Saving time.
Saving money.
Good customer service.
Yawn.
When it comes to having a value conversation with a buyer, these are what I call the sales default “Trifecta.”
And frankly, these days, they are just table stakes in any value proposition, and they leave a TON of money (and value) on the table.
In my experience, the “Trifecta” has been played out so much that buyers are mostly immune to them. It’s like we’re chasing dimes and ignoring the pile of dollars stacked neatly beside them.
Capturing the dollars—the big value—lies in deeper conversations about what drives the buyer, what is important to them, what is going on in their head, and how they would feel if they continued in their current (unhappy) state.
Sometimes buyers don’t know they have a need or a problem. (Think about how the Apple iPod revolutionized music.)
For software, this is the key to finding product-market fit. For services, this is the key to capturing value in your engagements.
To capture value you have to…
Reframe your offering. It’s essential to understand the competitive landscape in which your prospect places your brand. For example, my experience is that Web3 companies group crypto ledger systems alongside QuickBooks and expect the same pricing. In reality, they should be thinking about these systems like they would an ERP like NetSuite and expect pricing given the complexity and breadth of the products.
Have deep conversations with prospects to uncover their true needs. The “Trifecta” are surface problems. You need to think about how your solution impacts your buyer’s life, their reputation, their personal satisfaction, or stature in their work or society. These questions are all fair game and have a powerful impact on the buying decision.
Get creative with structuring your offering. Sometimes you have to build trust through small engagements or introductory pricing. However, it is critical you give your clients the roadmap to the larger plan where you can maximize value for them. You have to continuously be able to reinforce your value and lead the prospect to the place where they can see a long-term relationship and roll-out.
THE BOTTOM LINE
It’s time to take the value conversation to the next level. You have to get creative whether it is reframing your offer, uncovering their true needs and getting creative with structuring your offer. If you are on a quest to find product-market fit or being able to customize a solution for a buyer, getting value right is a win-win where you feel you are being paid for the problem you are solving, and the buyer feels like they are getting the best deal ever.
