Selling In Hyper-competitive Environments

By Author: Mike Smith
Total Articles: 103
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In hyper-competitive business environments, when the differences between products and pricing are very minimal, often the only difference is the actual rep and the experience that rep creates with the buyer. With products the same, you are the difference. So how do you make yourself stand out from the crowd, articulate value and capture a greater market share?

Invest time in these three areas:

1. Focus on highly investigative questions – the more accurately you understand the client’s situation, the better you will provide the exact solution they are looking for the first time. Example – a. Help me understand how I can be most helpful to you? b. Describe your top business objectives this year? c. Tell me what you want from a service provider that you have not gotten in the past?

2. Prove that you heard them and don’t waste their time. In competitive environments, buyers have very little tolerance or patience for having their time wasted – don’t make the mistake of an off-the-shelf sales presentation; focus your time and energy on solving the needs and expand only if applicable. Relevance is ...
... the key to long-term success when the market gets tight. You bring value, you get to stay.

3. Be an expert and sharpen your sword. Increase your value perception by bringing targeted expertise to the table. Think on your client’s behalf. Be innovative. What can you do to help them meet their business objectives this year that they may not have thought of – a new idea, a new product, a new approach, a new application of your solutions. Sharpen your sword with exceptional sales skills – know your stuff and understand how to manage the sales conversation flawlessly. The rep with the strongest product knowledge, deepest understanding of the client situation, and most accurate execution of the sales process will win in a competitive situation.

In hyper competitive environments where products and pricing look alike, remember that often times the only difference is you – how you manage the call, how well you assess the situation, how well you apply your products and solutions to the customer’s needs, and what kind of impression you build along the way.

The Selling Skills Assessment Tool™ (SSAT) gives you an objective look at your people’s strengths, their skills and specific areas that need improvement. The SSAT is designed to quantify sales and judgment skills. With multiple sales positions and industry editions available, the SSAT is designed to mirror your specific situation.

Customer-Focused Selling™ (CFS) is an effective, sales training program that provides all the core competencies needed for effective consultative selling – with special emphasis on the particular areas shown by the SSAT to need improvement. In a highly interactive, adult learning format, CFS delivers the specific knowledge your team needs to consistently achieve better sales results.

PI Worldwide offers a unique combination of services that let you measure, manage and take control of your organization’s sales performance. Some other services are Leadership Development and Talent Management. Contact us for more information!