| What follows are the 3 most effective ways to | | | | the product does what you say it will do and |
| eliminate the competition: | | | | other wise meets customer expectations, then |
| 1. Relationship with the prospect/customer | | | | you've fulfilled this second value component. If it |
| The relationship with the salesperson is the | | | | doesn't, then you probably will not make another |
| number one reason people give for doing business | | | | sale and will drive your customer to the |
| with a particular company. The stronger | | | | competition for future purchases. |
| relationship you have with your customer / client, | | | | 3. Price |
| the less chance your competitor has of getting a | | | | Another way to eliminate the competition is to |
| foot in the door. Have a stronger relationship with | | | | prove to the prospect or customer that you can |
| the prospect/customer than the competition does | | | | beat the competition on either short-term or |
| and you will make the sale more often than not. | | | | long-term price. Notice we said short-term, or |
| 2. Value | | | | long-term. It's usually fairly easy to show a |
| Value involves two components: perceived value, | | | | short-term cost as this simply involves having a |
| and actual, or recognized value. Perceived value is | | | | lower up-front price tag. Showing a long-term |
| what causes the prospect to initially either buy or | | | | price advantage can be a little more tricky. A |
| not buy. Assuming the prospect recognizes the | | | | long-term price advantage requires that you show |
| value of your product or service and thus invests | | | | that your product or service will be less |
| in it, then you've effectively sold the perceived | | | | expensive to operate or that the |
| value. Once the product is purchased, actual or | | | | return-on-investment will be more over the |
| recognized value now comes into play. Assuming | | | | expected life of the product. |