Industry Benchmarks Competitors Tracked Battlecards Created

Published on October 18, 2023 by Sawyer Middeleer

Industry Benchmarks Competitors Tracked Battlecards Created

In a fast-paced and hyper-competitive business ecosystem, sales teams are always in need of strategic direction to close deals successfully. Among many sales tools, one incredibly effective and widely used tool is the battlecard. Battlecards hold critical information about your competitors, helping your sales team to anticipate and answer questions, resolve objections, and highlight your unique strengths. But how do you measure your battlecard strategy's effectiveness? Through industry benchmarks and tracking of competitors.

In this article, we will delve deeper into industry benchmarks, monitoring of competitors, and the creation of effective battlecards.

Understanding Industry Benchmarks

Industry benchmarks are measures of the best, average, or worst performance in an industry. They provide actionable insights to compare and track your company's performance and examine areas of potential improvement. Such standards can be leveraged to measure several parameters, from the average deal size and churn rates to win rates and customer acquisition costs.

Used well, industry benchmarks can aid in setting ambitious yet achievable goals, diagnosing performance issues, and formulating successful strategies. They can also reveal the best practices and pitfalls to avoid in your industries. Using the benchmarks as a baseline, you can better decide which competitor companies should be depicted in your battlecards.

Not Just Tracking, But Studying Competitors

Competitive tracking isn’t just about knowing who your competitors are and what they're currently offering. It's about understanding how changes in their strategy may affect your business. Conducting regular, strategic competitor evaluations will help you determine who your competitors are today and who they might be tomorrow.

For effective competitor tracking, focus on parameters such as:

  • Market Positioning: How do your competitors position themselves in the market? What is their unique value proposition?
  • Pricing: How do your competitors price their products or services, and what value are they offering at that price?
  • Product Features & Differentiators: What are the key features of your competitors' offerings, and how are they different from yours?
  • Customer Base: Who are your competitors' target customers, and what does their customer mix look like?
  • Marketing & Sales Strategy: How are your competitors marketing and selling their solutions? What are the platforms and channels they leverage the most?
  • Latest Developments: Keep an eye on your competitors’ latest updates, enhancements, and partnerships.

This constant monitoring and aggregation of data will provide valuable insights to wisely strategize your sales approach and generate comprehensive battlecards.

Creating Effective Battlecards

Now, the question is – how does one create an effective battlecard? When done right, battlecards can be the ultimate tool in your sales team’s arsenal. Here's how to create them:

  • Tailor to Your Salespeople: Every salesperson is different. Make your battlecards easily consumable for your sales reps. Avoid cramming in too much information. Instead, be concise and to the point.
  • Incorporate Key Insights: Inject your battlecards with up-to-date insights gathered from tracking your competitors and considering industry benchmarks. Battlecards should have the freshest possible information on competitors' strengths and weaknesses.
  • Create a Story: Don’t just list the facts about your competitors. Create a persuasive narrative explaining why those strengths and weaknesses matter to the customer.
  • Make It Actionable: An effective battlecard guides sales representatives on their moves during crucial client conversations. It should suggest potential lines of questioning to expose a competitor's weaknesses or bring up one's own strengths.
  • Continuously Update: Battlecards are not static documents. Keep updating them regularly with fresh insights from the industry and your competitors.

There’s no denying that handmade battlecards are time-consuming, especially with the need for constant updates. But AI platforms such as Aomni offer a solution. They can conduct real-time account research, give actionable competitive insights, and generate personalized sales content in no time, all without the need for human effort.

Conclusion

The battle of winning clients in today’s competitive landscape is not fought blindfolded. Your sales team needs the right intelligence to win sales objectives successfully. Leveraging industry benchmarks and tracking competitors aids in crafting powerful battlecards, equipping your sales team to respond deftly to client queries, and overcome objections.

If you're looking for an innovative solution to keep up with this fast-paced sales environment, Aomni can be your strategic partner. By providing detailed competitor insights and creating up-to-date battlecards, Aomni empowers your sales team to stay ahead of the curve, always.

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