How do you sell when everyone is offering the similar product with almost similar features, prices and services?
Cost is no more a factor. Yes in the times of recession, we hear about costs all the time. People are being fired, companies scaling plans and those in commodity business really suffering from either lack of businesses or low margins.
The competition has increased tremendously. There are thousands of blogs talking about the same thing at a time. There are more than 80,000 apps in android market. In IT industry, every company is offering services at rock bottom prices to their customers. There are tens of malls selling the same goods in one locality. Fiverr has made the tech tasks a commodity. Pay 5$ and you can even get someone to pose as your girlfriend for some time ( I am not kidding , look it up).
How can a business compete, attract customers and make money in such a fiercely competitive times? How can one rise out of commodity business and make a name. There are a lot of businesses who are able to tide over the competition by following some good practices. Here are my observations and learning from them.
#1 Connect but not to sell
Treat people are real humans and not just as credit card holders. Listen to them. Whether offline or online at any part of the world people still love to talk and make friends. Use this to your advantage.
#2 Help or at least offer to help
I get a mail from a marketer almost every day about his product but I am not going to purchase from him. Why? Not because the product is bad but because the marketer has never engaged with me. He has never asked me in personal terms, how he can help me in my blog. It is hard to buy from a person or a company that never took a second to understand the specific problems with the customer
#3 Relate but be honest
Even millions of dollars deals do not happen just only on the basis of features. Often competing products are almost the same on feature/performance. These deals happen because a sales person connected better with the customer. He or she spent time in developing a genuine relationship.
#4 Negotiate on value, not on price
If you have provided value (such as suggestions/ offers to help) in all your previous interactions and unless client is in seriously lacking money to buy your stuff, they will not let you go. The price negotiations in these cases will only be a small part of the overall negotiations. That is the power of providing value to the client.
#5 Be truthful
Truth might sometimes look to be counterproductive to getting more business. In the long run, the client will always turn to you in case they need solid genuine advice. By being honest you develop credibility for yourself in the long run.
#6 Promise and then over deliver
Allow your client no room to fire you. Promise that you are going to add value to the project and then deliver more than that. Work towards their best interest. Think of best practices to apply and share them with clients. Do it often and have a client for lifetime.
The only way to sell your stuff in this crowded market is to build better relationship with your customer. If you don’t do it someone else will.