Selling in a Highly Competitive Market
Struggling to Sell In a Competitive Market?
It’s not the competition. It’s your lack of sales skills.
“I need help with cold calling. I sell printing and marketing services. Since my market is highly competitive, my biggest rejections are “we get it through corporate” or “we already have a vendor / have established a relationship with.” Any advice?”
It’s extremely dangerous, and almost an absolute death knell for a salesperson when they start to believe the “excuses/objections” they are repeatedly being given.
- Believing that you are struggling/failing is because you are in a “highly competitive” field/industry
- Believing that when they say “we only get it through corporate” that there’s nothing you can do
- Believing that since they already have “a vendor with an established relationship” means they would never switch
If you genuinely believe that those issues are the primary source of the problems you face, you’re done.
Might as well pack it up now and let your boss know its time to put someone else in that seat.
I strongly urge you to REJECT those thoughts/statements as truths. They are not what is holding you back from succeeding. You CAN do this!
SELLING IN A COMPETITIVE INDUSTRY:
Because you are “selling in a competitive industry” is NOT why you aren’t making your sales numbers or getting through the door.
It’s your approach and sales system/process that’s causing the problems. It’s what you say, why you say it, how you say it, when you say it, who you say it to, and how you react to their responses that will determine if you hit or miss your numbers.
If you don’t like the results you are getting with your current “sales strategy,” get a new one!
SALES OBJECTION: “WE ONLY GO THROUGH CORPORATE”
If they genuinely only go through corporate, this means you are either calling on the wrong type of leads (meaning they are not your targeted audience – OR – ICP – Ideal Customer Profile) or that you need to learn how to get on corporate’s radar and close the big account (Although I still suspect that what you are “saying” before they give you their “corporate” response is most likely to blame)
SALES OBJECTION: “WE ALREADY HAVE A COMPANY THAT DOES THAT”
Regarding the “we already have a vendor for that” – Did you expect them to NOT already have some solution in place for what you offer? What problems/issues do you need them to have with their current vendor that your product/solution solves?
What’s missing is you knowing what your ideal targeted audience looks like. What issues do they need to have that you can help them solve that would give them cause to consider a new option?
Are you more expensive? Then why? Don’t run from that. Embrace it! What benefits do you bring to the table that would be worth paying more for your product/service?
Are you less expensive? What issues does your ideal client need to be going through that would require them to want to cut costs and still have a solid product delivered?
What are the advantages of going with you other than costs?
What is your turn around time? Is there a niche that you can take on last-minute projects and knock them out of the park where your competitors need more time?
Every business is only in business because they have specific areas that they excel in for a certain audience.
Some businesses have broad specialties (For example, Walmart, everything from food to tires to TVs), and others have narrow niches.
Find yours, create an opening value statement that is centered on what you solve and that will pique interest when you call a potential prospect, ask engagement sales questions that identify problems, and watch how more doors start to open for you.
– Michael Pedone
Founder of SalesBuzz.com. Online Sales Training Programs that Engage – Live Online Workshops for B2B Inside Sales Teams.