Winning in a more competitive market

Are you finding that more and more of your customers are being barraged by your competitors and you are losing deals to irrational or even deceptive pricing? Don’t panic. This is a typical sales reaction to a tightening market, but the sales professionals that make the big money and survive through all business cycles use their brains and value to win deals, not price.

There are only two things you need to do to secure these deals or win them back from the competition.

  1. Put your prospect (soon to be customer) at the center of the sale, not you. Find out what they want and need. Make sure they get it even if it is not with you!–Need proof this works look at Progressive Insurance
  2. If your prospect tells you that you have lost the deal to a competitor follow up with them in 1-2 weeks to make sure they are happy. One of my customers converts 20% of these calls into sales because his competitors missed the customers expectations.
    • If you get the sale you had better follow-up in 1-2 weeks and then at least once a quarter thereafter to make sure your new customer is happy. Otherwise, you will lose them later

All markets go through tough times, but sales people that offer value and put the customer at the center of their perspective win in all markets.

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One response to “Winning in a more competitive market

  1. Great tips! Many companies tend to not follow up or check on their customers once they already closed the deal. So it really important that you touch base with your customers regularly. It is to know if they are still happy doing business with you or if not, you can at least do something to win them back before they decide to jump to your competitor’s side. Thank you for sharing this insightful article. Looking forward to read more.

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