The reason why you have a job in sales is because our markets are constantly getting more competitive. Every year, every month, and every day products are coming out better, faster, and closer together. Almost as soon as your company dreams up a great new idea for product or feature, your competition seems to think of it too and get it to market.
If this weren't the case, it would be much cheaper for our corporations to just hire order takers or setup e-commerce websites to let people buy everything unassisted.
We often find ourselves in sales situations involving serious competition. To win the most business you are capable of in a competitive marketplace, you must know the right sales tactics to use at the right time.
So what do you do? Engage when you have clear superiority.
Sounds simple, but a lot of people ignore this one. When pursuing customers, you want to engage your competition only when you have the superior solution to win the battle with. Do this right, and you'll win most of your sales. And if everyone did this, there would be few or no fights.
However, not everyone does this.
And when they do, many do it poorly.
Most salespeople know something about their competition. The top few know their competitors as well or better than they know themselves. These top salespeople know the following important things about their competitors:
When you know these things as new prospects come up, you'll be in position to quickly decide "should I pursue this piece of business?" Pursuing the right business and avoiding the wrong business is one of the simplest ways to be highly successful in sales. This is not always easy to do though because we often have pressures from our peers and those we work for to pursue any and every lead with pulse. Do what you know is right, and watch your close ratio increase.
Oh, and how do you find these things out about your competiton? Spy on them. No, I don't mean break into their office in the middle of the night. Spying is easy with the internet and a telephone.
Simply use the web (and other publicly available info sources such as an annual report) to find out the names of some of your competition's customers. Then call these companies up posing as someone who is looking to buy the same product as they bought. Since voicemail is common these days, you may need to setup an unlisted number at home with a voicemail that you can configure yourself to make your identity appear real.
A few conversations held in this manner will yield 100 times the value of what you will ever learn from the trade press or your competitor's brochures. Use your newfound knowledge to decide whether and when to engage your competition.
Once you've decided to engage, you will want to maintain your upper hand. You do this by consciously deciding to weaken your enemy before the battle starts.
At the beginning of a sale, your customer may be looking at a number of different vendors. You can build your stature and diminish that of your top competitor by positioning them as yesterday's news.
The tactic works like this. You ask your prospect what vendors they are evaluating or looking to buy from. Most prospects will tell you who they are looking at. Once they have told you who they are looking at, choose one of the weaker competitors from their list and say "Oh, Mad-Dog Systems is a good company. I have heard some good things about them".
Your prospect will take note of this, and will want to pay some extra attention to the one that you "fear". The prospect will also note that you didn't mention who he expected to hear as your #1 competitor, and may be surprised by that.
Your prospect may even ask you about your top competitor: "So What do you know about Thunderbird Technologies?" Here's where you go in for the kill. You will want to reply by acting surprised and saying "Thunderbird Technologies? We hardly see them being evaluated by our customers anymore."
At this point, you may be further asked "Why?" you don't see them in your deals anymore. Here is where you have a couple of good weaknesses of theirs ready to cite as reasons why they are falling behind in your marketplace.
This technique enables you to reposition your top competitor as an also-ran without looking like you are slamming your competition.
Don't give your competition any more strength than they already have. Even if you are the number 2 or 3 vendor in your marketplace, act as if you are the number 1 vendor (or at least number one in your defined niche). And if you followed above rule and engaged only where you have superior strength, then you will be the number 1 vendor for the deals that you decide to go after.
© 1999-2004 Shamus Brown, All Rights Reserved.
Shamus Brown is a Professional Sales Coach and former high-tech sales pro who began his career selling for IBM. Shamus has written more than 50 articles on selling and is the creator of the popular Persuasive Selling Skills CD Audio Program. You can read more of Shamus Brown's sales tips at http://Sales-Tips.industrialEGO.com/ and you can learn more about his persuasive sales skills training at http://www.Persuasive-Sales-Skills.com/
Did you know that there are specific psychological triggers you... Read More
Using cartoons can help brand your marketing and drive home... Read More
Yes, it's true. Saying "No" is a great way of... Read More
Tired of sending out sales letters that generate anemic response?... Read More
1. Determine your current situation. How are you currently positioned... Read More
If you're looking for a successful salesperson to hire, a... Read More
You deal with rejections, frustrations, disappointment, and possibly disrespect on... Read More
As a salesperson, your ultimate goal, of course, is to... Read More
I'm constantly amazed how otherwise smart marketeers become deaf, dumb... Read More
Have you ever tried to explain to someone what you... Read More
When selling a product to a consumer, one of the... Read More
Almost all Internet Marketers have a basic idea of what... Read More
Do you want to sell more successfully using an honorable... Read More
Want to increase sales within your company? It's not as... Read More
Prospects have many reasons (you might think excuses) for not... Read More
1. You could end your ad copy with a discounted... Read More
Are you worried about whom you'll sell today so you... Read More
Imagine you've just thrown a rock into a pond. SPLASH!... Read More
It has been said that a customer makes a decision... Read More
This issue's topic on sales prospects comes in response to... Read More
Does your business run on a sales engine or a... Read More
A Revolutionary 'NEW' Dimension In Sales: Make many more closings... Read More
No matter what your age or stage in life, some... Read More
When I researched the field of using personality inventories to... Read More
If you want a truly successful business, you need to... Read More
Sooner or later, we all backslide into old ways of... Read More
Most people are always striving to better themselves. It's the... Read More
I was thinking about the statement:The Small Business Administration tells... Read More
Education plus Motivation is a powerful formula. But how do... Read More
Are you going to win this deal? With just less... Read More
Better than offline promotion such as press releases, talks, or... Read More
1. Multiply your marketing and advertising efforts on the Internet.... Read More
1. Combine a product and service together in a package... Read More
People are always looking for ways to close the sale.... Read More
Friends buy from friends. Why? Because people trust that their... Read More
When selling a product to a consumer, one of the... Read More
There is little doubt that eLearning has not achieved the... Read More
Perhaps the biggest challenge faced by salespeople is the problem... Read More
In his classic book, "Think and Grow Rich", Napoleon Hill... Read More
One of the questions I often get asked as a... Read More
It's a rainy afternoon on a typical mid week afternoon... Read More
Mark has an attitude! Mark had worked in an operational... Read More
I am writing this at the Philadelphia Airport on my... Read More
Are you tired of excuses? Looking for a persuasion technique... Read More
Seems almost every situation in our lives is centered on... Read More
A "Call To Action" is an invitation for your prospective... Read More
Many years ago, I was the one starting a small... Read More
This is a stupid question but it has to be... Read More
A myth can best be described as somebody or something... Read More
Statistics state that 55% of people judgments are made based... Read More
A few weeks ago I was onsite at a company... Read More
Want to increase sales within your company? It's not as... Read More
Most people don't realize how powerful a negotiating tool silence... Read More
To isolate any objection quickly you can use this effective... Read More
One of the quickest ways to loose a sale is... Read More
1. Be on time. In fact, arrive a few minutes... Read More
If you knew a few sure fire ideas that have... Read More
If a store had a great discount in the middle... Read More
Every day is critical when you are in the business... Read More
In the day-to-day operation of an online business we can... Read More
In sales, you can work one of two ways. You... Read More
An area many businesses fail to recognise as a way... Read More
I put together this little article because, although basic, we... Read More
Three year old Kara was throwing a tantrum. She didn't... Read More
Canned or scripted sales approaches are rarely successful, because one... Read More
1. Find a strategic business partner. Look for ones that... Read More
Sales Training |