Did you ever have a customer say to you, “What makes you better than your competitor?” or “why should I buy from you?” It doesn’t happen often, but when it does it can be a real awkward moment for a salesperson. But really, what actually makes you different from your competitor? Be honest; apples to apples are you 75% identical to your competitor, but what is that other 25% and does it matter? Well, the short answer is yes, and applying robust Competitive Differentiation Strategies—which you can explore at Scorecard Sales—helps you define that gap. We know this to be true because you obviously have customers that your competitor does not. This is where you will want to talk about the importance of relationships but it’s not that simple. Although this does create loyalty, it isn’t a tangible benefit that you can boast to potential new customers, a common hurdle we address in our Integrative Sales Improvement Process.
So much for that idea because despite the value of relationships, it will only carry you so far once your customer feels that their actual needs are no longer being met. That is why refining your Sales Methods Mastery is essential to ensure you are offering concrete value beyond just “being a nice person” to work with.
Understanding your valued differentiators is a very difficult critical thinking exercise for anyone in the company from salespeople all the way to the owner. Seriously, what can you say about your company that matters to your customers that your competitors can’t also say? Try to list 10 things and see how far you get and how long it takes. Let’s make this even harder by making sure you can’t say anything about quality, service or trust unless it is truly unique to you and maybe only a handful of competitors. If you have a unique product/ service or serve a very niche market, this should be too hard. But iIt’s tough for the rest of us. However, there is an easier way to figure this out by asking these 3 questions, which we break down in our professional sales coaching, and following your answers with, “Is it unique and do customers value it?”
Why did your customers leave your competitor to do business with you? – Not all of your customers are new to your industry; many you have earned away from your competitors. Perhaps they were unhappy with who they worked with, but there was a reason why they chose you and it is because you offer something that your competitors did not. Not sure what that is? Start asking them and you will quickly find out what your unique valued differentiators are. This discovery process is a core module in our sales training courses.
Why do your current customers remain loyal to you? This is where you are going to say relationships and you’re not wrong, but if you stop there you are missing vital information. It’s always a relationship + _____________. What is that plus? Don’t know? Ask them and again you will find out your value differentiator. If they do say quality or service, what is it specifically about those aspects? You can track these specific insights using our sales process improvement web tools.
What will your customers gain by working with you? – There is always something that makes you different from your competitors. Were it not true you would soon cease to exist. Sometimes it is something as simple as location or access and you can’t underestimate the simple things. Again, if you are not sure, just ask your customers and they will tell you what they gained and you will discover yet another valued differentiator. If you need help structuring these conversations, request a quote for a strategy session on Competitive Differentiation Strategies.
