Thoughtful Thursdays - How can I be different from my competitors?

Differentiating yourself from the competition is often easier to say than do. Life is like that - doing is tougher than saying.

My own mantra is to do what my competition does not like to do. But what does that really mean and how do I find out what they do not like to do in the first place?

One place to start is with your existing customers. The fact they are buying from you indicates you have already established a competitive advantage. Your task is to determine exactly what that advantage is. In most cases the behaviour you demonstrate is transferable to your prospects. Your approach may need to be tweaked depending on the personalities involved, but the underlying behaviours will likely be consistent.

What has worked for me in the past is to be up front with the customer and ask them if they would be willing to evaluate your performance and how they measure it. This is part of gaining valuable knowledge on their individual needs. Based on their response you may be able to develop insights to how your competition measures up without actually asking the question directly.

Analyze the information you gather - ask yourself what it is telling you, read between the lines. Sometimes the answer lies in what is not said. The insights gained are the true value of the exercise and will help you understand how you stand out from the crowd.

You may be surprised that it is several little things that you do that add up to a big advantage. Whatever it happens to be, you are delighting your customer.

It may be that you return calls promptly, or send regular industry information that is engaging. Perhaps they do not hear from you frequently, but very regularly and when you do communicate it is always worthwhile.

Analyze the reasons for your successes and translate them to your new prospects. This will help you to differentiate yourself and stay ahead of the competition.

Good selling,
Richard

Thoughtful Thursdays - mmm love that morning coffee...

...and I have three suppliers to choose from. So why is it that I favour one over the other two?

Comparing the three options, lets look at the product offering first. Supplier number one has a good selection and features individual cup brewing. Supplier number also has a variety of coffees to choose from and supplier number three at this point has one choice. In the morning they are all busy, so the coffee is brewed often. In my case having a variety of blends to choose from is not a big advantage as I am not a fan of flavoured coffees. Freshness and flavour are important as I drink coffee straight up. There is no clear winner here.

What about price? They are all in the same range. The differences are not enough to cause me to make this the reason for choosing one over another.

Okay, is it convenience? They are easy to access. The favoured supplier is actually the furthest from my office.

Reviewing product, price and convenience the field is level.

If you said customer service, you would be correct. But what part of the service tips the scales? It is not the speed of being served or completing the transaction. Without fail it begins with a cheerful and sincere "Good morning" with a smile. Add to that the parting "Thank you" and finish with "Have a great day, see you tomorrow." If I happen to miss a day they ask where I was. They make me feel like they want to have and appreciate my business - every time I am there.

It is all about the experience of the transaction that makes me a regular at supplier number two.

Do all you can to make your customer's experience enjoyable and the added value will increase the likelihood of loyal repeat business.

Good selling,
Richard

Thoughtful Thursdays - Making your sales job easier

Whether a seasoned veteran or rookie in the sales profession, thoughts will eventually come around finding ways to improve your sales process. How can I make it easier for the customer say yes?

Going through your sales tool kit, you find all the promotional materials you need including business cards, brochures, samples and price lists. You also have up to date scripts that reinforce the features and benefits of your product/service offering. You have anticipated objections and have solid responses to address them. Record keeping is meticulous and you always follow up. It looks like everything is in place for a success and you are successful. You just want to be better and are looking for another sales tool that will help you accomplish that goal.

One that is probably there, but sometimes overlooked is competitive advantage. Some will take it for granted, not be clear about what it is, or know it and forget to tell your customer.

As you are already successful, you must have an advantage over your competition, but are you able to articulate it to your customers? If you know what it is, do not forget to let them know.

If you are not sure what it is, take a look at the features and benefits of your product/service offering. Benefits can be determined by taking each feature and asking yourself "So what?"

You can identify or create your competitive advantage in a similar fashion. Look at your list of  features and benefits. Compare yourself to the competition. Are they talking about them? Are there any that you may be taking for granted that your competition is not talking about? You do not need to unique if you are the first to be speaking out.

In a competitive market place successful businesses look regularly for every advantage and sometimes it can be right under your nose. In my experience competitive advantage is best determined in a group environment. Brainstorm and put everything out there including features, benefits, customer feedback, and what you do best. Although it may be based on what you do or have done, it is about how you demonstrate it better than your competition for your customer's benefit. Once you have come up with your advantage, don't assume it is correct. Test it with your existing customers first, you may find it needs revision.

Quoting Jack Welch: "If you don't have a competitive advantage, don't compete."

Good selling,
Richard