The stakes are high in today’s hyper-competitive sales environment. Having a compelling offering remains fundamental, as does the need for a well-structured business case that quantifies ROI. Here’s what your sales team should know about business cases before they submit their next proposal.
I am a big believer that value selling is a key element of successful B2B sales. It is based on the belief that customers are more interested in the business value of your offering than its features or attributes. And it requires a persuasive economic argument for the value of your product or service.
Business-to-business (B2B) selling is complex, especially when justifying the price of a solution. Today’s buyers are increasingly discerning and value-driven, so B2B sellers must thoroughly understand their buyers' needs and their solution’s value. A value selling methodology and ROI tools can help.
Developing a solid business case is a critical step in the B2B sales process. It involves creating a clear and comprehensive argument that presents the financial benefits of a solution so that a customer can make an informed purchasing decision.
I recently reflected on what might cause sellers to reassess their value pricing and value selling strategies in a changing economy. While both are rooted in value, value pricing and value selling use different tools with different purposes and reference sets. Let’s take a moment to review the basics.
The biggest gap between sellers and buyers is a shared understanding of a solution’s value. This gap leads to long sales cycles or worse, deals that just fade away. Overcoming this chasm can be accomplished using value selling tools, which function as a Rosetta Stone to unlock insights for both sides.
Labor savings is the value dimension most often challenged by prospects when building a business case. Why is it so tough to get customer buy-in for your labor-saving estimates? While the answer will vary by company, these hesitancies are often at the core.
What’s your sales strategy for 2021? The global pandemic has wreaked havoc in every business sector and will likely dominate the economy going into next year. And the upcoming presidential election is sure to add more uncertainty. What better time to build a 2021 sales strategy that focuses on delivering business value?
Most companies develop sales tools with today’s goals in mind. As you consider whether to build or buy these tools, think about what it would take to create tools that add ongoing value to your sales process and help you continue closing more deals, even as your future needs evolve.
To effectively sell based on value, you need to first grasp the value your offering creates. That is where Grassroots Strategy comes in. Jeff Bennett and I recently published Grassroots Strategy: Cultivating B2B Growth from the Ground Up to share what we’ve learned about building marketing strategies around customer needs and proper pricing strategies.
