We have all seen emails like the one above hundreds of times; a short message and an attachment with a proposal whose structure begins with the description of the supplying company. The following is a typical example:
“…being present in over 10 countries, and with over 30 years’ experience in the industry, we are market leaders and…”
This is the part of the proposal that nobody reads but the part that is always included in a proposal. Now, let’s continue with this wonderful document of which we are so proud. After the initial description the solution and the product or service are usually explained…
“—We offer a comprehensive, ad hoc, tailored solution, consisting of a variety of methodologies adapted to the architecture that our client already possesses so that there is no conflict between the solution provided and the existing structure, in order to create a novel and differentiating solution.”
At this point in the document, two things can happen to the client: either they begin to think about all of the work they have and how you are wasting their valuable time, or their eyes begin to close little by little due to the report you are presenting them. This leads us ask many questions: Is there any other way present a proposal? Can we add value to the document itself? When I am selling, how can I generate a value proposition? Is there any way to achieve high expectations from the first minute I begin my presentation? From the first paragraph of the written document?
The response is a resounding YES!
And it’s not that complicated. We just have to pay close attention to all of the information around us and, above all, learn to work it and organize it properly.
I am going to share my secret with you: Whenever I go to an interview or sales meeting, or even when I present a proposal, I objectively analyze in what situation I currently find myself in based on a simple formula:
% of Sales Success = POWER x PAIN x VALUE x VISION x CONTROL
That is to say:
• Do I have access to the Power Sponsor?
• Is the pain a top priority to the Power Sponsor?
• Can I prove the value of our proposal?
• Can I achieve them to look at the situation with a different vision / different point of view?
• Can I control the buying process?
The higher the value is for each of the previous factors is, the higher my chances of a successful sale will be, as long as each value is greater than zero.
I am aware that we are now using concepts and ideas that need clarification., for example, the definition of a Power Sponsor.
- A Power Sponsor is someone who has the capacity and authority to make a final decision regarding purchasing. This person, although their decision may be influenced by others, has the authority to make the final decision.
What is Pain?
- This is slightly more complex, but can be defined clearly as the feeling one has when they are unable to achieve job specific responsibilities and duties.
Once we recognize this, it is possible that there is not a definite need that detected, but we should always strive to avoid reaching our pain. We will not go over the remaining concepts, as I am sure we all understand them.
So, in order to create a value proposition in the sale, I have to offer something to my client that really interests them, that catches their attention, and makes them think, “this product or service can truly help me achieve my goals”.
For me to be able to offer that, I have to deal with the critical information effectively. Critical information is what will allow me to focus my sale which is being valued by my client, because by managing this it correctly, I am able to make him see that it brings clear benefits. We are talking about information like:
• Knowledge of the industry and client in question
• Evolution and market positioning (benchmarking)
• The clients business and strategic goals
• Understand what their pain is
• The influence they have in the market
• The purchasing phase they currently find themselves in
• Role in the organización
• Understand the motivating factor in the purchase
Tailor your solution in each case by personalizing and differentiating the information and proposal for presentation, if your interview is face-to-face, or by formally capturing it in a proposal that they will receive. Structure the information in the following order:
2. Target / Objectives
3. Name of the solution and the BENEFITS offered to the client
4. Characteristics of the solution
5. The team that is implicated in the proposal
6. Implementation schedule
8. Success stories
Do you truly want to create a value proposition for your sale? If so, you must not think about selling your product or service, instead think about how your product or service will benefit the client and how it will help them achieve their own business and strategic goals.
An article by Augustín Marques de la Cruz, Senior Consultant at Overlap