1. Develop deep empathy
2. Craft compelling value propositions
3. Gather competitive intelligence
4. Personalize your approach
5. Innovate and become a thought leader
6. Build trust through reliability
7. Use powerful storytelling
8. Address objections effectively
9.Master the art of follow-up
These strategies go beyond having a great product and focus on understanding customer needs, leveraging data, and creating irresistible value that resonates with prospects.
In such a highly competitive marketplace, mastering competitive sales isn't about having an awesome product. It is all about strategies that make you one of a kind. This guide will equip you with nine powerful approaches to excelling in competitive sales situations.
The sales arena could be ruthless, but with appropriate strategies, you can absolutely win your competitors' clients. Competitive sales success demands an understanding of human behavior, leveraging data, and crafting irresistible value propositions that truly resonate with the deepest needs and aspirations of your prospects.
After studying the art and science of sales for my entire life, I take the liberty to say that the game has changed. The days of aggressive pitches or feature dumping are gone. What works now is empathy, backed by strategic thinking and deep knowledge about the triggers that drive humans. So buckle up! These nine strategies will revolutionize your approach to competitive sales and have your rivals' clients knocking on your door.
Empathy is not just another buzzword, in competitive sales it's your superpower. Companies that zeroed in on emotional customer connections outmaneuvered the rest in sales growth by 85 percent. That's a game-changer.
To help you develop this skill, start with better questions:
These questions are valuable not solely for the insight they provide, but because they show you genuinely care about their challenges—a major key in any competitive sales situation.
In competitive sales, nobody cares about your product features. They care about how you can transform their business and their lives. Paint the picture.
I once worked for a software company struggling to survive in a very competitive market. We turned around their pitch from technical features to emotional benefits. Within six months, sales were up 150%.
Apply this strategy in your sales plans as follows:
The competitive landscape won't let you fly blind. Turn information into your advantage:
Some of my best competitive sales opportunities have come from LinkedIn group discussions.
In competitive sales, hyper-personalization can be central to closing the deal. I worked with a client chasing after a major healthcare account. We tailored everything for this particular client, from brand color to regionally relevant case studies. And you know what? They got the account and were lauded for really understanding the unique challenges of the client.
Master this approach:
Competitive sales is getting more difficult day by day, that’s why we need innovation and innovation is not merely an option; it is a mandate. Be the best in business at being a key provider.
Retaining customers in competitive sales boils down to trust. According to the Edelman Trust Barometer, 81% of consumers need to trust a company to buy its products. Here's how you can do that:
Humans are hardwired for stories. So, how do you bake compelling narratives into your competitive sales strategy?
A 'no' is a no-brainer in competitive sales. The best salespeople don't fear objections; they welcome them. This tactic provides valuable information on what is holding the client back.
In competitive sales, the money's in the follow-up. Research shows that 80% of sales come from the fifth to twelfth contact; however, most salespeople stop trying after two or three times.
Success in competitive selling does not rely on luck; it depends on how adept you are at preparing, showing empathy, and relentlessly pursuing value creation for others. Be more than a vendor; be a trusted advisor and partner to your clients in their success story.
These nine methods will not teach you how to sell but how to build true value, meaningful relationships, and drive transformational change in your client's business. You don't win clients; you gain an advocate, a partner, an ally in your common journey to success.
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