The old saying still rings true: if you are in a business without competitors, you’re in the wrong business. And, come to think of it, I don’t know anyone in the wrong business, for virtually every business I know of today has significant competition. From local vendors to start-ups to established companies from around the globe.
When too many vendors crowd into a market inevitably the feature differences between products narrows; as do the pricing differences. This creates real problems for sellers because, in the eyes of the customers, all these vendors competing in the same space lack differentiation and appear virtually to be the same.
Faced with choosing from a flock of similar sellers, buyers can become paralyzed. Intuitively, you might think that more choices make it easier for a customer to choose. In reality, too many choices inhibit decisions. (It’s natural. I get overwhelmed just trying to pick a cereal off the supermarket shelf – whole grain, sprouted grain, simple grain, no sugar, non-GMO, fiber, flax… You get it.) And then, once buyers make a decision, they often experience buyer’s remorse – they wonder if they had picked another option would they be better off. (Would the simple whole grain have tasted less like recycled cardboard than this sprouted stuff?)
Sell with Maximum Impact in the Least Time
Fortunately, you can help give your buyers a clear choice simply by providing a superior buying experience. What does a superior buying experience look like? What must you do to become the clear choice?
First, make sure to respond to buyers’ request for information in zero-time. By that I mean, give them the information they need to quickly and confidently take the next step in their buying process. Give them this valuable information as quickly as humanly possible. And, most certainly, before your competitor does.
Second, make sure the information (features, data, stats, stories, insights, context) you provide is easy to understand. The customer shouldn’t have to work hard to understand the value you are delivering to them. A goal for every sales touch should be to deliver your value while requiring the least amount of investment of a buyer’s time. That’s what’s called selling with Maximum Impact in the Least Time. If you sell with Maximum Impact in the Least Time, you have the opportunity to create a positive First Perception with the prospect. This gives you a significant first mover advantage in creating trust, credibility, and clear differentiation with your prospect.
Third, another reason the value you deliver must be easily understood is that you want your main advocate to be able to present it accurately to others within his or her company who are involved in the making the purchase decision. You are much more practiced than your advocates in presenting the value of your solution. Make it easy for them to sell your value internally.
Become the Easy Choice
Your prospects don’t possess an unlimited store of time in which to evaluate and purchase your product. Or, one just like it. You have to become the easy choice. Sell with Maximum Impact and then your buyers, more often than not, will come to depend on you, knowing that you’ll be the first to provide the information they need to maintain positive momentum in their buying process.
Bottom line, how you sell differentiates you and your company from the competition so buyers can confidently make a fast and favorable selection. You are the major determinant of that choice – so embrace this responsibility and make it work for you.