businessbrief.com/salesmarketingupdate » Develop a competitive advantage: 4 ways

Develop a competitive advantage: 4 ways

July 25, 2012 by Ken Dooley
Posted in: In this week's e-newsletter - Sales & Marketing, Industry Spotlight - Sales & Marketing, Latest News & Views - Sales & Marketing, Sales meeting ideas

It’s no longer enough for your salespeople to tell prospects you offer better service or quality than your competitors. Prospects want to hear specifics about why you’re better.

Here are four tips that will help your salespeople show the differences more effectively:

  1. Show your unique qualities. What can you offer that nobody else can? Try to convert the value of your products or services into financial results.
  2. List your advantages. What do you do better than your competitor? Give prospects whatever they need to understand the unique qualities of your product or service.
  3. Reduce parity. Is there little or no difference between you and your competitor? Look for even minor differences that may add up to a competitive advantage.
  4. Overcome disadvantages. Are there areas in your product or service in which competitors have a definite edge? Do some of your advantages tend to offset these disadvantages?

Why prospects fail to respond

Research pinpoints four reasons why prospects fail to respond:

  1. The salesperson didn’t care enough about the prospect’s needs, preferences or problems.
  2. The salesperson was more concerned with style, while the prospect was looking for substance.
  3. The proposal was more of a solution for the salesperson’s problems than it was for the prospect’s problems.
  4. The salesperson didn’t listen to what the prospect really wanted or failed to find a way to satisfy those needs.

Source: Ted Barrows, President of Barrows Associates, a sales and marketing company based in Bristol, RI.

 

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