The data driven buyer is the one who makes decisions based on concrete metrics and financial arguments rather than something that seems fuzzy, like an improved user interface or a list of features. This buyer wants to have a firm basis from which to choose the solution with the best value expressed in dollar signs or productivity numbers.
When it comes to winning over this type of buyer, assessment tools, Value Calculators, and ROI Tools contribute the information he or she craves. In turn, these tools provide your sales representatives with the data they need to clinch the sale.
That’s because:
- Each tool contributes to a business case.
- All of the tools contribute to your knowledge of the customer.
- Every tool provides data to help with future product development and marketing efforts.
Let's take a look at how an Assessment Tool, a Value Calculator, and an ROI Tool each contribute to the pool of information you need to build a cohesive and compelling business case chock full of the data that moves this type of buyer.
Assessment Tool
An Assessment Tool helps buyers realize the scope and magnitude of their problems by comparing their processes and outcomes to industry benchmarks. The tool helps identify and accurately define their business pains, including financial pain.
An Assessment Tool also shows what changed the status quo. Does the buyer need to:
- Do more with less?
- Ramp up operations quickly?
- Seamlessly change direction?
Whatever the reason, the Assessment Tool helps the buyer determine where the company needs to focus resources because that’s where money is being lost the fastest.
The buyer can narrow the list of solutions and alternatives. The Assessment Tool begins the justification for its price by showing the value it could bring to the buyer’s operations.
Value Calculator
A Value Calculator provides an even clearer picture of the value of your solution. It quantifies the value for data-driven buyers, appealing to their exact motivations.
A Value Calculator compares the status quo to the improvement your solution brings to the buyer’s company. The value is shown in concrete financial terms needed for a convincing business case. The buyer may not be aware of how much money the problems are costing them. The Value Calculator can uncover opportunities to:
- Decrease cost of goods sold
- Decrease cost of selling
- Decrease other costs
- Increase sales revenue
A Value Calculator continues the business case started by the Assessment Tool and builds out the framework of data.
ROI Tool
An ROI (Return On Investment) Tool is the powerful, final piece of information that will sway the data-driven buyer by showing how quickly the investment in your solution will be returned. The output of an ROI Tool is a cost-justified business case to purchase and deploy your solution.
The data driven buyer learns how much the delay in resolving the problem costs the company, making your solution a more attractive choice that should be embraced as soon as possible.
Conclusion
From the first engagement with your Assessment Tool through the close of the sale encouraged by the ROI Tool, value selling tools can help you can present all the data your data driven buyer wants to see, including firm numbers s/he will need in order to be comfortable selecting and championing your solution.
Additionally, a business case that can convince the finance team or CFO of the value your solution brings in financial terms can be built simultaneously using data specific to the buyer’s company and problem.
