The rules of selling in the 21st Century have changed. Back in the last century (wow that seems like it was ages ok), the adage buyer beware was the main catch cry. But gradually with the introduction of the internet, its popularity and the increase of online shopping, the dynamics shifted, from buyer beware to seller beware. In other words, the customer now has the power.
This is because the options & choices available to the customer have multiplied dramatically. I can be sitting in my home in Australia and buy something from a seller in the US or the UK. Customers have also access to a avalanche of information and we have seen the proliferation of comparative websites that again take the power away from the seller and give it to the buyer.
To survive in selling today, you must move away from the product/feature/benefit approach to one of emotion/reason/difference approach. It is imperative you understand what the biggest problem your product or service can solve and why this is better than any of your competitors. If you haven’t figured this out, then your buyer will always be in control. In so many cases, business owners and sales people make these tow fundamental sales mistakes.
Firstly, they have not identified who their MOST ideal customer is. In other words who are the customers that you really want to serve (it cant be everyone).
Secondly, they have NOT take the time, energy or effort to absolutely understand who and what their competitors are. They haven’t completed a Sales SWOT analysis, nor do they know why someone may purchase their product or service over theirs and vice a versa. In many cases, people tell me things like ‘we are great at customer service’ but haven’t figured out where they are great at, why they are great at, how is this different to the competitors. In other words they are drinking the corporate cordial which may be clearly be incorrect. Look, its great to have strong belief in what you do BUT you must understand that customers don’t share this belief because THEY HAVE HEARD IT ALL BEFORE!
It may surprise you that 70% of all purchasing decisions are made PRIOR to the purchaser actually directly engaging with the company, business or sales person. The power of the internet and its ability to provide instant information, access and comparisons shifts the power dynamics from seller to buyer. If you can’t be found, you can’t be considered- it is that simple. You need expert help in going from ‘invisible in your market’ to visible. The next challenge is to go from visible to attractive, then considered, then chosen.
Stay tuned or sign up for our next blogs that will help you learn more about this or reach out to me, the Virtual Sales Manager, so I can help you further.