How do you communicate the value of what you are selling? Your value proposition, or how your clients benefits from your services, can make the difference between having the ability to charge a premium or getting caught in a bidding war.
Long gone are the days of selling features and benefits. Today, selling requires a deeper understanding of a client’s business, an in depth dialogue of their inner workings and a well-honed ability to quantify your value in the eyes of your customer.
Does your message resonate with your clients?
When we ask clients to quantify their value proposition they default to “we save them money” or “we are cheaper than our competition”. WRONG!! We can assure you that the competition is saying the same thing.
It’s time to dig deep and bring your A-game (backed by concrete numbers!) to the sales conversation.
Quantifying your value will increase the likelihood of resonating with your client – beyond just cost savings. Consider some of the other ways you can quantify service value to your clients:
- Enable your clients to charge a higher price for their products or service: Does your service improve the quality or value of your client’s offerings? Can they charge a higher price? Do you help improve, communicate or streamline how they go to market?
- Access to knowledge: Sometimes what you sell can help clients gain valuable feedback from their customers. Better data and feedback can help them run their business more efficiently or evaluate how well a project went.
- Improve cash flow: Let’s face it—even large companies need to manage cash. How does your service help them increase revenue or reduce the amount of time until they get paid? Do you offer terms to help them manage their cash?
- Reduce the sales cycle time: It could be that your customer takes a long time to close deals with their customers. Or, if you work with Fortune 100 companies, sometimes your buyer has to “sell” your solution internally. The shorter the cycle time and quicker they can book sales means they are more likely to hit yearly goals.
- Help them improve their relations with vendors or customers: Buyers often have multiple clients both internal and external they have to serve. Can your service provide your clients with better negotiating power and/or improve brand awareness to help them command a premium price with their customers? How can your product put them in a position of power to help them negotiate better with their vendors on price, delivery or service?
- Bring their product/service to market faster: The speed in which clients can launch new products or services can determine if they meet their yearly goals. Find a way to help them improve their speed to market.
Build value now and later: When you are quantifying your value proposition don’t forget to include the immediate benefits as well as the benefits in perpetuity. Often times that latter is overlooked.
Communicating your value beyond just cost savings distinguish your company from the competition and initiate a deeper conversations that builds rapport with your clients.
Today’s sales conversations are all about VALUE. How are you providing clients value with your product or service?