SellingSecrets.com > Success Stories > Key Differentiators
created on 6/16/2007
The Challenge: Darrell wanted to use Power Messaging to penetrate a new client that was loyal to the competitor. He began by using a truck as a prop. He drove the truck over to the business and invited the owner to test drive it. The positive response from the test drive indicated that the client wanted to move forward. So, he ordered the requested chrome and bug lights. Everything looked good, until the buyer sent over the competitor’s spec sheet that showed a similar truck for $3,000 less. Since Darrell had gone to such lengths to accommodate this buyer, the $3,000 felt inconsequential. However, on the other hand, this deal could open the gate to a new untouched market opportunity (a long-term upside). With that in mind, he called the Corporate Visions’ coaching team to help build a strategy to deal with this situation.
The CVi coaching team helped Darrell to focus on key differentiators that would impact this buyer. Together, they identified the key differentiators as:
1. Personal and Financial Value.
What type of car do you drive? What would you choose for your son? What would your son choose for you, if he had to choose between safety and a lower cost of operation? With Volvo, safety is not an option; rather, it is an insurance policy that is already paid. You pay a little more up-front, but it pays you back in the future.
2. Business Value in Reframing.
We always buy from your competitor). Reframe strategy: Who started the family business? Did he do it because it was easy and everyone else did it? Did he lead or follow? What does it take to be a leader? Today’s leading truck drivers look at economy and safety.
3. Make the truck purchase personal to increase the transfer of ownership to the buyer and create a strong emotion about the value you’ve provided to them.
4. Accentuate the convenience of your dealerships close proximity.
The Result (emailed from Darrell):
When I returned to the buyer to continue negotiations I drove the truck fully dressed out with all the chrome and lights he felt it lacked. I used a lot of "You" phrasing and centered on a few key items that I knew the competitor could not compete on. First was Volvo safety. I let him know he was purchasing a vehicle designed with safety in mind from a company with a long history of leadership in safety, and pointed out what safety in "his" Volvo would mean to him, his family and his team.
I noted man-hours wasted in driving at least 45-minutes each way to the competitor’s dealership, so I asked how many hours he’s lost over the life span of his current truck just picking up and delivering his vehicle to the dealership. I continued on this topic until I was sure we really pushed his buttons. I went on to remind him that we were only 15-minutes away and on the way to his warehouse. I asked him how many times a week he, or his employees, passed our dealership.
And lastly, I let him know it was me; my knowledge, maintenance background in trucks, commitment to service, and a clear objective to serve his customer needs.
He called that Friday to tell me he would buy the truck on the terms I offered without having to lower my price. But it doesn't stop there. On Monday morning, with paperwork in hand, he called with some "concerns,” no doubt planted by a very persistent competing salesman. To counter this I brought the truck back out, left it there for a few days so they could hook it up to a loaded trailer and just try it out. Since it was already prepped and ready to deliver, this was relatively easy to do. When I called back on Friday, he let me know he would purchase the truck and cut the check on Monday.
He told me the number one reason he made the purchase was that he liked me - that I seemed very knowledgeable and informative. Second, was the location of our dealership. And third, was the truck itself. This was a hardly fought deal. I know it would have been much easier for him to stay with the competitor. Through persistence and differentiating ideas, I felt he was able to see that there was just enough extra value to swing his vote and our win.
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