Thursday, October 16, 2014
How To Identify and Strengthen The Financial Benefits of Your Solution?
Take
help-
There’s no need to reinvent
the wheel. Take help from your sales representatives and marketing teams for
existing ROI case studies, calculators, graphs or other related material to get
started.
Keep
it easy-
The proposal should be compelling
as well as easily understandable. I recommend creating a spreadsheet containing
maximum 7-15 rows. Above this limit, it becomes confusing to anyone except the
most technical buyers.
Attain
an agreed analysis-
Both parties must co-author
see eye-to-eye on the potential financial benefits. The analysis need not be perfect,
nor should it be binding. However, it
does need to estimate the financial benefit to give your buyer a clear understanding
of the magnitude of the benefit of your exclusive solution.
Consider
all the possible scenarios-
This refers to considering
all the possible worst scenarios. It helps to enhance your value proposition
which is the value created from your solution. You’re able to enhance your
solution’s value proposition by examining the entire “pain chain” from the
buyer’s perspective. This pain chain
refers to the all the possible chain of incidents or events which may occur if
things go wrong.
Illustration-
For instance, in future
there can be a missed shipment of auto components to a supplier. As a result
the supplier may fail to provide the required components to the respective auto
company thus causing a rippling effect.
However, even in such
adverse scenarios, you give the buyer an assurance of a back-up plan which will
prevent the client from the ripple effect. For instance, in the same example,
if the supplier has multiple suppliers of the same components then there won’t
be any such hassles!
This kind of approach
will take you a long way in building a credible, trusted and valuable client
base which will act as a rich source of revenues for any business!
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