IBM no longer claims those letters stand for “I Bring Magic.” Too many technology vendors can make the same claim.
Plus, Technology can appear to be magical. But at technology’s heart, it’s still simply Xs & 0s. If you seek for magic to be magical it must have three qualities: 1. unique 2. C. demonstrable value 3. habit forming.
50 years ago the sales formula for Success was, Calls + (demonstrations/trials) = sales. 50 years ago the dominate prospect’s manta was “If I want it, I must need it, so I’ll buy it.” These decisions were made on speeds, feeds, price and availability.
This worked well for Salespeople for over 50 years. Sales People loved to make feature, function benefit (FFB) sales presentations. The salesperson must do the majority or all of the taking. In other words, it’s all about the product. It was only important for the prospect to understand how the product functions and have punch list of possible applications in mind.
FFB was, and still is successful, especially for impulse products that costs under $100 dollar, products like: Vegematic Blender, Ronco Pocket Fisherman, (both under $50) and Leatherman Surge Multi-tool, with Nylon Sheath – Silver– $99.85.
Flash and dash, hit and run, Harold Hill’s “River City Needs a Boys Band” focuses on features, function, and benefit. Then, go on to more “calls + demonstrations/trials = sales”.
Most of the time, this type of approach attracts the competition: Prospects sometimes like to take their time making decisions. For example: “That last demonstration was interesting, but let’s see what XYZ has and then go to lunch, on the rep’s card & with rep – only if that is necessary?”
Today’s, yesterday’s Dr. Harold Hill dramatic sales presentation, are experiencing a “sea change” in the form of a Reality Sandwich.
That reality is the recognition that “Success follows Value”. To pursue success, without offering an identifiable and believable value proposition, usually brings results that are similar to chasing a mirage. Creating Value is a team effort.
That is especially true if the purchase price of the product needs multiple approvals. The road to success is most efficiently traversed by the carriage named VALUE.
Today, “It’s not so fast,” and it is more about defining response-abilities and measuring results.
But be aware, Value is where Success often meets significant competition. However, if your proposal’s focus is on a Value Proposition that is unique, compelling and habit forming, you will win.
If you and your competitors choose to compete based on technologies’ speeds and feeds, price and availability, you may still win that competition. UNLESS, a competitor makes a Value Proposition – in which case you will loose. Value competes at a higher level.
The more important issue, is how to manage the process and measure the results – quantitatively and qualitatively. That technique allows us to assess of the value change has brought to the enterprise by their commitment to increasing Value.
Value decisions usually require the majority of the enterprise’s leaders to concur. Once approved, these are the last projects to be considered for budget cuts.
What would it mean to you if you had process that tells you what your prospect values? Armed with that knowledge it is up to you to provide direction that you believe is in the client’s best interest. Anything else will keep you up at night and probably fail…..
If you would like to talk about making disruptive & effective change, start by defining your desired results in terms Values and/or be introduced to our Value Incubator, please give me a call: Buck Rogers 303 221 0252 or firstname.lastname@example.org. What an organization values, is what is valued by their most valuable employees. Who would be more qualified to determine an enterprise values?