Inspire More Switches: How to Win Customers From Your B2B Competitors
At the core of your
business, you probably have an enticing value proposition. Perhaps you
outperform your competitors in certain services. And you have plenty of raving
clients that can vouch for your excellence.
So the question
arises... Why don't more of your competitors' clients switch to your business?
Well, there's
something you might not have considered: barriers that get in the way of
switching.
Prospects have to
mentally, physically and financially switched over. From a
tried-and-true solution... to you. And in many regards you're a mysterious and
unknown entity.
So, to entice
prospects to your business, you need to understand how they engage with
the idea of switching—what's really going on in your
prospective client's head. And life. After all, perceptions drive purchases.
We'll explore the four forces that influence brand-switching. If you want the prospect to say a grinning "Yes!" to you, you should amplify or reduce them accordingly.
Let's unpack those
forces.
Winning Competitors' Customers: Forces That
Work in Your Favor
1. Pushes away from your competitor
Some of your best
prospects are the clients who don't think your rival's solution is working as
well as it could be.
Opportunities for you:
- Find negative perceptions by
reading your competitors' online reviews. Note the most frequent
complaints.
- Home in on those
disappointments. Assert your superiority in
comparison. You can namedrop your rivals or use more generalized
implications. Regardless, your message should be, We won't let you
down like that.
- Back up your claims. Ask for
quotes from clients who switched from a competitor to you. Your real
switchers can convince the reluctant switchers. Such messages could
resonate with an unhappy prospect and make them more likely to consider
switching to you.
2. Pulls toward your solution
Chances are that your
business is something new to your competitors' customers.
You're unused. You're mysterious. Presumably, you offer certain
features/services they haven't experienced. That can attract their
curiosity—and even some good ol' FOMO.
Opportunities for you:
- Help them picture the happier
lives they can lead once they become your client. Use "future
pacing" in your messages—get them to imagine what's possible in their
lives in the future. That is, tie your value to powerful outcomes in their
work lives.
- Position your company as a cure
to their pain points. Help them think, This service could do a
better job of solving my nagging problems.
- Keep the transformations
realistic. If you appear too good to be true, you can
provoke skepticism, and even anxiety—in the form of your prospects'
believing that they're not good enough for you. B2B
marketing can be a psychological tightrope act!
Winning Competitors' Customers: Forces That
Work Against Your Favor
3. Anxieties around your solution
Even in B2B, many
prospects are ridden with social and emotional worries that can get in the way
of switching. After all, nobody wants to be the one who introduced a (pricey)
solution to that didn't work out and so now has to face the higher-ups.
Opportunities for you:
- Neutralize your prospects'
anxieties. But first discover what exactly those worries are.
- Research your current
customers. Find out about their decision-making journey. Send out customer
surveys and hold customer interviews. Ask: What other solutions did they
consider? What (specifically) drew them to you? What were their biggest
objections?
- The insights you glean from
your research can be immensely valuable. Identify the most common
objections and defuse them. That should be done throughout your marketing
endeavors aimed at prospects.
- Let's say a frequent anxiety is
hesitancy around the quality of your service. Use social proof to
demonstrate that you are indeed a top-quality service. Relevant quotes
from your clients can help substantiate that.
- Keep concerns about switching
at bay. You should particularly place social proof around calls to action.
- Want to make your solution
appear less intimidating? Show your value in smaller, yet engaging,
amounts. That could be a sample, a demo, or a "what to expect"
process overview.
- If their colleagues like what
they see, it may weaken the social aspect of your prospects'
anxieties. Hey, they can vouch for it, too! This has potential! That's
how you can remove some of the "friction" of switching.
4. Habits preventing them from making a switch
Prospects may be stuck
to certain beliefs, delusions, and routines, or suffer from inertia even when
they feel the "pushes" of the competitor's solution.
For example, certain
prospects may have developed close relationships with your competitor's team.
Some prospects might be mentally accustomed to beliefs that hinder
open-mindedness: Management is never open to investing time, effort,
and money into a new solution! Or they could be convinced that if they
keep waiting... the Perfect Solution will just turn up one day.
Opportunities for you:
- Overpower ingrained habits with
ambition. Show how you provide superior results for your clients vs. your
competitors. Focus on relevant measurements of success, such as improved
conversion rates and levels of customer satisfaction.
- Home in on the prospects'
biggest motivators (as shown in your research). Let's say that many
clients picked you due to your eco-friendly initiatives. Emphasize those
values using real data, case studies, and certifications.
- Don't speak only to surface-level
propellants, such as cost-savings. Deepen your persuasion by weaving in
emotion. Make this implication: Switch to us so you can finally
let go of the frustrations experienced with [competitor].
Don't overlook the
importance of relevance, emotion, and motivation. They can all give prospects
the incentive to switch.
Inspiring Your Prospects to Switch: Influence
Their Narrative
Sure, you want to lure
your competitors' clients. But you may feel stuck in the position of waiting.
Nevertheless, you can take action and increase your chances of
persuading those prospects.
So, research your
current customers. You'll gain insights that could be useful throughout your
marketing efforts.
Questions to ask:
- What are your clients'
motivators, and what are their pain points?
- What were their experiences
like with your rivals?
- What anxieties did they have
about your service?
Ultimately, your
prospects form narratives about you. And those narratives directly inform the
likelihood of switching.
But you're in a
position to assert some level of control over their
perceptions. Focus on the obstacles keeping them away from you, and neutralize
them.
Many prospects move
back and forth, regarding switching. They'll probably compare you to your
competitors. So don't be afraid to show your
superiority. Help open-minded prospects to recognize your
usefulness.
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If you need help with your email, web site, video, or other presentation to promote your company, product, or service, please give me a call at 440-519-1500 or email me at john@x2media.us
Until next month. . . .remember. "you don't get a 2nd chance to make a 1st impression." Always make it a good one!!
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