B2B Marketing – How to Sell Value – not features

hello everyone Ian data here if you recall last night we talked about the new selling environment and what you had to do or what you had to overcome and what was going on in the new selling environment we'll review that in a sec in order to be successful well today we want to talk about selling value but before we do I want to talk about what the new selling environment was just to give us a quick review as you recall there are more decision-makers than ever before particularly in the economy that we have right now time to closes up and buying decisions have gone up the ladder so you know it's gonna take longer for you to to sell and budgets have been cut – there's a lot more random events going on mergers and acquisitions reorganizations and new industries we talked about the social media industry and clients want custom-made solutions not off-the-shelf solutions they want to understand that you're looking after their needs only and they want long-term relationships with their vendors and partners increased competition of course makes it harder for you even though they do want long-term relationships and again clients are not even as loyal as they used to be because of all the complete or serie increased competition and everyone is busy as you know you try and call somebody you leave a voicemail they never call back they have call display so they know who's calling and they're just really busy a lot of people are doing what two or three people used to do excuse me so what what can you do to eliminate competition what can you do well you sell value and the reason most companies fail to increase their revenues dramatically is because they sell features to their clients and prospects and not value so what do you need to do well you need to have a unique value proposition that lets your prospects know what's in it for them that is the really only way to sell in today's environment you really should be the only way to sell ever but particularly in today's environment with the new selling environment well let's back up a little bit before we move on to what value is etc as you know we go into sales or we go into business or become a consultant or whatever because we all live a better lifestyle we want to be able to work when we want play when we want have a time left over for family friends and other activities that's why many of us go into sales and management we see the big bucks wow I'm gonna make lots of money at the end of the rainbow and after working hard and smart to achieve our goals we figure that's what will happen but many of us do work hard we think we're working smart and we still don't seem to get ahead selling is not an easy game but the rewards are great for those who make it and for those who do it right and that's what I want to talk about today let's look at an example of the wrong way to sell although this is a way that a lot of people do sell it certainly better than selling features but it is there are better ways suppose someone says to you if you buy his or her product it will only cost you five hundred dollars but it will give you a 30-day return on investment yeah that sounds pretty interesting the first thing though that comes to your mind is that though is that you've got to put money out of your pocket your $500 I got to give them $500 to get a return they may then start to tell you about the features of their product how fast it is how big it is how much better it is than their competitors product what happens then your first thought after that is probably maybe I should find out a little bit more about the competition right it's absolutely and then you put them off until you can find out more and this of course is what all your clients and prospects are doing if this is the type of thing that you're into the type of way you're selling so let's look at an example of the right way to sell or maybe I should say a better way to sell suppose that same person said to you how would you like to double your money in 30 days now they have your interest you're not talking about ROI they're not talking about how would you like to double your money in 30 days if they then said what if I could get you $500 in 30 days would you be interested well they're gonna double my money I'm gonna invest so maybe I'll get a thousand well I'm interested hopefully I don't know if that's not betting on anything or it's nothing illegal but let's see what else they have to say so you probably would say yes or the very least you'd want them to tell you a bit more about it if they then told you about other people who have made that kind of money in that time frame the same timeframe 30 days then you'd probably be very interested certainly a lot more interested than you would the other ones they carry on tell me more they are giving you a value proposition and that's what we want to talk about today and they're not selling you anything or services well the first thing it says is keep your products and services behind your back now you're probably wondering what in the world does that mean well it means you have to sell value of getting back to what we did before they got a peak interest you've gotta sell value and value usually ends up being related to money somehow so how do you do that how are you going to sell value let's look at the reasons that Corp will keep it by corporate people by because we are selling in the b2b marketplace here and so we want it that we're always talking to corporations corporate people by for two reasons they want your products and services that will help them do their job better and solve problems for them do their job better solve problems for them keep that in mind all the time and there are five areas where you can motivate your clients and prospects to buy from you to help them do their jobs better and to solve problems for them okay as opposed to just saying I'm going to solve a problem let's look at those five areas that you should review and we'll look at each one a little more individually the five areas are improved performance increased opportunities a competitive advantage risk mitigation and personal wins let's look at each of these a little more carefully individually now improved performance means what you're going to help them with is you're going to give them an increase in revenue or profits that's what your products can help them do or you may decrease expenses or costs a lot of times that's what software products help you do or an improvement and productivity is what your products and services do so you're going to give them an improved performance by giving them one or more these three factors you may be able to your your products and services may help them have increased opportunities they may be able to enter new markets they may be you may be able to help them develop new products based on what you know or it may even go into a whole new business line totally or you may be able to help them expand so you're going to give them increased opportunities with what your products and/or services do how do you give them a competitive advantage while you show them a differentiation what your product or service can help give them a differentiation which is of course what you always want to do you can give them a they could become the low-cost provider in their particular industry or niche and you may help them get into other niche markets now as you see there's some overlap in these and the other ones risk mitigation now every solution carries risks there's no doubt about that because if you're going to give people a product or service they're you a one way a carriage this is you're going to disrupt what they're already doing so you're gonna do you're gonna disrupt the status quo which a lot of people argue against that you don't need it so you've got to figure out how you're gonna sell that part of the thing the other side of risk mitigation of course is legal and government regulations as an example sarbanes-oxley came in a few years ago were public companies had to give details on how they how they mitigated risk and also the the CFO and the CEO had to sign off on corporate statements so that if anything was wrong with them as you know we had out the Enron deal etc back about eight or ten years ago if those things happen again then the CEO and CFO would be liable for jail also included the CIO so there is some risk mitigation if you've got products and services that can help them mitigate those risks then they're definitely going to be interested in the last one and probably the most important one that I believe that you can help people is in personal wins and what does that mean well it means that you're going to help them win emotionally personally as opposed to the other three work for rather which were corporate let's start at the bottom right hand Quadrant and work our way clockwise around to the top right-hand quadrant and just look a little bit at what they do I win you lose now this is you're trying to beat the buyer in some way and in the long run you will lose the lifetime value of that potential client so that never wins so stay away from that I lose you lose well this really doesn't need to be talked about because it says it all it happens when you get in an argument with your prospect or client and get a short-term gain for a long-term loss stay away from these situations and stay away from clients prospects that you believe you're not going to get along where that happened to me recently and I just said I don't need this type of business so you'll walk away from it the the quadrant at the top left I lose you win this is a situation where you you may want this to happen and that is to get the client in the door you may an actually should certain many times offer all kinds of incentives and guarantees to initially get an obtain a client this should only be done when you consider the lifetime value of the client and you want to show that client your knowledge and expertise yeah phone companies do this all the time as you know and of course we're always looking at the top right hand quadrant which is I win and you win of course this is the relationship you want to build with all your clients win-win relationships form the basis for any solid experience with another person and client this is obviously true whether as a business or a personal relationship and a lot of time your business relationships will turn into personal relationships and as you know I've been in business for a long time and many business relationships turn into very meaningful personal relationships and some of these can last a lifetime a lifetime okay let's look at the difference between corporate results and personal wins in corporate results the impact of your product or service has on the business it has an impact rather on the on the business process of your customer or client which means as we talked before you're going to go in and you're going to change the process that they use and you're gonna have a an impact on that and your results obviously are going to be tangible measurable or quantifiable they should be anyway so you should be able to tell them what their results are we talked about that's when you talk about our oh I and the other example was a personal win and of course results are corporate personal wins this is the fulfillment of a promise made to oneself so when you're selling to somebody they have particular reasons that they not only want to help their corporation but they want to help themselves and you've got to delve into them and that's something we'll talk about in our in the program I'm going to talk about in a minute but so you you've got to give them an emotional reason and you've got to find those emotional reason in wins are using intangible and unquantifiable they want to remain in power they want to get more leisure they want to be an instrument of change they want to be seen as a leader so these are kind of on they're not really tangible they may be to a certain extent they've become a leader but they're really unquantifiable in a lot of respects and as mentioned winds are very personal they really although they may help the organizations but they really you want to work towards them and these this is really what the most important part of what you want to do is get people personal wins so in a quick summary of win results any product or service that provides the tools and knowledge needed to improve a process that's what you want to bring to your client your buyer wins when his or her self-interest and serve again the personal win side of it people buy because they perceive a relationship between your solution and their individual self interests okay you got to keep that in mind the individual the person who wins it's often very difficult to ask someone how he or she wins but that there is a way and I'm going to go into that when we go through my coaching program if you sign up and of course the ideal scenario is a win-win scenario and relationship with for everybody so selling value I hope you've been able to gather some good information on this and hopefully it will help you sell value to your clients and prospects as you move forward in your business a business relationship with them in the next video I'm going to be introducing my new program called revenue Li how to generate from 25 percent to 100 percent more revenue than you predicted and that's what my program is all about and I'll be introducing that in the next little while until next time which should be in the next three or four days I look forward to speaking to you then have a great day

5 thoughts on “B2B Marketing – How to Sell Value – not features

  1. Very informative and good video. A business-to-business (B2B) website is a website that is designed for the explicit purpose of selling products and services to businesses.The sites oracle.com, cat.com, and uline.com are good examples of B2B websites.we ahve article on that know [email protected]: http://5ines.com/blog/essential-features-for-a-b2b-website-in-2018/

  2. Ian, the content of this video is really good, thank you very much. I would recommend you to use better-looking slides or animations. That would help you get more people to click on your videos. Cheers,

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