CommoditizationCommoditization Absence of any perceived value, making it so that price becomes the only determining factor. Whether there is real differentiation or not, if the prospect’s brain cannot or will not distinguish this differentiation, it doesn’t matter.

As long as you look, sound and act like your competition, you may as well be the same to your buyer.

It’s time for a new approach if you’re going to overcome it.

Prove your worth.

Before you even talk to your prospects, they’ve come to their own conclusions about you and your competition. They’ve viewed your website, read your reviews, and ranked you against your competitors.

To your prospects, it’s likely that you sound and look incredibly similar, and you’re now in a race to the bottomRace To The Bottom This happens in the procurement sale phase where there’s little to no vendor differentiation in the prospect’s brain. Price becomes the deciding factor, and vendors many times get pitted against each other to win via the lowest possible price. Organizations may hope that later this pricing position can be reclaimed (after the initial sale is made, in future sales), but this rarely happens. on price instead of leading with value. Prove your worth and become a partner on their buying journey.

Why it matters:

Your deal values decrease

Once you’re seen as a commodity, you’re in a race to the bottom on price- deteriorating your value on the way down.

You become easily replaceable

As soon as someone comes along with better terms, you’re once again fighting for a deal you already had.

You’re out of the game

Once you hit commodity status, you’re out of the game. You’re no longer adding value to your customers that they can’t get elsewhere.

Let’s Fight Commoditization Together

Why should they choose you?

1 Unlock Your Differentiation

Truly separate yourself from today’s competition.

Solve real problems for your clients with a unique approach.

2 Lead with Real Impact

It’s time for you to lead the conversation.

Lead with real impact and convince your prospects you’re on their team before you even begin to talk about price.

3 Stand Up Against New ThreatsThreats What the primitive brain will act on. Whether real or perceived, the brain prioritizes acting on threats above and beyond any other action. This hurts sellers who are unable to connect the real impact of their product/service to a prospect’s threats.

When a competitor approaches your client, your real value should stand in their way.

Forge strong relationships to prevent new entrants from taking your clients.

Compressed Selling TimeCompressed Selling Time Technology has enabled people to glean more education and insights without the assistance or guidance of salespeople. A 2020 Gartner study demonstrated that 83% of the prospect’s buying journey is completed before the salesperson is invited in. Less selling time prohibits effective investigation of need and trust building, putting all sellers at a disadvantage and making “selling” all about responding to requests, reacting, and order taking.

Commoditization

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Consensus Decision Making

Is your team prepared to fight The 3 Deadly Cs?

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