Taking the Sales Opportunities Your Competitors Give You
Are you trashing great opportunities just because they say they are going with the competitor? Sometimes these can be the easiest leads to convert. A frustrated customer or one who's expectations have been dashed are often looking for a quick, painless opportunity–that could be your next sale.
You spent the whole morning attacking the freshest leads in your sales pipeline, and what did you hear? Probably:
- "That sounds great, I am waiting on the other offers…"
- "The Mortgage Emporium has a better rate"
- "Bob's Mortgage Shack said I could close in 10 days"
Fresh leads are just entering the sales/buying cycle and are inherently the toughest ones to convert. These customers know the market is still competitive and the best customers know they should look for the best deal.
All of your competitors are telling them whatever it takes to get the deal into their commission trigger. These factors significantly impact the probability of converting a brand new lead, particularly if you do not have the brand of a Countrywide, Wells Fargo, or Quicken Loans.
So, how can you use this to your advantage? I am going to tell you a little secret…
The easiest customer to close is one that has been disappointed by your competitor. It is like "sticking it to the man," the customer gets satisfaction and you get a sale.
Here's the trick: The next time you hear, "I am going to go with Tina's Mortgage Funding" I want you to put them in your calendar once a week for the next 45 days. I want you to check in on them and ask how their mortgage process is going and if they have any questions, like it was your own customer.
You don't even have to ask for the sale. You will be amazed how many of these deals you will win. They will come to you because:
- If you are this attentive and responsive, what would it be like to be your customer
- The competitor will most probably frustrate the customer when they get into processing
- If you don't get them this time they will call you next time because of your commitment
So, don't ignore the customers you loose to the competitor they may be your highest converting lead.
Bill Rice is a leading authority on lead management and the lead generation industry.
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