A saturated market is not necessarily a bad thing. It means your solution is validated and useful, not fringe or niche. It also eliminates a lot of having to educate a prospect about the nature of your solution, as there will be familiarity. Your job then becomes a matter of making sure you're able to sell your solution based on where it's better than the competition and how it will solve your prospect's problems.
An example: Just because every company has a website doesn't mean they're necessarily happy with their web platform. They might be dealing with shortcomings, and need to find a new solution to replace what they have. As a sales rep, you get to uncover the opportunity, and showcase how your solution will provide the company what they need to move forward with their business requirements that the current platform is not enabling.
TLDR: just because companies are using a solution doesn't mean it's the right solution for them.
Saleswithsingh
Good Citizen
0
Sales manager
Great explanation!
CuriousFox
WR Officer
4
🦊
Value value value. Why you why your product and why now.
TennisandSales
Politicker
4
Head Of Sales
a few things. 1. understand WHY people choose you. what makes you different? 2. make sure you make it super easy for people to buy from you when they are ready. 3. understand the short comings of the competitors and use stories to make this more clear (with out coming across like you are bashing them haha)
braintank
Politicker
3
Enterprise Account Executive
Have a better product, better pricing, or just be really likeable
antiASKHOLE
Tycoon
3
Bravado's Resident Asshole
Sell yourself and add the value of the product.
KendallRoy
Politicker
2
AM
Depends what you mean by saturated. My old company sold in a “saturated” market where everyone was using a competitor, but I knew what levers we could pull, what the pain points of competitors were and how to run a successful POC to demonstrate value.
Saleswithsingh
Good Citizen
1
Sales manager
What's POC?
SADNES5
Politicker
0
down voters are marketing spies
Proof of concept. (fix the pain)
SaasSlingin
Politicker
1
Sr AE
Same here with my last company. We still won a lot by 1) leaning on what we did best and 2) providing a seamless buying process.. customers really appreciated that esp when urgency came from their side
Pachacuti
Politicker
2
They call me Daddy, Sales Daddy
Go read “Eat their Lunch”
SADNES5
Politicker
0
down voters are marketing spies
Haven't read it - can you provide a couple bullets? I'll add it to my list.
Pachacuti
Politicker
0
They call me Daddy, Sales Daddy
Its all about taking business from your competition in a highly saturated environment.
JDialz
Politicker
2
Chief Operating Officer
I’m in such a saturated market that even prospective clients sometimes think they can do what we do: Advisory and wealth management. That’s before even considering the myriad of slapdick brokers, easy access to roboadvisors, and the cesspool that is WSB.
We have to sell people on “us;” the advantages that we bring to the table in both tools and access; we’re trusted advisors who build relationships with clients, not a 1-800 number or a search engine; we’re an institutional advisory firm so we can actually hedge down markets while retail brokers are objectively incapable of down market hedging; etc.
Saleswithsingh
Good Citizen
1
Sales manager
This is interesting man! Anything you do around forming a USP or using unique angles in the messaging of your outbound campaigns to generate more sales opportunities??
CRAG112
Valued Contributor
1
Account Executive
Be direct and cut the bullshit. The market is saturated. Value is cool and all, but in that market your buyers will be heavily leaning on price. Buyers here and there will give a shit about value and quality.
Differentiate how you sell. Don't be like everybody else. Discovery is key and absolute. Great discovery is a must. Stay curious. Be direct.
Get in front of and call every single person in your area and start making a table of buyers and where their interests lie, what their business plans are for the future, what their future purchases are, what are they doing right now, what it would take to get a meeting, etc. etc.
17 comments