Monday, October 26, 2015

Gaining a Competitive Advantage

As we approach 2016, many fluid power companies are putting together their marketing plans for success in the new year.  One of the key factors in any plan is communicating your company's competitive advantages.

A few years ago, I attended a seminar given by author and sales expert Jaynie Smith who made it very clear that an advantage must be relevant in order for it to truly be a competitive advantage in any market.   So as fluid power companies communicate those advantages, it is necessary that a clear understating exists regarding the perceived needed of your customers.

When asked what their advantages are, most companies will give answers that are common to a list of about 10 characteristics that include things like price and service. However, as Smith points out, if these advantages are not relevant to the customers, then they really are not differentiators. Then pricing becomes the main characteristic.

I recommend that you take a look at both of Jaynie Smiths two books on the subject including her latest titled Relevant Selling. More details can be found on her website.