How would you handle a high-profile client who is considering switching to our competitor?
Business development executives are often the first line of defense when a client is considering leaving for a competitor. This question allows hiring managers to gauge your interpersonal skills, persuasive abilities, and understanding of the company’s products or services. It also tests your problem-solving skills and ability to maintain composure in high-stress scenarios. They want to know if you can effectively retain clients and contribute positively to the company’s growth.
Example Answer :
* Understanding the client’s concerns is paramount. I would initiate a conversation to identify their pain points or dissatisfaction with our service.
* Next, it’s about demonstrating value. I’d highlight our unique selling propositions and how they align with the client’s needs.
* If necessary, I may consider offering incentives such as discounts or enhanced services without compromising business profitability.
* Lastly, maintaining open communication lines is crucial for addressing any future issues promptly. This approach ensures we can retain valuable clients while improving our offerings based on their feedback.
