Question of the Week – 8: Does Your Client See Lasting Value?
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If you could only ask one question of your sales team this week to move sales forward, what should you ask?
Does the client view our solution as an investment or an expense?
Understanding how clients view your proposed solution provides valuable insight into whether the opportunity is worth pursuing. Clients who see your solution merely as a product they’ve been tasked with purchasing (a simple expense in the budget) may not be the ideal customer.
When sales professionals properly impart how their solution solves specific business challenges, demonstrating lasting value, they lay the foundation for a long-term, mutually beneficial relationship. Selling to clients who see your solution only as a product risks commoditizing it.
Learn more about identifying which opportunities represent the greatest potential here.
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photo credit: alancleaver2000
Bob Hatcher
October 29th, 2009 at 6:26 am
I guess I have to disagree here. If your business is set up to be the low cost provider, then, the value you bring is the low cost. There are many companies at Levels 1 and 2 on the Buy-Sell Hierarchy (see Large Account Management Program) who make a TON of money.
It’s okay to be a product vendor. There are many types of businesses where we will never contribute to business or organizational issues.
The key is to know where your clients want to be, where your company is organized to operate and then to make sure the two mesh.
Now, to answer the question “If you could only ask one question of your sales team this week to move sales forward, what should you ask?”
My answer would be centered around sense of urgency. I need to know if the prospect is in Over confident, Even Keel, Growth, or Trouble mode. Knowing their sense of urgency is the most important thing we can know because without it determining a strategy to close the business is useless.
Bob
Rachel Norkin
October 29th, 2009 at 12:17 pm
Thank you for your comment Bob. You presented several great points. I would contend that organizations whose strategy isn’t to be a low cost leader, but rather to be a valued contributor to their customer’s business, would want to focus their time and energy on the right sales opportunities. Since we know through research that customers only make a decision on price if they don’t see any other difference between two options, the ability to differentiate is extremely important. The most effective way to differentiate yourself from your competitors is through a consultative selling approach where the salesperson digs to understand what the prospect or customer is looking to accomplish and then developing a solution to meet those needs.
In regard to your suggestion for an alternate most important question, it’s a great one. Not only can a salesperson compare the prospect to criteria that make their best customers to determine if the prospect will turn into a long-term, win-win relationship, they should also identify the customer’s sense of urgency to make a decision. Win fast or lose slow? What would you prefer? By asking customers about their buying process time line and also uncovering the motivators behind the purchase decision (are they trying to resolve an issue negatively impacting their business or are they satisfied with where they are but casually exploring options?) the salesperson can get a good indication of how likely the prospect is to make that buying decision in a reasonable amount of time rather than gathering information indefinitely.
There are several ways a manager can help ensure salespeople are spending time, energy, and possibly money on the right opportunities. Prospects who view your product or service as a solution to a problem and have specific, measurable results in mind are more likely to become satisfied, long-term customers.