Influence decision making
This is a topic to beat one's brain out, in fact, a quest for making my selling efficient, for standing out against the competition, and influence a buyer's decision to close the deal and secure a commitment in favor.
All I knew about a confused buyer is, all bets are off!
In today's competitive scenario, the buyers often end up with many proposals on their table. Every seller engages in a pre-sales conversation bidding for their product, highlighting its features and benefit. During this exercise, the buyer obtains insight into various products.
Each proposal comes with distinctive product offerings that make the buyer be left floundering only to end up with a question "Which one to buy?". The buyer starts to analyze the added value of the product solutions to their business that increases the sellers' expectation and starts to ask, "Why should I buy your product?"
The above process consumes lots of time and energy; hence to reduce the time, the buyer starts to focus on the commercial offers and eventually bargains with the seller. If a seller reacts to the situation, he/she will fail to realize the right value of the product to and from the buyer.
If I empathize with the buyer, I can rephrase the question as "What's in it for me?"
Therefore, to realize the right value of the product, a successful seller has to influence a buyer's decision-making by sending a unique proposal with the best value proposition that stands out against the competition and answers his questions. The proposals from an average seller make a buyer be left floundering about the added value.
The value proposition should be value-centered that highlight and adds value to both parties. It has to be a framework with the summary of benefits of the proposed product, combined with the technical and commercial solution at the right proportion that will keep the competition away.
The answer to the question is “Value Proposition”
It is always a challenge to influence a buyer's decision with a value proposition; nevertheless, it can be achieved through practice and continuous improvement.
Firstly, the seller has to identify the needs of the buyer and choose the right product. This requires adept knowledge of the target segment that buyer belongs, their business process, and wherein the value chain does the product fit. The most important task is the pre-sale discussion, wherein the seller should ask the right question to understand the needs. This has to be complemented by the knowledge and portfolio of products with innovative technology for the target segment.
Secondly, the seller has to develop solutions for the identified needs and transform the benefits of the chosen product and its feature into real value for the buyer. This requires a strong understanding of buyers' workflow and understanding of finance to transform the tangible and non-tangible benefits of the product and its features to show the increased productivity, the amount of time and money saved, resulting in efficient operations with low cost of ownership. This has to be complemented with product quality assurance, a commitment to the very best after-sales support, and concerns over safety in the buyer's business.
Finally, the seller has to influence the decision of the buyer to get his commitment to the best value proposition that focuses on long term association, Boosting the performance of the business, increase in the profit, satisfaction, and improved efficiency of the employees and ensures his end customer satisfaction with care to overall safety.
At the end of the day, a Value proposition is an effective tool to influence a buyer's decision-making to realize the value of the product by both seller and buyer.
Influence decision making with your best value proposition
Happy Selling!!!