I was at a networking event the other day and a real-estate lady comes up to me, hands me her business card and says ‘I give high referral-commission’. And that was it, that was her differentiator! She was pretty much trying to bribe people to give her business. Common! She’s leading with the price to differentiate. The thing is, she not alone.
Salespeople everywhere are leading with ‘I give the biggest discounts, I have the lowest price, I will give you a good deal’. They do all of this because they don’t know how else to differentiate from the competition. But really, no one is going to buy something no matter how cheap it is if they don’t think it will work, it’ll still be a waste of their money. So how should you be differentiating from the competition? Start by, the markets and customers you serve. How effective your product or service is and the results. Look at the market as our customers have enjoyed. I know some of you will ask, but what if I’m just starting out? Then focus on the service you’ll provide. The extra value you’ll be bringing and focus on your personal strengths. Guys, there are so many ways to differentiate from the competition, just please don’t start with the price. In the words of Seth Godin, “The reason it seems that price is all your customers care about is that you haven’t given them anything else to care about.” I hope you’ll start giving them something else to care about.
In a world where buyers are inundated with choices, how can you stand out from other solution providers without using price to differentiate? It all comes down to positioning. While there’s no right or wrong answer, you need to pick at least one differentiator to stand out from your competition. In SOCO Academy, you’ll learn how to position yourself and determine how you’re different or better than the competition.
- Tom Abbott is the author of 'The SOHO Solution' and 'Social Selling' and the creator of the online sales training platform SOCO Academy. Sales leaders engage Tom for his proven solutions to building high performance sales teams that exceed targets and for motivational keynotes that energise their audiences.
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