Reasons Behind Losing Sales To Competitors Training Ppt

Slide 1

This slide depicts the reasons why a company loses sales to its competitors. The reasons are: Lack sufficient product knowledge, not aware of prospects’ needs, lack of clarity and focus, undefined target market, ineffective sales pitch, failure to close deals and, and inefficient and irregular follow-up of leads.

Slide 2

This slide discusses the reason for sales failure which is "Lack Sufficient Product Knowledge." It emphasizes that you've already lost the sale if you can't fully explain how your products and services will benefit your prospects. It also mentions how a lack of product/service knowledge creates uncertainty and damages your already-tentative relationship with your prospects.

Slide 3

This slide discusses the reason for sales failure, which is "Not Aware of Prospects’ Needs" It emphasizes the importance of understanding your clients' needs and how your top competitors' sales strategies are positioned. With this information, you will be able to differentiate yourself with the Unique Selling Proposition (USP) you offer. It also states that tailoring your services or products to better meet the needs of your prospects allows you to diversify your services and demonstrates to your customers that you are adaptable.

Slide 4

This slide depicts the reasons why a company loses sales to its competitors. It emphasizes that a lack of clarity and focus early on is the single most common mistake that nearly every small business makes and why they lose sales to competitors. Every small business believes it must provide as many services and reach as many prospects as possible across as many platforms as possible. Nothing is farther from the truth than this.

Slide 5

This slide mentions an example explaining why you lose sales to you competitors. 

Instructor’s Notes: Perception tells us that the flooring company in Example B is unquestionably superior. Why? Because they are experts at only one thing. If you want to ensure that you capitalize on every sale opportunity and that you are the "expert" in your market, you must ensure that your marketing message is not cluttered. Your marketing message should clearly state that you are an expert in ONE area.

Slide 6

This slide discusses "Undefined Target Market" as the reason for sales failure." It highlights that if your revenue targets aren't being met, it's time to reconsider your target market. To begin, divide your current customers into segments. This will allow you to identify the similarities and differences between your customer groups. As a result, one can identify which aspects of the offer appeal to each group, allowing you to tailor your services or product to meet their needs.

Slide 7

This slide depicts the reason for sales failure, which is “Ineffective Sales Pitch“. It emphasizes that you must incorporate customization in your sales pitch and not have one-size-fits-all presentation. Customers' needs and desires change frequently, and so should your sales pitch. It also mentions that tailoring your pitch to the individual and the situation they are in ensures that you meet their needs because every prospect is different.

Slide 8

This slide discusses the reason for sales failure: "Your Failure to Close Deals Properly." It depicts that not every sale you pursue will be successful. Ask potential customers what kept them from purchasing to bridge the gap between open and closed sales. It also mentions that identifying flaws in your strategy will help you avoid future blunders. One must learn from mistakes and make necessary changes to the sales process.

Slide 9

This slide discusses the reason for sales failure: "You Fail to Follow-up Efficiently." It emphasizes that maintaining a healthy relationship with your prospect or client necessitates an effective follow-up strategy, and following up after a sale demonstrates your commitment to your customer. It also mentions that follow-ups will not only ensure an open line of communication in the future but will also help you generate referrals from your current clientele.

Slide 10

This slide explains the reason for sales failure, which is "Not Calculating the Cost Value of Your Products Correctly." It emphasizes that you could be losing sales due to the low-cost value of your current products. Because no two customers are alike, you must constantly re-evaluate which products/services provide the most suitable value return to each of your unique customers. It also states that a one-size-fits-all sales approach is never appropriate.