YOUR 3 TOUGHEST COMPETITORS IN EVERY SALE

 

 

Customers have more choices than ever before in what they buy, how they buy and from whom they buy. Most salespeople worry about selling against their direct counterpart or a competing company.

 

That’s not always your biggest competition.

 

Let’s take a look at it from the customer’s perspective. In their eyes, the top choice for solving the challenge at hand may not be between you and a rival vendor.   In every sale, customers will consider at least one of these options:

 

1.   The customer decides to solve the challenge internally. This is also the “I can do it myself, cheaper” solution. After seeking bids and evaluating various vendors, the customer does a cost-benefit analysis on outsourcing and decides they can do it as well

– or well enough – internally, usually for less money.

 

2.   The customer decides not to buy at all. This “do nothing” option is ever present – and sometimes the toughest competition to overcome.  It can be based on  various factors, including:

 

a.   The customer may have perceived a real need for change but shifts in internal or external circumstances cause them to pause or cancel the entire initiative.

 

b.   The customer may have been “kicking tires” all along, which means they never really intended to buy an outside solution, but felt compelled to research possible products or services as a way of confirming their own concept.

 

3.   The customer defunds the initiative.  Basically, the challenge your solution addressed falls down, or off, the priority list.

 

What you can do

 

Factor these competitors into your strategy from the start. As you meet with customers and begin to discuss the issues they are trying to address, consider whether the customer could resolve the situation one of these ways.

 

You can ask your Coach on the opportunity if the customer is considering these options. If they are, you may consider changing the conversation with the customer by:

     Directly asking the customer about these options

     Highlighting specific strengths your solution offers vs. the above options

     Evaluating the cost/benefits of continuing to pursue this opportunity

     Looking for other types of opportunities to pursue

 

 

Frontline salespeople and sales managers who emphasize Getting closer to your customer find ways to address these frequently overlooked, and often unaddressed, options. This widens the playing field and gives a deeper understanding of the customer’s circumstances and improves the probability of success.