To track the name of the competitor you are loosing sales to, you can can set up a new field in Replace replace all instances with BriteBiz in Inquiries and Bookings called "Competitor". Once you change an inquiry or tentative booking to "Lost", you can select the competitor they chose from a dropdown you created.
We recommend that you set this up as a dropdown field, and add your competitors in separately. By using a dropdown field (rather than free text field), you will be able to do reporting in the inquiry and bookings list views and get a total count on what competitors you are loosing sales to.
For full training on Custom Fields - CLICK HERE.
An example of setting up a field for Competitors in Inquiries and Bookings in the video below.
Note - Custom Fields is a feature that is NOT active in all Replace replace all instances with BriteBiz subscription levels. If you want to move to a subscription level that includes Custom Fields, you should contact a member of the Replace replace all instances with BriteBiz Support Team.
What are Competitors?
Competitors are the other companies or service providers that you frequently come up against when you are trying to win new business. By recording these in the system, you can track which deals you lose to specific rivals and identify patterns in your win-loss ratio.
💡 Action Steps
Identify the main rivals in your market
Determine the key data points you want to track for each
How do I view the Competitors list?
To see the full list of competitors currently saved in your system, navigate to the main menu and select the Competitors tab. This view provides an overview of every organization you have flagged as a competitor, allowing you to manage them from a centralized location.
💡 Action Steps
Open the main navigation menu
Click on the Competitors tab
How do I create a new Competitor?
When you encounter a new rival in the field, you need to add them to your database. Click the New button or the plus icon in the top right corner. Enter the competitor's name, their website, and any specific strengths or weaknesses you have identified. Once you have filled in the details, click Save to add them to your list.
💡 Action Steps
Click the New button
Enter the Competitor Name
Input the Website URL
Add notes on Strengths and Weaknesses
Click Save
How do I link a Competitor to an Opportunity?
To track who you are fighting against for a specific piece of business, open the Opportunity record. Find the Competitors section on the page and click 'Add'. Select the relevant competitor from your pre-defined list and save it. This links that specific rival to the deal so you can report on it later.
💡 Action Steps
Open a specific Opportunity record
Locate the Competitors section
Click Add
Select the competitor from the dropdown
Save the record
How do I record a Loss to a Competitor?
If you unfortunately lose a deal, it is important to record who won the business. When you move the Opportunity stage to 'Closed Lost', the system will prompt you to select the winning competitor. Choose the correct company from the list and provide a reason for the loss, such as price or feature set, to help with future strategy.
💡 Action Steps
Change Opportunity stage to Closed Lost
Select the Winning Competitor from the list
Select a Loss Reason
Update the record
How do I analyze Competitor performance?
You can run reports to see your performance against specific rivals. Go to the Reports module and look for 'Win/Loss by Competitor'. This report will show you a breakdown of how many deals you have won versus how many you have lost when facing a particular company. This data is vital for refining your sales pitch.
💡 Action Steps
Navigate to the Reports module
Select Win/Loss by Competitor report
Filter by date range or territory
Analyze the visual charts