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.


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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