Many salespeople arrive at work each day and have no idea who or what their local competition is.
It is incredibly important to keep track of -
- who your opposition are
- what your opposition are doing
- what brands they stock
- and their current price points.
It is just as important to keep up with all their promotions and specials that they may run.
That way, when you get the inevitable customer who is going to compare your product to your opposition’s or online, you will be in a position to ensure the discussion is a consultative one (where customer receives consultation from the salesperson and buys based on their advice).
Rather than a transactional one where the main focus is your price.
It is also good practice to visit your local competitors often. This way you get to see in person what is going on in the market.
If you treat your opposition as your best friends, it’s amazing what they will tell you about their business and you will avoid being asked to leave.
The old Winston Churchill motto “Keep your friends close, but your enemies closer”comes into play.
Another good practice to get into is look for the one thing that the competition is doing better than you.
Then take that one good thing and implement it in your own business - or implement a variation.
If you pick up one good thing from five competitors, then that’s five things better you are doing that you were not before.
It might be something as simple as noticing that they have a clean car park, or they have easy to read price tickets.
When you know what your competitors are up to, you know their strengths and weaknesses and more importantly, you will be better equipped to match your products to a competitors when your will get a customer who is shopping around.
Sales Impact Manawatu