I was reading an article that I found to be very information when it comes to keeping your cool and beating out the competition. It boils down to this: you only have to be concerned about winning against 40% of the competition in your field.
For example:
Let us say you sell dental insurance to corporation for their employees and the corporation sends request for RFP’s to ten dental insurance providers. The ten dental insurance providers will receive the RFP, of the ten only eight will respond the customer’s request. The eight that respond only six will submit the RFP to the company on time. The six that will submit the RFP, only four will provide all the required information that the company has requested. The goal is to make sure you are one of the four that makes it to the company’s final evaluation. In the end if you are one of the four finalist, you really only have three other competitors to worry about and have a 25% change of winning the business.
Now what if you sell products, well the same rules apply.
Let us say that you sell home theater systems. There are 10 home theater companies in your local community. The first thing to know is what the customer is looking when purchasing home theater systems. The average customer may be looking for full product descriptions and examples of home theater systems on provider websites, a designer who will help them design the perfect home theater system, furniture and accessories, and financing. The customer begins checking websites before visiting stores. Only eight of the 10 websites will offer full product descriptions and examples of home theater systems. Six of the eight will offer financing. Four of the six will offer design services along with furniture and accessories. The goal is to be one of the four companies that offer all of the services that the customer is looking to obtain.
Once you are one of the four finalist, then you offer the best sales service possible to stand out against your three other competitors.
How do you offer the best pre-sales service possible?
When the prospect is looking, make sure that you can provide testimonials, references, guarantees and ways to keep in touch with the prospect without pestering the prospect.
Once the sale is complete, turn the customer into a lifelong customer by offering excellent customer services in a timely fashion. Respond to problems quickly, honor all warranties and guarantees, keep in touch, say you are sorry if you make a mistake, send a small gift or discount offer when a mistake is made or to show your appreciation.
The bottom line, once you make it to the final round in the competition, your excellent customer service skills will win the customer and future referrals.
Do you know what your customers are looking for?
Are you providing what your customers are looking for better than your competitors are?
Is your business ready to be in the final four?
