The prospect must believe that your solution, to the exclusion of competing solutions, will best satisfy the need.
As a general strategy for this category of objections, you would want to first neutralize the competitor's strengths to level the playing field and remove any differences between your company and your competitor’s. You do this to diminish the reasons your prospect has to continue to do business with the competitor.
Next, during your Research Questions you discovered needs the customer has and uncovered some potential holes (missing Advantages and Benefits provided by your USPs’ Features) in the current way they are trying to get the job done. You knew where to look for the holes because your Competitor Analysis identified your USPs and you used them to guide your exploration.
You then focused the prospect on these holes and using the FAB / TEA formula. You discovered that they did indeed have some unfilled needs costing them financially, subjectively, and emotionally.
Logically, if your Feature or capability is unique to your company, you know that the competitor doesn't have it. If the customer wants the Advantages and Benefits provided by your USP’s Feature to fill the now identified needs, then the only way to get them is to buy your unique Feature.
The more your unique capabilities are listed by the prospect as minimum requirements, then the less likely the competitor will be able to meet those requirements. Even though the prospect may want their current supplier to remain, if they can't meet the new specifications, then they are no longer qualified. This leaves the prospect with the choice to either change the specifications or rule their current supplier out.
Unless you’ve got a showstopper USP, the research indicates that it usually takes three to five fully quantified USPs, providing three to five times the bottom-line difference, to be strong enough to motivate the customer to switch suppliers.
To set your unique capability’s Feature as a minimum requirement, you would simply summarize the conversation with something to the effect, "So one of your requirements for a supplier would be their ability to provide you with USP FAB (state your unique selling point's Feature, explain it with the Advantage, state the Benefit in the terms the prospect used). Is that pretty much how you see it?” Or, “That makes sense, doesn’t it?” End with a Rhetorical Question close such as isn’t it, doesn’t it, shouldn’t it, and don’t you agree. Using these questions will confirm agreement.
Since the FABs are structured logically, you can use any sequence that works for you. Using our plastic container example you might say, “So to get rid of the budget for replacing rusting containers and to remove the risks of transferring product, one of the minimum requirements you have for the containers you purchase is that they are made of a material that won’t rust such as plastic. Is that pretty much how you see it?” Pause, then add, “And you’ll also have a rust stain free warehouse for customer visits, won’t you?”
The terms “specification, criteria, objective, requirement, condition, and standard” can be used interchangeably.
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