Can You Spot the Counterfeit?

Spotting the Counterfeit: Lessons for Software Sellers

The US Secret Service trains its agents to spot counterfeit bills quickly and efficiently.? In fact, they have a nice web page on the topic.? Know Your Money The fascinating thing about the training (and the webpage) is that there is never any mention or study of the counterfeits.? Instead, they focus exclusively on the “real McCoy”: official US currency. Agents are educated on the unique qualities and characteristics of genuine bills, which enables them to spot fakes with greater accuracy and efficiency.

Here are some of the many distinct features of US currency that agents learn to identify:

1. Material Composition: US bills are printed on a material that is better described as a fabric than as paper. This unique blend of cotton and linen gives the bills their distinctive feel and durability.
2. Reflective Properties: Genuine bills have reflective properties, including color-shifting ink that changes color when the bill is tilted.
3. Interwoven Metallic Threads: Bills contain security threads that are interwoven into the fabric, visible when held up to light.
4. Watermarks: Each bill has a watermark that is visible from both sides when held up to light.
5. Microprinting: Tiny, intricate text that is difficult to replicate is printed in various locations on the bill.
6. Raised Printing: Genuine bills have raised printing that can be felt by touch.
7. 3D Security Ribbon: Some denominations feature a blue 3D security ribbon woven into the bill.
8. Color-shifting Ink: The ink used for certain numbers on the bill changes color when viewed from different angles.
9. Serial Numbers: Unique serial numbers are printed on each bill, with specific fonts and spacing.
10. Federal Reserve and Treasury Seals: These seals are printed with sharp, clear lines and are difficult to replicate accurately.

By focusing on these authentic features, agents can more quickly and accurately identify counterfeit bills than if they had spent their time studying a myriad of fake examples.

How Does This Apply to Software Sales?

Just as the US Secret Service trains its agents by focusing on the unique qualities of genuine currency, software sellers should “train” their prospects on the functional differentiators that set their solution apart from the competition.? You are likely selling in a market where there are scores of competitors, each working hard to close their gaps. Trying to discover, track, and communicate everyone else’s shortcomings is a dangerous game and can further confuse your prospect.??

However, all too often, I see sellers rattle off their key differentiators as though they were ‘me too’ capabilities.? Then they move on to a list of their competitor’s shortcomings.? Neither advances the ball effectively toward a win / win situation with the prospect.? You may have missed your best chance of gaining a significant advantage. When the question hits the table, “so why should I go with your solution?”, you need to do better than providing a bulleted list of your advantages, or, heaven forbid, begin by blurting out competitive FUD.? Fumbles like that will level the playing field rather than tilt the table in your favor. You need to take the time to help your prospect understand your key differentiators clearly and the value each represents.? Ideally, you need to? convince them that they ‘need’ those features or capabilities in order to be successful.? Finally, you need them to be able to articulate your differentiation and the ties to success as simply and confidently as you can.

Does Your Solution Have Critical Differentiators???

Here’s where the magic happens!? When you realize that your solution has a differentiator that is not a ‘nice to have’ characteristic but one that is essential to your customer’s success, you need to double down on it.? Forget casting fear and uncertainty on your competitors, center your conversations and additional sales motions on the goal of getting the customer agree that your differentiator is essential to their success.? Your prospect will then be able to ‘spot the counterfeit’.? Again, they must have a clear understanding of the capability and the value it represents. ? This approach not only builds trust but also positions your product as the clear choice in a crowded market.

Consider this; If they do see that your capabilities are so unique and essential to their own success, you will be able to defend your pricing and maintain your margins. But your customers will be so happy with their decision that it will still be a win / win for you both!

Closing

Just as a well-trained agent can swiftly identify a counterfeit bill by looking for the unique qualities of genuine currency, you can help your prospects make informed decisions by effectively communicating the distinct features of your software. Train them what to look for and they’ll be better equipped to make a confident decision.

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Disclaimer: Of course, doing your homework on the competition and understanding their pros and cons is of high import, it's how you use that information and when you use it that is important.