In today's market, it's no longer what you sell, but how you sell that determines your success. Value no longer resides in the technology rather in the manner in which it is sold.
For your organisation to stay on top of these market changes, everyone who sells your products must adapt their sales techniques and inform potential customers about more than just what is inherent in the product, but they must tell them about ways in which your organisation can provide value that others cant.
Organisations can often detect when customer buying trends vary, but they sometimes don't react effectively or quickly enough. Many companies fail to grasp the reasons behind the change, or the idea that these changes are not final, even in the short term and that they are dynamically changing at ever-increasing speeds.
Many organisations that are aware of these changes will undoubtedly fall into one or several common traps. One of these traps that lots of salespeople fall into is that when they get to speak with a prospect, they reel of as many features of the product as possible in the short amount of time you have them on the phone.
The face to face approach feels more personal but you may still find yourself cramming in as many of the products capabilities and features as you can as your time will still be limited. Sometimes customers buy products based on their superiority to competitors and previous products, but most of the time, customers buy based on price and ease of acquisition.
However, research has shown that these sales have almost no correlation with technological advancements or how products differentiate from each other, but are mostly based on price and how easily they can get hold of the product on the whole.
While many company directors believe that newer technology that's full of clever new functions can distinguish their company from competitors, it is a sad fact that consumers barely differentiate between suppliers of similar products, as far as they're concerned they all do more or less the same thing, and so price is a key factor.
The main point to keep in mind when selling technology nowadays is to try to do more than just tell potential customers about what the product inherently does. Point out how superior your product is to competitors as well as any perks such as a good price, or a promotional incentive to buy, either way you should try to make the customer comfortable in the knowledge that they could not have got better value for their money had they bought the technology somewhere else. Those who adapt their sales techniques in this way will find that they discover a virtually untapped, ready to buy resource as most technology companies are still selling information and clever little technological advancements rather than insight and true value.
For your organisation to stay on top of these market changes, everyone who sells your products must adapt their sales techniques and inform potential customers about more than just what is inherent in the product, but they must tell them about ways in which your organisation can provide value that others cant.
Organisations can often detect when customer buying trends vary, but they sometimes don't react effectively or quickly enough. Many companies fail to grasp the reasons behind the change, or the idea that these changes are not final, even in the short term and that they are dynamically changing at ever-increasing speeds.
Many organisations that are aware of these changes will undoubtedly fall into one or several common traps. One of these traps that lots of salespeople fall into is that when they get to speak with a prospect, they reel of as many features of the product as possible in the short amount of time you have them on the phone.
The face to face approach feels more personal but you may still find yourself cramming in as many of the products capabilities and features as you can as your time will still be limited. Sometimes customers buy products based on their superiority to competitors and previous products, but most of the time, customers buy based on price and ease of acquisition.
However, research has shown that these sales have almost no correlation with technological advancements or how products differentiate from each other, but are mostly based on price and how easily they can get hold of the product on the whole.
While many company directors believe that newer technology that's full of clever new functions can distinguish their company from competitors, it is a sad fact that consumers barely differentiate between suppliers of similar products, as far as they're concerned they all do more or less the same thing, and so price is a key factor.
The main point to keep in mind when selling technology nowadays is to try to do more than just tell potential customers about what the product inherently does. Point out how superior your product is to competitors as well as any perks such as a good price, or a promotional incentive to buy, either way you should try to make the customer comfortable in the knowledge that they could not have got better value for their money had they bought the technology somewhere else. Those who adapt their sales techniques in this way will find that they discover a virtually untapped, ready to buy resource as most technology companies are still selling information and clever little technological advancements rather than insight and true value.
About the Author:
Terry Forsey is a technology sales and marketing coach with years of experience in all economic conditions. Terry Forsey can offer extremely valuable, impartial sales advice to steer your business through hard times to the light at the end of the tunnel.
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