As a professional speaker and trainer I work with business to business organisations across various sectors, all of whom are facing a clear and present danger.
The ability to compete on price and product is becoming increasingly difficult. These are the common strategies applied to increase market share; namely:
1. Compete on price – have to market aggressively and automate relentlessly to compete on price alone. Cost of sale can be difficult to manage.
2. Innovative product or service – It is expensive to achieve and easy to copy. And while an innovative product or service used to be a game changer, it is now simply a ticket to the game.
3. Align yourself with your buyers. Structure your business, and your sales process according to your customers. When customers encounter a company that has made an effort to meet the clients needs and requirements for business, customers respond.
When your buying process frustrates us, we move.
Companies that understand the need to align with their buyers also know that alignment with clients requires a specialized sales approach.
Alignment with your buyers means that your sales people are the final frontier of differentiation. Failure to equip your sales professionals to seize this opportunity will result in lost opportunities.
More on that next week…