How much does a lack of sales competition cost your business each year? Do customers know more about your products and how to use them than some of your own salespeople? Mishandled situations and missed opportunities are the result of unqualified and untrained salespeople and cost businesses millions each year.
The “P” Factor
For many companies, lack of sales competition is the #1 factor affecting profitability. This was the premise of a recent keynote address by Mark Landiak, president of Corporate Dynamics Inc. and author of “Beat Your Best!(TM) A Manager’s Guide to Coaching Performance”; and “Customer Service Isn’t A Department… It’s You!(TM)”. To prove his point, Landiak called the offices of two audience members posing as a “highly qualified” prospect. In both situations, the salespeople took the bait and started talking about price and product without asking about their prospect’s needs. A rep didn’t even get the name and number before hanging up the phone!
Headquartered in Naperville, IL, Corporate Dynamics Inc. is a professional training and consulting company that specializes in helping companies increase their sales and margins through sales training, sales management and customer service initiatives. Landiak, who served as president for 17 years, has earned a reputation as a leading training resource for sales and service teams in a variety of industries, including business-to-business, retail, and dealer/distributor organizations.
“Every sales organization looking to improve the competency of their sales representatives and front-line management can benefit from taking a more consultative, value-focused approach to dealing with their customers and prospects.”
Many times, companies do not define or measure “competition” and are not aware that they are losing thousands of dollars due to incompetence. Business owners and managers are often so busy trying to “meet their numbers” and keep up with the pace of business that accurately assessing, measuring and coaching the “competition” receives little or no attention.
Definition
CDI defines “Competition” as the ability of a vendor (or team) to profitably secure, grow and retain customers despite competitive pressures and obstacles.
A step toward improving sales competency begins with the ability to ask the right questions. Landiak explains, “The key is understanding how to translate responses into applications of how the customer will use a product or service to achieve their goals.” It is a personal process with the client, not a simple transaction. By the end of the interview (sales call), the customer should feel that the rep truly understands their issues and goals, and that the rep has the experience and company resources to help them achieve those goals.
The consultative selling process begins with understanding and evaluating the individual’s and/or organization’s goals, objectives, and critical issues.
Through this process, you will develop a solid foundation for developing training interventions and solutions.
Coming soon: WiBOC will address:
* Differentiate your company from the competition
* Sales coaching/management tips to drive sales proficiency
* Strategies and Tactics to Sell Value over Price
* Positioning your company to Win!