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The 'Seven Golden Rules
of Account Management'
For Dealers -
Rule 2
by Linda Bishop, Thought Transformation
(www.thoughttransformation.com)

Publishers Comment: I urge you to copy the 7 Rules for your future reference - and to share with others. When I found this article in Canvas Magazine, I knew it was something that would interest you. See Rules 1 to 7 starting May 2013.

Rule 2: Know Who You Compete Against

This is another frequently asked question when prospecting. At that point in time, you don't always get an answer, because your relationship with the buyer isn't strong enough to warrant an answer.

If they won't confide in you initially, you might ask later on. This is a mistake. To escape the vendor pool and earn position of preferred supplier, know against whom you're competing, and compare strengths and weaknesses. You must know if buyers are loyal to competitors or simply satisfied with them.

How long has the buyer had a relationship with the competitor? When a new competitor shows up on the scene, it's a red flag. If your customer is 100 percent satisfied, why did he allow your enemy to get a foot in the door? What can you do to shove your enemy back out?

When it comes to knowing your competition, take this tip from legendary military commander Sun Tzu. In "The Art of War," Tzu says, "If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself, but not the enemy, for every victory gained you will also suffer a defeat."

RedmondLinda Bishop is a sales expert, speaker and author. Her company, Thought Transformation (thoughttransformation.com) provides sales training solutions and helps motivated professionals get tools, training and tactics to maximize sellling success. She has proven solutions to help companies get more meetings with prospects and customers, get new opportunities, close deals, and grow accounts. To read Linda's blog, go to SalesisNotforSissies.com. To order Linda's book, "The Sales Pros Guide to Using Linkedin," go to TTBooks.biz.

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