Why Do We Have Competition?

The Four Factors Creating Competition

I keep getting this question from sales people I work with in coaching and training sessions… Why do we have competition?

At first I thought it was a question looking for excuses regarding dealing with competition, however, as I got the question more often and from all levels of sales performers – I figured I needed to find the answer to this question. I found four primary reasons that competition exists, so here are the results of my research…

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Only Three Ways to Grow Sales

As complex as business to business selling has become due to the people, technology and agendas, there is one thing that has remained simple and concise. There are only three ways to grow your sales.

Now, understand I did not say easy, I said simple – which will require some effort on your part to master.

So what are the three ways to grow your sales? Here they are…

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Be the Low Risk Provider in B2B Sales

Being the low risk provider is the key to successful B2B sales. Please do not confuse low risk with low cost as these are light years apart. Too often the sales people I coach want to go to the dark side of sales – being the low cost provider.

Being the low cost provider is an unhealthy position for most sales people because the customer will find another sales person who will sell for a lower price than you offered. And, when selling strictly on price – low bid wins.

However, being the low RISK provider is an entirely different sales strategy. In fact, you could be the highest priced sales person and win – if the buyer sees you as the real low risk provider.

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Relationships Win More Often

Recently I have the opportunity to discuss sales strategies with sales stars from all over the globe. The interesting thing that kept jumping out during the discussions was the importance of building strong relationships with customers and prospects. And, the higher the level the person in the relationship the better the business opportunities.

Here’s the facts, more business comes to sales people who have developed strong relationships with decision makers or important decision influencers. Too often, a sales person makes numerous calls on lower level personnel, get beat up with requests and price cuts, only to lose the business to a higher priced competitor who has a relationship built with a decision maker.

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Your Sales Strategy During Bad Times – Take Action

I have recently been talking to CEO’s and Key Corporate Officers about the current economic conditions and how their results are during this time. After listening to all the different opinions one thing jumped out for me. The more successful companies and individuals were the ones that were taking focused and clear action. The ones who really in bad shape were taking the “Field of Dreams” approach – wishing and hoping that someone will come and buy what they offer!

Okay, so taking action should be a no-brainer for everyone in business. Well, it is not so according to the number of people that I meet and talk with on a daily basis. This is why I am writing about this subject today. Get out and touch someone – now!

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