Top Tip – What are your competitors doing?

Aug 28
[av_textblock size=” font_color=” color=”] Many of us are familiar with the SWOT analysis technique for our own companies, but here are two other ways you can use the SWOT tool to gain a sale.

A SWOT on your customer

What are the factors affecting them at the moment? Does your offer help them to overcome a weakness or threat they have? Perhaps you can help them maximise their strength or take the next steps towards an opportunity.
Understanding your customers’ mind-set is a key part of the sales preparation process and can give you a distinct advantage over other companies who are only pitching how great they are.

A SWOT on your competitors

Understanding the strengths, weaknesses, opportunities and threats of your competition gives you the power to position yourself carefully in the minds of the customer. Maybe you can showcase a strength you have that you know is a weakness in your key competitor.

Equally what strengths do they have that could sway your customers buying decision in their favour and how will you combat that in your sales process?
Preparation and research into both of these areas can really help you to be fully aware of the options on the table for your customer. Very rarely, if ever, will you be the only option they have available.

With a full understanding of your customers’ needs and your competitors offer you will be able to show your expertise as well as your solution.

Imagine being able to answer as many questions about your competitors’ product as you can your own, helping the customer to make an informed choice about their buying decision. The trust and confidence this builds up in your ability will far outweigh any snazzy benefit you can think up.

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