I'm going to lay out 5 thoughts that I consider to be very strategic. I'll delve into each one so you can see what I'm talking about. Here they are:

1. Someone has to lose for you to win.
2. It’s what I do, that the incumbent doesn’t do… “That’s where my prospect is being underserved, but doesn’t know it.”
3. I cannot count on the Prospect to know where they hurt. There is a good chance, they’ve lowered their expectations down to the service level that they are receiving and feel content.
4. What the Prospect does not understand, they don’t appreciate.
5. If the Prospect cannot fire the incumbent, you don’t have a prospect.

Let’s start off with #1. Someone has to lose for you to win.

Michael Jordan was an unbelievable basketball player. He would study you on film. He’d find out where you were weak and he would exploit it. And, he did it with a smile on his face. But he was brutally competitive.

When I teach workshops I ask my students, “Who is the incumbent agent?” If the prospect has that person, why do they need you?

Historically, selling was all about building relationships and getting people to like you. Then it was getting the policies and finding coverage gaps, or marketing the business and trying to save money.

In the last decade things have evolved, where services have become much more important. Some agencies have built elaborate brochures, PDFs, and PowerPoint presentations to more effectively talk about their service and raise the expectation of the prospect.
And, it has worked.

Regardless of how you go about presenting your pricing or your coverages or your services, the fact remains. Someone has to lose for you to WIN.

So not only do you need to be good at building relationships, you also need a way to bust the incumbent relationship, and here is why!

Perhaps not in all cases, but in many, the incumbent truly has a relationship with their client (your prospect).
And, with that relationship, they get a “last look” at your proposal, your numbers, your service, your coverage. And if they can match it or get close, there is a good chance they will retain it. And if they do, you don't have a prospect.

So start with the attitude “Someone has to lose for me to win”, and build a strategy to exploit your competition's weakness. You’ll be in good company and make Michael proud.

Tell me if you've already used this strategy or if you've been stung by the incumbent getting last look. Comment below: I'd love to hear from you!