December 2013
Issue: 81

Who Are Your Real Competitors? 
    


If you follow my TTS coaching, you will recall that one of my mantras includes the acronym BMPCC. Remember that one of the C's stands for Competition. Understanding your competition is one of the more challenging aspects of sales. Why do I claim that this is necessary for your success?

Imagine that you are a B2B sales professional selling in technology solutions markets including healthcare, insurance, government, energy, hospitality or food and beverage. When you wake up each morning, who do you face as your top competitors? You may say Toshiba, IBM, Microsoft, or Cisco, for example.

 

But think again. Here is your main competitor:

 

 

 

It's true, that is, if you see yourself as an "information butler," whose main role is to provide information and pricing to a potential client. If so, you probably work 250 days a year while gathering your six-figure income plus benefits. Not bad, but your competitor is awake and available 24/7/365. Mr. "G" (Google) can provide free data from across the planet in fractions of a second!

 

My prediction is that the internet, social media sites, corporate websites and Mr. "G" will disintermediate the sales profession as we know it today. Within three to five years, it seems plausible that about 50% of all sales reps will be eliminated or redeployed in other roles. There are indications that this is already happening within the customer's buying process. Several studies have found that by the time a client begins interacting with a sales representative, she has already completed 60-70% of her buying process. Consider the world of travel agents, for example. With the advent of Travelocity, Orbitz, Mr. "G" and other online booking capabilities, the role as agent has been quickly and severely depleted.

 

Is sales attrition avoidable? I propose that yes, you can control your own destiny and prevent "special assignment" by becoming more than an information butler. Consider that other professions commit themselves to self-improvement on a regular and continuing basis. So must we as sales reps. As Zig Ziglar said: "People often say that motivation/sales training doesn't last. Well, neither does bathing - that's why we recommend it daily."

 

Beyond merely product training, we as sales superstars must:

  • Learn what makes your clients' businesses successful.
  • Help your clients avoid problems, solve problems and take advantage of opportunities.      
  • Become very comfortable with what makes a business tick: Profit, Assets, Cash, Customers (both clients and employees) and Growth.
  • In connection with the above, learn to examine and analyze financial statements with an eye toward uncovering weaknesses that can be alleviated by your solutions.
  • Know how to select and deploy the 12 major account strategies.
  • Challenge yourself to "3-D" (Develop, Document and Drive) your clients' buying process to eliminate or avoid headaches.
  • Update and hone your social selling skills.
  • Become a master at developing trust.

At the beginning of this newsletter I mentioned that you have two major competitors. The first is Mr. G, who will eliminate your job if you don't upgrade your skills. The second is "Mr. D."  In every account there is the possibility that Dudley Donothing or David Delay will appear. He is a dreaded and effective competitor who would be happy doing nothing at all. We may forget that in every deal your client may decide to either delay a purchase or do nothing at all. To confront Mr. D, you must know how to create urgency. You should:

  • Be sure to access and consult with those who have the ability to buy (CXO's).
  • Establish a solid, unbreakable link between your client's articulated corporate initiatives and the unique competitive advantages of your solution.
  • Create a strong, compelling and emotional business case for the project and your solution.
  • Help the decision makers feel the pain associated with doing nothing.

The sales superstar is always keenly aware of her top two competitors, Messrs. G and D.

  

Good Selling! 

    

 

 

 

 

 

 

Trust Triangle Selling Unveils The Sales Strategizer-Pro™, the First Deal-closing Application for the iPhone, iPad and iTouch.

Strat Pro With Hand

For info and details go to:
WWW.SALESSTRATEGIZER.COM






Dan's book won a Medal
from Sales Books Awards!

medal
For more information on Dan's book go
here
 Building Trust, Growing Sales
How to Master Complex, High End Sales Using The Principles of
Trust Triangle Selling™

Book Cover
 

 

Daniel Adams
Adams and Associates
263 Barefoot Beach Blvd. Suite #405
Bonita Springs, FL  34134
630-215-5090

Email: [email protected]

Web:  www.trusttriangleselling.com


Copyright � 2007-2013 Adams & Associates. All rights reserved. Reproduction in whole or in part in any form or medium without express written permission of Adams & Associates is prohibited and strictly enforced.




FOR INSPIRATION:
  
"People often say that motivation/sales training doesn't last. Well, neither does bathing - that's why we recommend it daily."

-Zig Ziglar

 

 

  

 

 

   

 

 

"The achievement of your goal is assured the moment you commit yourself."

 -Unknown

 

 

  

 

 

 

 

 

   

 

"Formal educational will earn you a living, self-education will earn you a fortune."
  -Jim Rohn
 







 

"It's not about you, your company, your products or your services. It's about meeting customer needs and adding value.  When you start paying more attention to your customer needs than your revenue needs, you'll find you no longer have a revenue problem to complain about."


-Mike Myatt
 
   

 

 

 

 

  

  

  

Enjoy Dan's Newsletter?  Invite A Friend To Subscribe!