Sales & Marketing
Solution Selling
By Kevin Hood
Solution selling is a very simple proposition and is based on WIIFM (what's in it for me) or, in other words, how does your technology solve the prospect's specific business problems. Where some new technology may seem very complicated to a prospective client - a solution selling approach is clear as to what the value is of implementing the technology. You will be selling your products and services based on value rather than features & price.
To define value from the customer's perspective, focus on the key customer objectives that your technical solutions help or solve, such as:
- Increases their customer satisfaction
- Reduces their costs
- Increases their revenue
The key is to do your research on a prospect and identify the solution or benefit that your technology provides to the individual, to the organization and possibly to their customers and/or stakeholders. Once you have defined this value - it should be focused into a "90 Second Value Proposition" that becomes the key to all initial communications with prospects. An example follows:
- Introduction
- Confirm their objective
- Reference your knowledge of their specific pain or other company's pain
- Refer to the benefits your solution has brought to those examples
- If we could do this for you would it be of value
- Ask for their commitment and plan next steps for meeting
It is the beginning of a structured approach (or methodology) that requires the prospect to be engaged with you in the sales process because you both agree on the needed results and value.
In other words, if you get the prospect to agree on the results and value that your technical solution provides - they will likely invest their time and effort in the sales process with you. That will make it much easier to sell the technology that provides the solution!
Recently we completed the first Tech Sales Training Program in conjunction with Communitech and the Schlegel Centre at Wilfrid Laurier University. Twenty-five participants ranging from sales reps to company owners went through a comprehensive step by step approach to successfully selling technology. Based on comments and survey responses from these participants, the eight-part program was a success. That success was measured by the changes in sales approach and sales activities that participants made as a result of their participation in the program. One major change in approach for many was a focus on selling solutions rather than features & price.
This article was prepared by Kevin Hood of Market Access Corporation www.mktaccess.com based on content from the Tech Sales Training Program. Kevin Hood and Rod Foster (rfoster@covarity.com) developed the eight-part "Tech Sales" training program. For more information on the next program or how to have the program delivered in-house, please contact kevinhood@mktaccess.com or 519-885-8766.
