How to Translate Concepts into Dollars to Close Deals

Selling a product or service ultimately depends on convincing a customer that it will increase revenue or save costs; in other words, that the customer will have more money in the future. You might call this “theoretical money.”

The trick is helping the customer see this “theoretical money” as something substantial and believable that can be used to sell your solution to the other stakeholders inside their company.

ROI vs. TCO: What's Best for Your Business?

Total Cost of Ownership (TCO) and Return On Investment (ROI) seem to be similar methods of proving cost effectiveness, but they perform best in totally different situations.

In fact, if you use a TCO tool at the wrong time in the sales process, you are taking a couple of big risks. Let's take a closer look at ROI vs. TCO and which tool is better for your business.

Do You Need a TCO Tool or a Value Calculator?

Value and total cost of ownership comparisons are important to any B2B sales process. Between them, they attract and justify the selection of your product while building a business case for prospective customers to use when presenting your offering to buying committees and financial approvers.

However, they operate in different ways and at different points in the sales cycle. Each tool has a different goal and addresses different pain points, and each is used by a different primary user to different benefit.

How Small Businesses Can Embrace Value Based Selling to Grow Sales

I’ve previously written about when and why you need a cost-justified business case to close deals. As a quick primer, the more your solution disrupts your customer’s business and as the size of the investment grows, the more likely you’ll need a business case.

Large corporations have the advantage of large budgets and the ability to staff sales and marketing roles in-house. They have employees to fulfill positions like: 

  • Front Line Sales Representative
  • Product or Solution Expert
  • Value Engineer or Value Consultant 

SaaS Renewal Time: How to Measure Value You've Delivered

Traditional sales techniques have always concentrated on closing the sale. Once the sale was complete, there was no further reason to engage with the customer until you had another product to sell. Until a few years ago, software solutions were sold the same way.

Software as a Service (SaaS) and other emerging subscription services changed everything. Marketing and sales must now adapt to a new landscape. One practice in particular has created new challenges; that of offering services using a building block approach. How does a company successfully renew a customer at a higher price as more modules, storage capacity, and users are added?

4 Steps to Move Conversations From Price to Value

While it may seem like customers only focus on price, many of them actually place a higher importance on other attributes. By skillfully framing the conversation using your knowledge of those attributes, you can move their focus from price to value.

You begin by building rapport with the customer. During this time, you will want to ask questions about the business and focus the discussion on what problem the customer needs to solve. From the answers the customer provides, you will learn most of the attributes s/he responds to, providing you a pathway away from price.

3 Ways Value Selling Aligns with The Challenger Sale

The most successful sales reps focus on understanding the customer's business, especially when it comes to solution selling.

These sales reps engage in what some have now dubbed “The Challenger Sale.”

But what exactly is it and how does it align with value selling?

Let’s take a closer look.

Why You Should Add A Value Calculator to Your Marketing Automation Workflow

Marketing automation is rapidly becoming a necessity for B2B sales organizations. Because it keeps the conversation going long after the initial lead is captured, automation creates robust opportunities to engage prospects and promote continued awareness of your solutions.

Some of the biggest benefits you’ll reap from automating your marketing efforts include:

  • Understanding buyers through their behaviors.
  • Tracking the sincerity of buyer intent.
  • Turning conversations into revenue.

How To Use Value Selling Tools for Lead Generation

Successful B2B marketing campaigns attract and engage buyers and decision makers, and set the stage for the sales team to close the deal. More specifically, value selling campaigns emphasize the business value of solving a set of problems rather than the features and functions of the offering and reveal how it can reduce expenses and/or increase revenue.

Providing a business value framework is an excellent way to capture decision makers’ attention and interest. Value selling tools such as interactive assessment tools and value calculators make it easy to provide such a framework and generate leads.

How to Communicate Value to Buyers, Buying Committees & Finance Teams

The most effective way to motivate buyers is to quantify a solution’s value.

While marketing and sales organizations often produce rich content that supports various aspects of the buyer’s journey, they often fail to communicate value as a bottom-line differentiator. When this happens, they lose an important opportunity to persuade buyers and business decision makers.

In order to capitalize on this opportunity, value must be communicated to three distinct audiences: buyers, the buying committee and the finance team. Each group has a unique perspective, and their interests must be clearly addressed by your sales reps.