Successful organizations use value selling tools to show the financial impact of their product or service. At Vitori Health, a value calculator estimates potential employer savings and helps build a solid business case that emphasizes the economic advantages of their modern employee health plan.
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.
Your ability to help B2B buyers understand the value you provide can make or break the sale. In some cases, as with our client IQS, that means communicating the ways in which the prospect or customer is losing money so that the buyer understands the potential of the solution.
Sometimes the earliest stage in the buying process isn't when a prospect realizes he or she has a problem. It’s a nagging feeling they have about the status quo. Even though things are going well, they still feel they could somehow be better.
This is an opportunity for sellers and marketers. Your job is to paint a vision of what “better” looks like (including, hopefully, the idea that your product or solution can help prospects get there).
Last week I worked with a client to finalize a list of cost savings and revenue gains provided by her company’s offering. During our review, she flagged the section where I had included “sales growth” as a revenue benefit. As she told me, “We’re not allowed to include soft benefits when we present business cases internally.”
Is your offering underpriced? It happens more often than you’d think. For example, during a recent consulting project, I helped a particular business unit at a material manufacturer realize they were charging $100,000 for an offering that was delivering $1.2 million in value.
The other day I got a call from a client asking for my help with a sales problem. His company sells document management solutions to property and casualty insurers, and he said reps were having trouble with a specific set of sales objections. Here's what he said:
I recently came across this insightful blog post, How to Sell Value to Your Customer, that outlines a four-step process on how to sell on value. I want to take the last two steps and point you to some real life examples that might help you better relate to the points and achieve B2B sales success.
Content marketing is an integral piece of today’s B2B marketing approach. However, pushing out content just to prove you have a content marketing strategy rarely generates meaningful results. To be meaningful, you have to help buyers realize why they should work with you. One of my clients, Nuance, does this by showing prospects how much the status quo is costing them.
How much time and money does your company waste each day?
