Winning the Deal in a Competitive Environment
Stay ahead in the game
It is important to have a holistic understanding of your business environment and competition. Having extensive knowledge, keen insight, contemplating options from multiple viewpoints and well developed people-focused values, allows you to make decisions based on their significant purpose of improving every aspect of your business relationships and proposals. Combining formal education, self-study and life experiences to learn creatively generates alternatives to find optimal solutions to complex problems.
Your value proposition
Position your strengths to your competition’s weaknesses. These are areas where you can outperform the opposition. Price alone should not be the decision maker. Your strengths such as; customer service, technical knowledge, stock availability, professional alignment in the relative industries etc. should be prominent in your presentations and marketing. Let your customers know why these points are important and why you are the better choice.
While keeping an eye on the competition, it is essential to remain focused on your own products and services. Trying to keep up will always keep you a step behind. Focus on creating unique solutions and opportunities to lead your market sector.
It is vitally important to believe in your product and service, this is your biggest motivation to excel and sell with confidence. How do you ethically sell a product that you do not believe in? Your customer will be able to smell the lack of confidence and belief you have in your product.
Be in contact with your customers and understand their exact needs. This will allow you to offer the value your customer expects and eliminates unnecessary bloat or features they do not require. Understanding your customers’ needs also eliminates failed design works and solutions that can ultimately ruin your business relationships due to costly redesign, alternative supply and endless hours wasted. This will create further trust and strengthen your relationship with your customers.
While all customers are equally important, do not be intimidated to embrace the larger customers in your industry. Larger customers are usually easier to train, service and maintain compared to smaller companies that might require closer and more consistent assistance and development. At the same time, the larger customers give your company credibility when meeting other potential prospects.
Be aware that your customers might deal with other departments or staff members in your organisation i.e. logistics, technical or admin. This makes it important for all staff members to be up-skilled and motivated on a regular basis, creating a collaborative working atmosphere. Customers are often more impressed by a professional well-balanced team that consistently provides continuity and excellent service.
Plan for growth
Keep up with developments in your sector, follow customers as well as economic trends and invest in your own development. It is important to have a clear idea of your purpose in the future. Most importantly, never lose your fundamental values. Being determined but mindful, taking ownership of situations good or bad, not optimising for the short term, acting with integrity and delivering on your promises. Your values represent your individual essence, they guide your behaviour and personal code of conduct. Have heart and enjoy a good work-life balance, you cannot get the full value from life without both Achievement and Enjoyment.