This article discusses Market Intelligence battlecards a powerful weapon to help you fight off your competitors. There are several articles espousing the value of regarding battle cards. They are A Market Intelligence tool, not THE Market Intelligence tool. Battlecards provide an excellent picture of how your competitors sell against you. This makes them a useful weapon in your armoury, and invaluable for business planning sessions and for your sales and marketing teams.
Battlecards are short and sweet cheat-sheets that help you understand your competitors. They chart your competitors’ products, pricing, marketing strategy, sales messages, strengths, weaknesses and value propositions. Battlecards enable you to turn all these factors against your competitors.
If you’ve done your homework, Battlecards are a great resource to have before an important sales meeting. They help you close more sales, arming you with product comparisons to support your case for your customers to buy from you and not someone else. Build a battle card for each competitor and serious prospect. Keep them up to date. Never be surprised by a competitor again.
Have them handy when you have a planning meeting. Use them when your sales team are going to visit a potential customer. Battlecards will blow your prospect’s objections, and your competitors benefits out of the water. Going in blind is never a good idea – no battle has ever been won without maps and accurate intelligence.
The primary targets of Battlecards are your competitors. However, as has been proven time and again, they can also be compelling when built to understand your potential customers.
Create a battle card for each competitor. Begin by listing their products and services and other necessary details. Think about your competitor. Put yourself in their shoes and imagine how they will act. For each product or strength, write a killer statement which will help you sink them. You now have a Battle card for each of your competitors.
Now, how about creating one for your prospective customers? This makes the tool even more powerful. For potential customer get an understanding of the marketplace you are selling in. Look at market size, market segmentation and market demand.
Four tips when creating a Battlecard…
· Answer these important questions: Who are the buyers within your target market? What problems do your customers and prospects experience? Which of your products or services will help them and why? How do you describe your products and services? Is it in your customers’ language?
· Understand your customers’ needs: Find out what your potential customer cares about when selecting a product or service you can provide. What deals can you do for them? Can you offer the added extras which can make or break a deal, such as customer support and warranties etc.
· Overcome objections: Arm your sales team with the information they need to bat away any concerns your customer or prospect may have about your products or services. Answer any problems they may have experienced in the past. Write success stories to show your customer how you have solved problems similar to their own.
· Have a defined path to a sale: Prepare questions to drive your customer into signing a deal. In answering your questions, your customers will self-identify their own needs and point them to the inevitable conclusion: to buy from you. Your questions should also be used as a trigger to match the best possible product to your customers’ needs.
If you are looking for a software solution, we would look no further than Klue. However, you will still have compile the information for the battlecard. This article discussed Market Intelligence battlecards a powerful weapon to help you fight off your competitors.