have a

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deal one and you're not worried about
the competition, go write the obituary on

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the deal, meaning how did you
lose it? Okay, and then do

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everything you can not to let that
happen. And the second thing to think

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about is we sometimes know our biggest
issues as vendors, right, so if

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you had to compete against your self, how would you do it? And

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then that should enable your sales strategy
to minimize the competition's ability to impact your

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value proposition. I love it.
I love it. Get your game planned

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together. Thank you so much,
Fidi Mac, enjoy it, Tel Yes,

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Yes, and thank you to all
of you who continue to listen to

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00:17:21.000 --> 00:17:25.079
the Audible Ready Sales podcast. Make
it a great week. At Force Management,

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00:17:25.160 --> 00:17:30.119
we're focused on transforming sales organizations into
elite teams. Our proven methodologies deliver

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00:17:30.240 --> 00:17:36.880
programs that build company alignment and fuel
repeatable revenue growth. Give your teams the

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00:17:36.920 --> 00:17:41.480
ability to execute the growth strategy at
the point of sale. Our strength is

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00:17:41.519 --> 00:17:45.240
our experience. The proof is in
our results. Let's get started. Visit

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00:17:45.319 --> 00:17:51.160
us at forcemanagement dot com. You've
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To not miss an episode, subscribe
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Until next time.

