A product is a product is a product--or so customers believe. Power and punch in selling comes from differences not similarities. You will attract more attention and secure more sales by establishing a clear product differentiation for your product. These are the physical, functional and support characteristics about your product that make it unique or different than the alternatives. Demonstrating product differences in selling can not only win you more business, but will lead to sales at higher profit margins and increased earnings for you and your company.
The majority of customers will pay more if they get more--that is, more of a match to their needs. Unfortunately, most salespeople fail to clearly demonstrate true product value and drop prices. As a result, products are sold for a lower price than necessary, price wars erupt or sales are lost to products with a higher perceived value. According to a recent poll, Americans rank quality in the following order: reliability, durability, easy maintenance, ease of use, a known or trusted brand name and finally a low price. As buyers, we have all learned the truism 'you get what you pay for.' As sales people, we ought to remember 'you get what you sell for!'
The true value of a product is dynamic - it changes based on the buyer's interpretation of perceived benefits. People tend to weigh specific advantages of a product against incremental increases in price. If enough advantages stack up against shortcomings in the competition, you win the business!
Your product may offer faster service, better support or more bells & whistles, but unless each benefit is directly tied or linked to a customer need, you will gain little competitive advantage. In selling, sometimes less is more. Prepare a series of questions to ask during presentations that uncover the customer's needs, wants and expectations. This will help you focus the aspects of your product most suited to deliver the results the customer is looking for. Too many representatives recite every feature and benefit and insist on demonstrating every trick their product performs well beyond the customer's need or interest. The key to highly effective selling is to use questions and strong product knowledge to position your unique offering as customer solutions.
|
