By: Jerry Scher
www.piag.org
Doing business
today is becoming increasingly challenging however, write a marketing
plan and you can have the edge on competition. Client demands and
expectations are getting tougher, and gaining a competitive advantage
is becoming more difficult. However, you can enhance your
competitiveness by executing an assortment of exciting "out of the
box" business strategies.
If you are fortunate
enough to have identified a unique market niche and are currently
providing products or services that are truly distinctive, if you
write a marketing plan you can gain that competitive edge while
maintaining or increasing your profit margins. By continuously
developing innovative products through sophisticated research and
development programs, you can gain a competitive edge by being first
every time and by staying ahead of product life cycles.
Unlimited financial
resources and/or the ability to produce your products at significantly
lower costs provide a competitive advantage in a "commodities"
marketplace.
However, if you
are like most businesses and have not mastered a market niche, you
have to gain a competitive advantage through extraordinary sales and
marketing strategies. You can focus your efforts on adding exceptional
value to your customers’ businesses while establishing long-term
business alliances or partnerships.
Partnering
We’ve all heard
and read about the benefits of building partnerships with our
customers. Yet, we should consider partnering positions very carefully
— speculating what they would really mean to our businesses.
Frequently, partnerships do not genuinely provide mutual benefit to
both parties. Whether you are the buyer or the seller, you must
carefully assess the suitability of prospective proposals,
particularly when it comes to business goals and strategic plans.
If you are
sincerely searching for ways to promote long-term business alliances
with your clients, while gaining a competitive advantage and customer
loyalty, you should focus on discovering techniques that will help
your clients’ grow their businesses. Salespeople must develop the
skills of a business consultant. Furthermore, they must understand the
need for long-term business relationships and be able to orchestrate
all of the services your company has to offer. This strategic approach
requires exceptional sales and marketing programs.
Optimize Business
Relationships
Salespeople must
optimize your company’s business relationships. They should be able to
demonstrate an ability and desire to help their customers increase
market share and revenue. This can all be clearly displayed if you
write a marketing plan. Savvy salespeople will assist customers in
achieving their strategic plans through the use of the products or
services that your company provides. Being able to identify the
critical needs of your customers and provide creative solutions that
enhance business growth in revenue and profitability will promote
win/win relationships.
Salespeople must
be willing to adapt to the changing business environment. They must be
more imaginative, innovative, and flexible in their approach to
customers. Effective communication has become critical in the sales
process as salespeople attempt to identify your customers’ wants and
needs.
If your company
has developed a strategic marketing plan, don’t assume that
experienced sales professionals have the capability to execute this
plan. If you believe that doing business requires different skills and
techniques, then you must train and coach your people properly to meet
the new challenges.
Utilize the strategic
audit outlined in this article as a starting point.
Examine the market
strategies suggested by first determining which techniques are best
suited to your company. Identify those techniques that can be
implemented almost immediately with little or no effort. Then, conduct
a brainstorming session with key employees involved in the sales
process to identify common customer needs, common products sold, and
company strengths.
This information will
enable you to customize other strategies to better fit your marketing
goals. There is no cookie-cutter approach to gaining a competitive
edge. You must know your customers and be able to maximize your
strengths to prove to them that your company should be their vendor of
choice.
Gaining a
competitive advantage through exceptional sales and marketing
strategies is possible. Before you write a marketing plan remember, careful planning, proper training, and
exceptional execution of the process are critical to your future
success.
Strategic Audit
Let’s review a
business strategy checklist and consider the range of strategies your
salespeople could incorporate into their marketing plans.
• Market your
company, not just your products.
• Develop a
unique identity.
• Work with
multiple decision-makers to increase buy-in on all levels.
• Become creative
problem-solvers.
• Educate your
clients about how your company’s products or services can help grow
their business.
• Establish
credibility as an expert.
• Execute
extraordinarily.
• Nurture
technological competence among salespeople, and make customers aware
of their value as a resource.
• Become a
strategic business advisor.
• Promote
innovative thinking and position your company as an industry leader.
• Reinvent your
business strategies by being proactive to customers’ needs.
• Add significant
value to your clients’ business.
