sales growth and selling in a crowded market

There aren’t many products or services that are truly unique, that you can only buy in one place or that are so significantly different for all of the competition that you’ll invest serious effort in getting your hands on it.

Most of us operate in a crowded market.  We know that our customers have choice (sometimes vast amounts of choice) and therefore one of our biggest marketing goals should be to be shortlisted by potentials ‘buyers’ so that we may be chosen as there preferred choice (and our business makes sales – yay!)

Be first, or be better. Being indifferent cannot be your mindset in business.

 

Sales training used to talk about FABs

If you’ve ever been on any sales training courses, you’ll have heard about FABs.

Feature – a feature of your product or service

Advantage – what this feature does or adds for it’s users

Benefit – what this really means for you

Let’s use the ‘sell me a pen’ example (I hope interviewers aren’t using this anymore)

“This is the pen for you Mr Customer, it has non-smudge ink (Feature) ensuring you don’t have ink stains on your page or hands (Advantages) which means that your writing looks better and you’re not constantly needing to wash ink off your hands (Benefits)”

This is no longer enough information for sellers to share with buyers.  There are a million pens out there.  I can search on Amazon and ask my friends on Facebook, and I can research it online for months and still not run out of content to read about. Buyers are exposed to huge amounts of noise.  Sellers must stand out if they are to survive in the market.

FAB becomes FABER

Evidence and Reassurance.

Evidence and Reassurance is what buyers are now seeking.  If you want to stand out in a crowded market, then you need to share evidence and reassurance, explaining why a buyer should choose your products or service over the rest.

What evidence can you share to help you make sales?

We mean facts, figures and statistics.  As an example, we ask our training delegates to rate the workshop, and as a result of collecting this data we are able to say that “98% of our training delegates would recommend us”.  What stats can you share to provide evidence that your product or service is worth the investment?

  • Could you quote the average return on investment from a service you offer?
  • Has your business broken any records?  Or been voted Number One in a poll?
  • Do you have product performance stats to share?

The evidence needs to align with your overall strategy.  For example, if you want to be known for high quality, then your evidence needs to demonstrate quality.  It wouldn’t make sense to have a high quality brand that claims to be “20% cheaper than the rest” as this would confuse your message.

What reassurance can you give to help you make sales?

Sharing testimonials, case studies, industry awards is a great way to reassure, but they need to be genuine and authentic.  Buyers want to know that past customers have bought, used and are happy.  Social-proof makes us all feel better about spending our hard-earned cash, we feel reassured that we aren’t about to make a mistake that we’ll later regret.

“Look at this, aren’t we great” just sounds like marketing noise, so find a way to articulate the reassurance from your past customers in a humble and genuine way.  Could you ask happy customers to do a short video on why they feel so thrilled with their purchase?  Are you making most of online reviews?  Do you actively encourage Google reviews or Trust Pilot ratings?  Your customers trust these sites and feel instantly reassured, so add them to your sales strategy.

More sales are just around the corner

If you are aiming to grow your sales results, and you know you need to do a better job of standing out because your market is crowded, then the first thing to do is to view the market from a customers’ perspective.  Look around, do a Google search the way a customer would, ask customers about their experience – see your business through their eyes.

After you’ve reflected on these observations, consider your marketing message and sales pitch.  Do you just state features?  Are you providing enough evidence and reassurance to help your customers make a decision to buy from your business?  If you adjusted a few important things, you may just find your sales results begin to grow.  Yippee!

We hope you found this blog helpful – let us know if you try any of our suggestions out, especially if they work well for you.

Thanks for reading.


Here’s a few sales workshops that you might like to attend;

How to build a sales strategy for a successful 2020

Consultative Selling for New Business

Social Media Training


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