While many sales and marketing staff tend to think of their value proposition in terms of discrete ‘features,’ ‘functions’ and ‘benefits,’ business decision makers often think In a completely different way. This means that In order to close more sales, you need to build a ‘business’ perspective In your value proposition. After working with numerous organizations challenged with communicating and delivering a business value proposition, we have Identified five levels of evolution: Do Nothing – Where most companies are today.
Provide Framework – Companies are able to describe the potential impact of their reduce or solution within a customer environment. An easy way to think of this is to ask yourself, What is the direct revenue enhancing, cost reducing, and strategic business benefits associated with your offering? ‘ Providing customers with a business value framework is an effective way to capture attention and interest in moving to the next level. Predict Value – Your sales organization works with the customer to model the potential business Impact and return on investment (ROI). This vastly reduces decision making time and helps generate a budget.
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With a compelling ROI, how can a impotent decision maker not purchase from you knowing they are leaving money on the table? Deliver Value – Measure the previously forecasted business Impact, identify where value is missing, and swiftly take corrective action. This is a powerful way to build customer loyalty and drive associated services and add-on sales opportunities. Share Value – Enter into shared risk, reward and gain arrangements. Most companies ultimately want to do business at this level when they are confident of the value being delivered to their customers, and want to maximize the amount of money earned from any client.