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? Poorly managed situations and missed opportunities are the result of unskilled and untrained salespeople and cost companies millions every year.
The “P” factor
For many companies, the lack of sales competition is the number one factor affecting profitability. This was the premise of a recent keynote address from Mark Landiak, president of Corporate Dynamics Inc. and author of “Beat Your Best! (TM) A Manager’s Guide to Coaching Performance”; and “Customer service is not 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 potential customer’s needs. A rep didn’t even get the name and number before hanging up the phone!
Based in Naperville, IL, Corporate Dynamics Inc. is a professional training and consulting firm that specializes in helping companies increase their sales and margins through sales training, sales management, and customer service initiatives. As president for 17 years, Landiak has built a reputation as a leading training resource for sales and service teams in a variety of industries, including business-to-business, retail, and dealer / dealer organizations.
“Any sales organization looking to improve the competency of its sales reps and front-line management can benefit from taking a more value-focused and consultative approach to dealing with its customers and prospects.”
Often times, companies do not define or measure “competition” and are unaware that they are losing thousands of dollars due to incompetence. Business owners and managers are often so busy trying to “hit their numbers” and keep up with the pace of business that accurately assessing, measuring, and training the “competition” receives little or no attention.
Definition
CDI defines “Competition” as the ability of a salesperson (or team) to profitably secure, grow and retain customers despite competitive pressures and obstacles.
A step toward improving sales proficiency begins with the ability to ask the right questions. Landiak explains: “The key is to understand how to translate the answers 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. At the end of the interview (sales call), the client should feel that the representative really understands his problems and goals and that the representative has the experience and resources of the company to help him achieve those goals.
The consultative selling process begins with understanding and evaluating individual and / or organizational goals, objectives, and critical issues.
Through this process, you will develop a solid foundation for creating training solutions and interventions.
WiBOC will soon address:
* Differentiate your company from the competition
* Sales coaching / management tips to drive sales competition
* Strategies and tactics to sell value over price
* Positioning your company to win!
