If your product isn’t selling as well as you’d like it to, you could be putting too much emphasis on what the product offers and not enough on how you can solve your customer’s problem.
There’s a big difference between selling a product and providing a solution – if your customer can see how your product or service can solve their key issues then you’re more likely to make that sale.
Understanding the issues and challenges that drive investment in software and services has never been more critical, so read on to find out how you can understand your clients’ needs and seek to solve their problems.
Less vendor, more problem-solver
By selling solutions you can address your buyers’ most essential needs, transforming your relationship from product vendor to trusted problem solver. You can do this by assessing your clients’ needs, their regulatory requirements and their pain points so that you can clearly see what gaps you can fill with your portfolio. If you’re actively understanding client needs and offering them a viable solution, then you’re more likely to see customer referrals and loyalty increasing.
Understand your customer
Be clear about the drivers that are inspiring your customers to create a budget to help them find solutions. Make sure your salesforce is trained to spot opportunities and tender early – before your competitors. Understand how your customer’s needs will evolve so that you can plan-ahead, adapt, and evolve your own portfolio.
Take the time to understand the language used by your target decision makers and adapt your sales and marketing content accordingly. Tailor your content for each of your new segments if you need to.
Look for new revenue opportunities by segmenting your target customer base in new ways. If you’ve carefully considered which solutions are relevant for each segment and made sure your sales and marketing activity is aligned to this, you can go ahead and make more valuable sales.
Understand your offer
Define how your various products and services can work together to address a practical need. Once you’re clear about this, you can assess the overall market opportunity for each solution. If you’re clear on the expertise, proof points, product content and services that are relevant to your target market, then you can be sure you’re set up to meet their expectations. Always concentrate on your buyer and their needs – the solution will evolve from there.
Once you understand your offer, you can create a solutions-led value proposition to increase the return on investment of your go-to-market strategy. You can train and develop your salesforce to take this new solutions-focused approach.
Be clear on costs
Changing focus towards selling solutions can cost more than you anticipate – particularly if you have extensive online content and printed materials that need rethinking. 93 percent of chief marketing officers say that they’re under pressure to deliver measurable return on investment. You can only be clear on your own return if you’re certain about what your investment will be.
Take the time to understand the budget, resource and skills you’ll need to get from concept to market so that you can be sure that this is the right path for you before making a move. Make sure your forecasting and accounting practices are long-term.
If you can understand your customers, you can offer the solution they’re looking for. You can become a trusted collaborator with high customer loyalty. If you need some support to understand your customers and move to a solution-focused sell, Larato can help.