Assessment of Alternatives
At this point the customer has decided to act and is evaluating the product or service against competing alternatives (which can include doing nothing). The salesperson or account manager needs to help the buyer(s) to identify and rank their decision criteria in order of importance. Then they need to identify how your offer is perceived vs. the alternatives, and finally to use a set of powerful strategies to position your offering in the best possible way against these criteria. This can be counterintuitive for salespeople, who often take a ‘head in the sand’ approach to the competition – but these strategies have a major impact on win rates.
The specific outcomes we help to create during the Assessment of Alternatives stage of the buying cycle include:
- Building trusted relationships by helping to clarify the criteria that specific customers (including purchasing departments) will use to assess your solution against those of competitors.
- Improving success rates in competitive situations (one client measured an improvement from 1 in 10 to 3 in 10) by analysing these criteria and developing strategies to deal with them using some very powerful tools.
- More specifically, delivering winning pitches by basing them on this analysis rather than a generic presentation around your strengths.
- Improving profitability and maximising margins by managing the discounting behaviour of staff and dealing better with procurement departments.