It’s no longer enough to tell prospects you offer better service or quality than your competitors. Prospects want to hear specifics about why you’re better. To do this you need to develop a clear competitive advantage.
Here are four tips that may help you show the differences more effectively:
- Show unique qualities. What can you offer that nobody else can? Try to convert the value of your products or services into financial results.
- Highlight advantages. What do you do better than your competitors? Give prospects whatever they need to understand the unique qualities of your product or service.
- Display 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.
- Don’t run from 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?
When prospects fail to respond
Research pinpoints these reasons why prospects fail to respond to your competitive analysis:
- The salesperson didn’t care enough about the prospect’s needs, preferences or problems.
- The salesperson was more concerned with style, while the prospect was looking for substance.
- The proposal was more of a solution for the salesperson’s problems than it was for the prospect’s problems.
- The salesperson didn’t listen to what the prospect really wanted or failed to find a way to satisfy those needs.
Source: Ted Barrows is the president of Barrows Associates, a sales and marketing company based in Bristol, RI.
