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Consider this: In your job, whatever role or industry you may occupy, you have a moral imperative to create value. Then take that a step further: you also have a moral imperative to capture the value you create.
That's how Anthony Iannarino, the CEO and founder of B2B Sales Coach Consultancy, explained it during a joint Dreamforce session with Mark Hunter, CEO and Founder of The Sales Hunter.
The session was fast-paced and fascinating, with insights that extended far beyond sales. Here are Iannarino and Hunter's 5 requirements for establishing value and increasing revenue:
According to Hunter, having a good product isn't enough. Neither is a good product with outstanding service and support — even when you add a focus on tangible business outcomes. What creates value is a combination of those three — product, experience, and outcomes — with a focus on strategic value creation.
Iannarino also pointed out that selling value can't be transactional. "You've got to care," he told the audience. You can't avoid difficult conversations, and definitely don't start with email — in Iannarino's view, email should be a last resort — after an in-person meeting, a phone call, or even a text.
What makes your value proposition compelling — not just in generic terms, but to a specific customer? Finding common ground on a personal or professional level isn't enough; salespeople need to be able to explain why their solution is the best one to help a prospect solve a specific problem.
Hunter stressed the difference between benefits (what a prospect will "get" from the deal) and outcomes (exactly how the solution will improve the prospect's professional situation).
What's more, prospects need to believe in that outcome; according to Hunter, you can't count it as an expected outcome until the customer says it twice. And don't overcomplicate things: focus on no more than two outcomes so as not to confuse your message.
When it comes to value, time is crucial — so every value calculation should include a careful assessment of the time commitment required from the customer. Try to adopt your prospect's viewpoint to understand how he or she might be calculating the return on investing in your solution.
Hunter and Iannarino urged salespeople to be "price-confident" — to believe that the solution you're offering is worth the price you're asking prospects to pay for it. Too often, Hunter said, salespeople undercut themselves because they're desperate to make the deal. But price isn't the deciding factor: value is.
"Price is not a sustainable competitive advantage. Remember when Kmart was #1?" -@TheSalesHunter #sales #DF14 pic.twitter.com/zgXq8Df9EX
— alexa schirtzinger (@aschirtz) October 15, 2014
In the end, price-confidence and value creation come down to personal confidence and leadership.
"Sales is leadership; leadership is sales," said Hunter. "Do customers want to buy from a follower or a leader?"
Iannarino reiterated the idea that value is a combination of several factors, not just price. "When value ends up on a spreadsheet, you're already done," he said. "Get off the spreadsheet and get mindshare."
Both Iannarino and Hunter are members of the Salesforce Guest Blogger Program. To learn how you can become a Guest Blogger, send an email to blog@salesforce.com.
