Leverage The Competitive Analysis to Reduce the “Flake Rate”

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Okay, let’s just put it out there, front and center: Nobody likes a flake.

A flake, for those not up to speed on the nomenclature, is someone who doesn’t show up when they’re needed the most. Personally and professionally, we run into flakes all the time and it’s equally frustrating. We could be talking about that buddy who didn’t help you move or the prospect that flaked out on a sales appointment.

As sales professionals, the latter happens more times than we care to admit. Perhaps the most nerve-racking aspect of encountering someone deemed to be unreliable is the emotional investment you put into that meeting (If I can sign them I can make my digital goal this month!), or that time invested in conducting all the necessary research and prep, all lost because of that “emergency” or scheduling conflict.

It is a hollow, empty feeling when you have to look your manager in the eyes (who already forecasted potential revenue), and utter those two words we all hate to say:

“They flaked.”

Let Competition Change The Game

In past blogs I’ve written about how the Competition report is like the gift that keeps on giving.

And in this case, we can leverage this BuzzBoard feature by positioning it as a must-have insight that a business owner or decision maker would absolutely be crazy not to look at, especially when we try these engagement approaches:

  • I’ve been looking at some of your competitors and it’d be great for you to see how they’re able to grow market share through digital marketing efforts.
  • Let me show you how businesses like yours are preparing the community for when they can open their doors and conduct business activities…
  • Let’s take a look at how businesses are able to generate revenue—even during a pandemic—by looking at how they remain relevant with the buying public through effective digital marketing strategies.

We’ve discussed how any of the above statements can add value to the appointments or deeper dive discussions we’re trying to schedule with prospects right now. But what we sometimes underestimate is how important and valuable this competitive information is to a business owner. When provided with this kind of impactful information, BuzzBoard reps position themselves as consultants with value. Decision makers often think twice about rescheduling that appointment—or flaking altogether.

Competition Works for the ‘Uncommitted’, too!

There are those prospects that say all the right things, they give you all the buying signals. They even verbally agree with your proposals. But they won’t sign. These are the prospects that just do not like to say “no.” The Competition report can take you over the goal line with these types of prospects, as well.

Finally…

While we are providing serious value to our prospects and reducing that “Flake Rate” in the process, we have to get that value back. This is why we must get into the practice of asking these prospects who they want to see information about:

Tomorrow at 9:30 sounds great! Before I hang up, who would you consider to be your Top 3 competitors?

BuzzBoard provides estimated scores for competitors added into the Competition report—so why not have the prospect add value to your life by letting them prospect for you? Remember: every time you ask a prospect who they’d like to see a comparison with, they are essentially telling you who they are looking over their shoulder at. And you can use this to your advantage during your discussions with them. Oftentimes, this is where prospects deliver key insights into these competitors—insights that you can use when you make that future appointment with them, too!


If you have any questions, need help customizing your BuzzBoard filters to fit your new strategies, or want insight on closing a deal, you can reach me at phillip@buzzboard.com.

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