Consider that your solution has no perceived or differentiated value until your customers can measure the expected impact on their net profit and, as a result, will invest in it.
Customers have difficulty, on their own, conducting an accurate diagnosis of their situation and recognizing the financial impact of the absence of your company’s solution. Sales and marketing professionals are responsible for connecting and quantifying these valuable solutions for customers. It is critical to guide customers through a diagnostic protocol to determine the specific impact your solution has on performance metrics for various job responsibilities and, ultimately, the overall financial impact on your customer’s net profit.
Why are customers commoditizing high-value products, services and solutions?
In this very complex market, customers have difficulty comprehending the unique value of the various solutions available to them. Technological advances and expanded services frequently surpass customer requirements and understanding. As a result, customers often lack a quality decision process to sort it all out. In absence of value clarity, they will gravitate toward the lowest common denominator – cost – causing pressure on margins, increased cost of sales, inaccurate forecasting, shareholder frustration, and less than profitable results.
Is your company’s value diluted by the time it reaches your customers?
Product Development builds unique competitive value capabilities into a solution and sends it off to Marketing. Marketing typically portrays the solution’s features and benefits and hands it over to Sales. Most often Sales will present the solution to overwhelmed and inexperienced customers who do not have a good decision process. This is value dilution. The result: customers only understand part of the value, and if they want to buy it will put pressure on cost, which they do understand, and drive profits down. Other outcomes often include: the customer delays their decision, allowing your competitor to get traction, or the result is “no decision” – not for you or for your competitors.
Prime Resource Group helps its clients quantify and measure unique competitive value and execute a value strategy with a comprehensive, end-to-end, Diagnostic Business Development® methodology, all supported by highly sophisticated tools, reinforcement programs, and an exceptional team of management consultants.