Q. Occasionally one of my competitors lies to customers about what his product can do, how can I stop this?A. There is a simple answer to this: Have the competition put the lie in writing to the customer. Say, "Ms. Customer, that information is incorrect and all you have to do to verify that is to ask my competition to put that information in writing."
Here's an example of this from our experiences. When we were selling ATMs to banks, a competitor, we'll call them EFG Co., told one of our banks that they would install an EFG ATM and if the bank wasn't happy for any reason after one year, they would take out the EFG ATM and install a brand new ATM of ours. We knew they couldn't do this and told the bank President that and asked if he had the promise in writing. He said, "Well, no, but they said they would do it." We said, "Matt, first and foremost, they can't legally get a new ATM from us. If after a year you tell them to take it out and put a new one of ours in, and they know you'll never do business with them again, and you have nothing in writing, whose problem will it be?" He said, "Fine, I'll have them put it in writing." We were back 2 days later to get the order.
Rarely do people like to put anything in writing, especially untruths. Simply tell the customer that all she has to do to verify the information is to get it in writing.
In reality, the competition knew that if they got their machine installed, the chances were slim that they'd ever have to make good on removing their machine and putting in one of ours. And they were banking on this.
By the way, we've never seen it happen but, if the competition does put the lie in writing, stick to your guns, present your proof to the contrary, and have the prospect verify the information with a higher authority within the competition’s organization. Also, get your management involved.
