As technology continues to advance, new sales terms and definitions begin to emerge, impacting the way you do business. We’ll be covering three separate segments of three new, threatening sales terms, how they’re killing or slowing your deals, and what you can do about them. Check out our first sales term below:
Blame the Internet, blame your salespeople, or even blame the marketplace, but the real culprit here is your prospect’s brain doing everything it can to simplify their decision. You see, when all things appear equal it makes it very easy to just use price as the deciding factor. And unless you’re Walmart or Amazon, you’ve already lost! Walmart even has an app that assures you will always pay the lowest price; you scan your receipt and if there’s ever a lower price, you get the credit back!
As the line between life in business and life as a consumer continues to blur, and the ability to look up all competitors in your space instantly increases, commoditization becomes an even tougher challenge.
How do you beat commoditization? Is it even possible? To start, you have to quickly and persuasively demonstrate what’s different about you. The real challenge here is to clearly articulate how you stand out and then connect your unique value as a means of eliminating your prospect’s threats, pains and fears. Once the prospect is aware they have a problem, they’re going to want to solve it, and that’s where you come in.
Why do you have to go to this extreme? Because in most cases (6 out of 10 times) your going to lose to “no decision” or (re)Prioritization to be discussed in our next segment.