Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Differentiating From Competition Biggest Issue

DIFFERENTIATING THEMSELVES FROM THE COMPETITION IS THE BIGGEST ISSUE FACING SALES LEADERS IN NZ

A new Colmar Brunton survey shows the issues faced by sales leaders in NZ and what their top performers are doing to help them cut through in the competitive market.

Results of the research showed differentiating themselves from their competition was the biggest issues sales leaders faced (73%), followed by recruiting good salespeople (68%) and maintaining margins (60%).

The survey asked 173 sales leaders about their issues and sales performance.

Business training company David Forman engaged Colmar Brunton to undertake the research and Managing Director, Olivia Blaylock, says the results confirm what they had long believed – that New Zealand businesses must differentiate themselves from their competition to succeed.

“There’s lots of talk about the NZ economy being on the rise, with confidence at an all-time high right now. That doesn’t mean though that business is going to fall into your lap - you still need to be competitive and must be able to clearly articulate what makes you different to your competition. And you should be able to demonstrate your value, not differentiate by simply dropping your price.”

51% of people said price was the main reason they lost sales to their competitors. Blaylock says “that actually means that in 49% of the cases, price wasn’t the reason they lost the sale, yet in the current market, many are often quick to reduce their price in order to win the deal”.

Recruiting good salespeople was the second biggest issue leaders faced and Blaylock says that differentiating yourself can even apply when it comes to attracting the best talent. “In a world of commoditisation the only way for many companies to gain a competitive edge is through their people. Recruit good ones, reward them for performance and train them to continually add value to yours and your client’s business and you’re onto a winner”.

Survey respondents also shared what their top sales performers are doing well with understanding their customers (87%), selling the value of their solutions (83%), gaining commitment (82%), planning (80%) and building customer urgency (73%) being the key elements.

Blaylock says the survey underlines the fact that customer centric selling, which is the core of David Forman’s selling philosophy and model, is more important than ever. “With the increased commoditisation around today, the intensely competitive market we’re all working in and with too many quick to drop prices, there’s a big opportunity available for salespeople to understand why customers buy in the first place, and demonstrate the unique value their solution offers.”

As part of an overall review of their offerings, David Forman has released a series of new masterclasses to respond to the issues leaders are facing. Topics include “Differentiate or Die!’, ‘Growing share of wallet’, ‘Building referral networks’, ‘From Selling to Partnering’ and ‘Protect & Grow Margins’. All are short, practical programmes that can be delivered as public programmes or in-house for team training.

About David Forman Ltd

Established in 1973 by David Forman, who knew there had to be a better way of helping his team succeed. David Forman Ltd is New Zealand’s leading business training company, designing and delivering programmes in sales, leadership and personal effectiveness throughout Australasia.

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Balance Of Trade: NZ Posts Trade Deficit In October On Falling Dairy Exports

New Zealand’s posted its largest monthly trade deficit for October in six years, while narrowing the shortfall from September, led by a fall in dairy exports to China while all main imports into the country rose. More>>

ALSO:

Gigatown Winner: Plenty Of Positives For Dunedin

Although the city has taken the Gigatown title, along with new ultrafast 1Gbps broadband and funding for $700,000 worth of UFB-related initiatives across the community, Mr Cull says Dunedin has gained so much more through its involvement. More>>

ALSO:

R18: The Warehouse Group Praised For Removing Games

The decision by New Zealand’s largest retailer The Warehouse Group (TW Group), to withdraw stocks of the latest version of Grand Theft Auto V (GTA V) and other R18 games, has been praised by advocacy group Stop Demand Foundation. More>>

ALSO:

Air NZ Wine Awards: Victory For Villa Maria As Pinot Noir Thrills

It was a night to remember as Villa Maria Estate picked up one of the highest accolades of the evening, the O-I New Zealand Reserve Wine of the Show Trophy, at the 28th Air New Zealand Wine Awards. The Villa Maria Single Vineyard Southern Clays Marlborough ... More>>

ALSO:

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news