How do you get your prospects to understand the full value of your solution that you provide? As discussed in previous blogs it has nothing to do with telling them about you, rather it comes from listening and asking the right questions. The diagram below offer's Jeff Thull's Diagnostic Business Development Process. The first question the prospect needs to answer is, why do they need to change? As noted in my previous blog Are Prospects Following Your Sales Process or Theirs? - Jeff Thull as much as 40% fall into a group that don't purchase because they didn't see a problem, or weren't convinced they could change.
Ask yourself if your sales system looks like this?
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Diagnostic Business Development |
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Stage |
Agenda |
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Discover |
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Diagnose |
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Design |
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Deliver |
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One of the key pieces is the second step in the Diagnose Agenda. Are you confirming the impact of the financial impact of the problem? Dave Kurlan our Gazelles Strategic Partner at Objective Management Group identified the Rule of Ratio in his book Baseline Selling. It states that financial quantification of a prospect's problem must be at least double the cost of your solution. Higher is better. Are your people quantifying the impact of the problem your prospects have, and if so are they aware of this rule of ratio?
If you understand this step in the process you can readily see why your prospects are not buying. They are unaware of the size of their pain [quantified], nor do they fully appreciate the ROI they can expect by utilizing your product or service.
Next blog we'll look at the three types of sales systems and why only one works.
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