| After decades of conducting lost sale post | | | | the competition offers the same item, whatever |
| mortems for clients, one fact stands out - | | | | that feature/service/product is, then that item is |
| prospects are overloaded with information. This | | | | not your competitive advantage. |
| fact is critical to understanding why prospects do | | | | 2. How does the absence of your value show up |
| not invest the time required to fully comprehend | | | | in the prospects world? |
| the brilliance of your product or service. Even if | | | | 3. Where does the absence show up? |
| they try, they frequently map your promoted | | | | 4. Who does the absence impact first/most? |
| feature/benefit data points into their world | | | | 5. When does the absence show up? |
| incorrectly. The reality is prospects make better | | | | 6. How does the prospect perceive or react to |
| decisions when you translate your unique product | | | | that impact? |
| or service capabilities into their world for them. | | | | The breadth and depth of your Differentiating |
| That is where they live, work and, most | | | | Value platform determines the amount of traction |
| importantly, make buying decisions. | | | | your product or service has in target market |
| To help prospects understand the value of your | | | | segments. It also determines the level of premium |
| offering, there are two universal communication | | | | pricing you can achieve. |
| objectives for every sales call: | | | | Once your Differentiating Value is mapped into |
| 1. Bridge the communication gap between you and | | | | the prospects world, the most effective way to |
| the prospects world. | | | | shorten the sales cycle is to base your qualifying |
| 2. Communicate in a way that will help shorten | | | | process on your DV. Usually the consequences of |
| the overall sales cycle. | | | | life without your product or service arent horrible, |
| The first objective starts by scrapping the | | | | they are just unknown. Therefore, when you |
| stereotypical features and benefits data dump. | | | | translate the consequences of not being your |
| Spending the entire sales call blathering on about | | | | customer into your prospects world, they can |
| features and benefits sends the prospect into | | | | start envisioning their own perceptions of new |
| screen saver mode and usually ends up with the | | | | possibilities. The more their perceptions become |
| dreaded dead-end stall, I need to think it over. | | | | compelling, the more traction your Differentiating |
| The best option can get lost in this process and | | | | Value has in their decision process. |
| the low-price alternative prevails more by default | | | | To be clear, simply defining your Differentiating |
| than by choice. | | | | Value does not mean prospects will jump on |
| The communication gap solution is to introduce | | | | board as soon as you introduce life without your |
| your products and services based on their | | | | DV. Prospects will work hard to convince you that |
| Differentiating Value. Differentiating Value (DV) is | | | | you have no Differentiating Value - especially if |
| what separates you from the competition. It goes | | | | you are dealing with the technical buyer (aka the |
| beyond core competencies and all the generic | | | | purchasing department) who is totally isolated |
| quality, service and support taglines promoted by | | | | from the decision consequences. The key to |
| many businesses today. DV is what you deliver | | | | effectively leveraging your Differentiating Value is |
| that is unique and /or better than the competition | | | | to connect with the person impacted most by |
| (aka your unfair competitive advantages). More | | | | not having your products or services. This person |
| importantly, it is what prospects give up (i.e. lose) | | | | has a vested interest in understanding life without |
| when they decide not to do business with your | | | | your Differentiating Value and in many cases can |
| company. When prospects figure out life in their | | | | direct the technical buyer regarding the final |
| world without your DV, their decision process | | | | selection decision. |
| becomes focused more on your solution and not | | | | Summary |
| solely on your price. This discovery can also move | | | | The first Differentiating Value-based sales |
| your product or service from the nice to have | | | | objective is to establish your unique product or |
| luxury to a need to have priority. | | | | service value platform with the prospect. The |
| The Differentiating Value concept is the | | | | prospect must understand and see the new |
| cornerstone of qualifying and has earned a place | | | | options, possibilities, and consequences your |
| on our Top 10 Rules for CRO success. | | | | Differentiating Value addresses. As stated |
| If you are not clear about what makes you | | | | previously, if the consequences of not doing |
| worth more, you will always compete on price. | | | | business with you truly dont affect your |
| The process for determining your Differentiating | | | | prospects, then they are not prospects. However, |
| Value is based on viewing your offering from the | | | | if they align with wanting/needing your |
| prospects world and answering the following | | | | Differentiating Value, you have a first-level |
| questions: | | | | prospect and the sales cycle has now officially |
| 1. What value do you bring to your customers? | | | | started. |
| Define what really matters to the customer. If | | | | CRO Success LLC 2010 All Rights Reserved. |