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How can you use software's competitive advantages to stand out?

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Software is a highly competitive industry, where customers have many options and vendors have to constantly innovate and differentiate. As an IT sales professional, you need to know how to leverage your software's competitive advantages to stand out from the crowd and persuade prospects to choose your solution. In this article, we will share some tips on how to use product knowledge and demo skills to showcase your software's unique value proposition and benefits.

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Kandarp (KP) T.

Strategic IT Sales Professional | Driving Digital Transformation through Innovative Solutions | Let's Grow Together
Colleen Pimentel, CPA

1 Know your software inside out

The first step to using your software's competitive advantages is to know your software inside out. You need to understand not only the features and functions, but also the underlying architecture, design, and logic of your software. This will help you to explain how your software works, why it is better than the alternatives, and how it can solve the specific pain points and needs of your prospects. You also need to keep up with the latest updates, enhancements, and integrations of your software, so you can highlight the new and improved capabilities and benefits.

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2 Know your competitors and their weaknesses

The second step to using your software's competitive advantages is to know your competitors and their weaknesses. You need to research and analyze the strengths and weaknesses of the other software solutions in your market, and identify the gaps and opportunities where your software can excel. You also need to anticipate the common objections and questions that prospects may have about your software compared to the competitors, and prepare the answers and evidence to overcome them. You can use tools like SWOT analysis, feature comparison charts, and customer testimonials to help you with this step.

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3 Know your prospects and their goals

The third step to using your software's competitive advantages is to know your prospects and their goals. You need to understand who your target audience is, what their challenges and objectives are, and how they make their buying decisions. You also need to tailor your sales pitch and demo to match their specific interests, needs, and preferences. You can use tools like buyer personas, customer journey maps, and discovery questions to help you with this step.

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Colleen Pimentel, CPA
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This is the key. You need to understand your prospect and their business KPI/goals in order to showcase where you can add value. Without this, your just speaking mumble jumble and hope something will land. Due diligence takes time, but it actually saves time. Time saved showcasing value faster, qualifying leads in/out. Don't skip this step..

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4 Craft a compelling value proposition

The fourth step to using your software's competitive advantages is to craft a compelling value proposition. You need to articulate how your software can help your prospects achieve their goals, solve their problems, and improve their situation. You also need to emphasize how your software is different from and better than the competitors, and what makes it unique and desirable. You can use tools like elevator pitches, benefit statements, and value propositions to help you with this step.

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Colleen Pimentel, CPA
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You can only craft a compelling message after you've done step 3 and validated it with the customer. At steps 3 you have a thesis. There is a step between 3 and 4 which includes validation of the thesis. It's only at this point, you can craft the compelling value prop for the customer.

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5 Deliver a powerful demo

The fifth step to using your software's competitive advantages is to deliver a powerful demo. You need to show your prospects how your software works, how it can meet their needs, and how it can deliver the value proposition. You also need to engage your prospects with interactive and personalized elements, such as asking questions, soliciting feedback, and addressing concerns. You can use tools like demo scripts, checklists, and best practices to help you with this step.

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Colleen Pimentel, CPA
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Don't forget to add a discovery session before the demo, so you can actually speak the prospects language and have validated the value prop.

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6 Follow up and close the deal

The sixth and final step to using your software's competitive advantages is to follow up and close the deal. You need to maintain contact with your prospects, provide them with additional information and resources, and guide them through the next steps of the buying process. You also need to ask for the sale, handle any objections or negotiations, and finalize the contract and payment. You can use tools like email templates, proposal templates, and closing techniques to help you with this step.

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Colleen Pimentel, CPA
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"Ask for the Sale" - simple but many have trouble with this. Always be Closing. Always ask how to move this forward. You aren't going to close a sale on a first call, BUT your goal should be qualify in/out and push this forward. Some deals take 2-3 calls, some 10-15, some over 50. Always be pushing things forward and reconfirm with your prospect on timing and sales eval process

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Kandarp (KP) T.

Strategic IT Sales Professional | Driving Digital Transformation through Innovative Solutions | Let's Grow Together
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In addition to the mentioned aspects, here are some factors that provide you with a competitive advantage in the market: -Innovation: Regularly update & introduce unique features. -User Experience & Performance: Prioritize a user-friendly interface & conduct regular usability & performance testing. -Security: Emphasize & implement robust security measures. -Integration & Customization: Ensure compatibility with popular tools & platforms and they should be able to tailor the software to their needs. -Customer Support: Provide responsive support & training. -Reports: Offer comprehensive analytics & insights. -Cost Efficiency: Provide competitive pricing. -Community Building: Build a user community for engagement & feedback.

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How can you use software's competitive advantages to stand out?

1

2

3

4

5

6

7

1 Know your software inside out

2 Know your competitors and their weaknesses

3 Know your prospects and their goals

4 Craft a compelling value proposition

5 Deliver a powerful demo

6 Follow up and close the deal

7 Here’s what else to consider

IT Sales

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How can you use software's competitive advantages to stand out?

1

2

3

4

5

6

7

1 Know your software inside out

2 Know your competitors and their weaknesses

3 Know your prospects and their goals

4 Craft a compelling value proposition

5 Deliver a powerful demo

6 Follow up and close the deal

7 Here’s what else to consider

IT Sales

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