How do you keep your customers and prospects from being poached by competitors?

1 Know your value proposition

The first step to keeping your customers and prospects from being poached by competitors is to clearly communicate your value proposition. Your value proposition is the unique benefit that you offer to your clients that sets you apart from other sellers. It could be your product quality, your service level, your expertise, your reputation, or your personal rapport. Whatever it is, you need to articulate it clearly and consistently to your customers and prospects, and show them how it solves their problems, meets their needs, or exceeds their expectations.

2 Stay in touch

The second step to keeping your customers and prospects from being poached by competitors is to stay in touch with them regularly. You don't want to be out of sight, out of mind, or out of the loop. You want to be proactive, responsive, and attentive. You want to follow up on your proposals, check in on their satisfaction, offer support and guidance, and ask for feedback and referrals. You want to show them that you care about their success and that you're always there for them. By staying in touch, you can build trust, loyalty, and retention.

3 Add value

The third step to keeping your customers and prospects from being poached by competitors is to add value to your interactions. You don't want to be just another salesperson who pitches products and prices. You want to be a trusted advisor who provides solutions and insights. You want to educate your customers and prospects on the latest trends, best practices, and opportunities in their industry. You want to share relevant content, such as articles, blogs, podcasts, or webinars, that can help them improve their performance or solve their challenges. You want to introduce them to other contacts or resources that can benefit them. By adding value, you can demonstrate your expertise, credibility, and generosity.

4 Anticipate objections

The fourth step to keeping your customers and prospects from being poached by competitors is to anticipate objections and overcome them. You don't want to be caught off guard by a competitor's offer or a customer's concern. You want to be prepared, confident, and persuasive. You want to research your competitors and their strategies, and know how to counter them with your own strengths and advantages. You want to listen to your customers and prospects and understand their pain points, goals, and motivations. You want to address their objections with facts, testimonials, and guarantees. By anticipating objections, you can reduce resistance, increase confidence, and close more deals.

5 Ask for commitment

The fifth step to keeping your customers and prospects from being poached by competitors is to ask for commitment and secure it. You don't want to be vague, passive, or hesitant. You want to be clear, assertive, and confident. You want to create a sense of urgency and scarcity, and show them the value of taking action now. You want to propose a specific next step, such as signing a contract, placing an order, or scheduling a demo. You want to follow up with a written confirmation, a thank you note, or a welcome package. By asking for commitment, you can move your customers and prospects from interest to action, and from action to loyalty.

6 Reward loyalty

The sixth and final step to keeping your customers and prospects from being poached by competitors is to reward loyalty and encourage referrals. You don't want to take your customers and prospects for granted, or assume that they will stay with you forever. You want to show them appreciation, recognition, and gratitude. You want to surprise and delight them with unexpected gifts, discounts, or bonuses. You want to invite them to exclusive events, webinars, or communities. You want to ask them for testimonials, reviews, or case studies. You want to incentivize them to refer you to their network, and reward them for doing so. By rewarding loyalty, you can increase retention, satisfaction, and advocacy.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?