The typical business-to-business (B2B) sales professional is more at ease when discussing his company’s products than he is when talking about business issues. There is a bit of irony in the fact that the average B2B buyer considers a sales professional’s business knowledge to be more important than his ability to tout a product or service’s merits. There are some major consequences of these truths. The vast majority of revenue generated in B2B sales environments is catalyzed by a shockingly small percentage of the sales population. There is an enormous gap between elite B2B sales professionals and the rest. The question is why such a gap exists between MSP business sales professionals.
The Issue of Value
Plenty of evidence shows the primary difference between elite B2B salespeople and the rest of the pack is the ability to generate a unique value for clients with value-based sales techniques. These techniques are implemented in a highly disciplined manner and apply across the full marketing and sales effort. Value-based selling means more than maximizing a solution’s value for clients. Sales professionals who focus on their value at the outset of a sales opportunity often end up reducing the chances of conversion. If there is not a problem to solve, a solution is unnecessary. The value of a B2B organization’s sales solution will not be meaningful to the client until they understand the inherent value in solving the problem to start with.
The target customer must understand that there is a cost that results from failing to act. If he does not understand that change must occur, he will likely leave the situation unchanged and not give serious consideration to the proposed solution. Unfortunately, this is the result of most seemingly well-qualified opportunities for sales. Such candidates typically consider the prospective solution for months or even years but end up maintaining the status quo.
Key in on the Value in Solving Client Problems
The primary principle of selling in a value-based manner is to zero in on the value provided to sales prospects in regard to the issues that has been identified as a problem. If the prospect can’t explain the problem’s costs and negative results as well as the potential value of overcoming it, he probably won’t be able to convince his organization’s decision makers to spend on a possible solution. As a result, the sales professional’s efforts won’t lead to a conversion.
Do not assume every prospect has a firm understanding of all the money, time and energy wasted by the problem in question. The best sales professionals help target customers understand the true costs and consequences of doing nothing. Elite sales professionals will make the extra effort to shed light on the aspects of the challenge that the prospect might not have considered. Furthermore, sales professionals who highlight high-impact issues the prospect might not have been aware of tend to reap the rewards in higher conversion rates. If the value of the proposed solution is still weak, the sales opportunity should be put on the back burner for gradual nurturing.
Define the Value in Detail
Do not assume prospects will respond to over-generalized marketing proclamations about the proposed solution’s value. Value-based selling requires specificity about the value provided to each prospect. Salespeople who take the time to custom tailor the value proposition to each individual customer enjoy extraordinarily high conversion rates. So be specific rather than broad when discussing how your MSP business can help prospects. Key in on selling the services and features of your solution that have relevancy to the prospect’s unique challenge. Communicate how your organization delivers value and the target organization’s decision makers will give serious consideration to hopping on board. Maximize the value of each prospect interaction, focus on the buyer’s needs, facilitate the buying process and sales will eventually increase.
Successful MSP Companies Commit to Value-Based Selling
The value of your MSP business’ services to a particular client matters just as much as the services’ merits. Do not invest your resources in attempting to convert a prospect that is unlikely to need or appreciate your services. Consider value from the client’s perspective and you will reap the benefits.