Ellen, a software Account Executive, shared with me how worried she is about her competition.
“They reduced their pricing. It’s making it harder for me to compete. I wish I worked for the competitor.” She lamented.
In my group benefits days, vendor sales reps often jumped ship to be hired by the vendor that had the cheapest price that year. The only knew how to sell price.
Just like customers buying for price and leaving for price, I’ve seen the same behavior with sales reps.
That’s the lazy way to sell.
Stop Trying to Sell Against the Competition. Instead, Do This!
In a crowded marketplace, price becomes the evil step-sister. No one wants to sell just on price. It does appear easier to cozy up to the evil step-sister and make her a friend than the looming alternative of fighting against her for business.
When you embrace the evil step-sister, you know when next year rolls around it will be difficult to retain the customer because your relationship was built around price and not value.
Where Should You Focus?
As you fight the challenge of price, your focus is redirected away from problem-solving for the customer. It’s as if that’s all you can see….
The idiom “can’t see the forest from the trees” come to mind.Instead, of selling against the competition…BE A BETTER ALTERNATIVE!
A Better Alternative
Tip #1 Know the Competition Beyond Price
It’s important to know how the competition’s products and services compare but only so you can distinguish yourself AS a Better Alternative. Use the words “Better Alternative” in your pitch, by saying…
Here’s how we are a better alternative…
Tip #2 Look to Solve Problems
Expand your vision by digging deeper into the customer’s problems.
I’ve often discovered by digging deeper, more problems begin to surface. It can be a discovery dig for you and the customer. I bet you can recall instances where you went into the sale selling one thing, but actually sold something different or maybe more product and services than first anticipated.
It can often feel like being an archaeologist instead of a salesperson!
You’ve heard the saying ‘salespeople fill a need’.
Depending on the market niche, I really think it’s about being an excellent problem solver. If you’re good at solving your own problems, you’ll be excellent at helping your customers solve theirs. To learn more about problem-solving, be sure and read this recent article When Faced With a Problem, Why not Solve It! Learn How
When you’re working with more than one decision maker this can become even more challenging, because each will have a different set of problems, needing your expertise. In this situation, recruit other departments in your organization to help solve problems which is why building internal relationships are so critical.
Tip #3 Be a Partner
A partner is one who shares with another some action or endeavor. Share with your prospects business associates that align with the prospect’s business. In other words…bring them business!
When was the last time you offered a referral to a prospect? Think about your world of influence and see who you can introduce to your prospect as a business opportunity.
Always be looking for ways you can
- distinguish yourself
- provide solutions different from the competitor
- introduce opportunities to your prospects
- and be a partner
Brian Tracy recommends this….
One of the great activities you can do for yourself is to be your own management consultant…Stand apart from the situation and ask yourself, what would you do differently if you were giving yourself advice?
If you need help getting out of the price war with your competitors, just simply schedule a 30-minute complimentary call. Discover how we can work together to help solve your problems. Simply complete the form below and in the message area, tell me what you’re struggling with and ask to schedule a complimentary call. Why not do it now.