The sales challenge of October 2020 was about presenting the value of your solution to your customer in a convincing way.
Sales challenge October 2020
In your conversation with the technical manager of a prospect, you heard that next week the management team will decide which projects have priority. Because of Corona, they need to be very selective. Some projects will be cancelled, some will be postponed.
In one of the projects that they will discuss, your product is used.
When you ask them what the criteria are to go through with projects, postpone projects or cancel projects, they said that the ROI (Return on Investment) and pay-back time is essential.
You know that your product will increase the speed of their production machines by 60%. So you ask: “Tests have shown that our product increases the speed of your machines by 60%. Taking the price of our product into consideration, it must be clear that the ROI is very high. How big is the chance that this project will be continued?”
Your conversation partner says: “Well, you are right about that speed. But we have a lot of additional costs, such as a redesign of the machines, testing and the production-stop when we implement it.”.
How would you react?
How to sell the added value?
To convince someone of the added value, you always have to take some ground rules into account. These are:
- Crucial: be prepared! Make sure that you anticipate the numbers that the customer can give you. Make the calculation yourself several times with these numbers to make sure that the outcome will always be positive,
- In the meeting: make the calculation together and never assume! Let the customer come up with the numbers – both the benefits and the costs (production speed improvement, redesign, testing, production stop, etc.),
- The customer should make the calculations, you note it down!
- Conclude together that the added value justifies the investment.
The technique of “Determining and selling the added value” is part of my online and blended sales training programme and very important to convince someone that your product is best for him or her. In this module, we extensively discuss and practise this technique.
There’s a new sales challenge waiting for you and you can participate as well: