The Value Conversation
The Q2C Selling conversations allow you to build a framework throughout your sales process. Q2C Selling is a method to prepare your appointments better, master your sales cycle and sell more and faster. The value conversation is the fifth step of the qualification process.
In this article, find the definition and the interest of the value conversation and discover how to structure it efficiently. At the end of the article, discover the cards associated with this conversation and use them to set up your deck in Sales Deck. Choose the cards that work for you and customize them to your offer and prospects.
To discover more about conversations and their successful implementation, we invite you to download extract from our book Q2C Selling, written by Gabriel Dabi Schwebel and Nicolas Delignières.
What is the Value Conversation?
To deepen the qualification, you need to understand the prospect’s problem’s financial impact and value. This is crucial because it will directly impact the budget they are willing to spend on it and its criticality. A problem whose costs are poorly identified can wait, but not one that we know will cost us a lot of money.
Discussing the value is not the same as Asking about the Budget
Be careful not to take shortcuts: the budget can emerge from this conversation, especially when the client has not yet decided. The objective of this conversation is to understand the cost of the problem to the company and make the customer realize it at the same time.
If the customer does not have a budget in mind, this will quickly give you an idea of the reasonable investment (20% of the cost, for example, for an ROI of 5).
Is Everything Quantifiable with Precision?
Many problems can be analyzed with almost accounting precision to estimate the cost of not solving the problem. But sometimes, it is more complicated than that. Don’t insist, and don’t force a cost analysis that won’t convince anyone.
That doesn’t mean you can’t estimate the value. A lack of cost does not necessarily mean that solving the problem will not bring additional value, so take the conversation into the future.
- What information do you get from the value conversation?
- The goal of the prospect’s company/environment
Sometimes your prospect’s goals are different from their company/environment. It’s beneficial to know both and address them to make your sale successful.
Of course, the value conversation is an excellent way to bring up the budget, especially if the prospect has not yet indicated a budget for their purchase. It is then the value conversation that will allow you to understand the acceptable price for your solution.
The prospect’s objective
Of course, when discussing value, the prospect’s objectives will emerge—goals such as reducing costs or increasing revenue. In the prospect’s case, it is the achievement of the objectives that have been set for them if they are not the manager, for example.
The Cards Associated with the Value Conversation
You understand the principle and interest of the value conversation but don’t know how to apply it in practice? Here are the cards that will be very useful to structure your conversation and set up your Deck in Sales Deck. You are free to keep the cards that suit you and change the order in which you use them.
The Financial Impact of the Problem
What is the cost of not solving this problem for your prospect’s company? Understand the financial impact and the value of the prospect’s problem. This is critical because it will directly impact the budget your prospect is willing to spend on it and its criticality.
The Story of the Hare and the Tortoise
There are two types of prospects, those who feel like a hare and those who feel like a tortoise. Both have beliefs that will limit their ability to act and invest. Deal with them with this story. Make a direct comparison of your prospect to the story of the tortoise and the hare. Or build a story about how one of your customers, who was a hare or a tortoise, worked with you to win the race!
The Deal with the Devil
It is often difficult for your prospect to assess the actual value of his problem, and he will sometimes want to minimize it. There is a funny trick.
To make your prospect aware of the value of his problem. This is particularly effective with business leaders and, more generally, with options with a strong competitive spirit.
Ask your prospect what he would do if one of his competitors offered him a check to forgo dealing with this problem for 3 years. How much would he accept? This amuses the prospect, and the surprise leads to honesty. On the other hand, the amount is almost irrelevant; it is rarely specific. Your prospect will probably tell you that they will refuse the proposal.
Then tell him that this is money that his competitor cannot invest in other strategies. Do you think it’s that valuable? This technique allows your prospect to project two key elements to increase the value of the problem in his eyes: the solution’s renunciation and the advantage taken by his competitors.
Of course, you may be told that a competitor would never make this kind of offer. Still, the answer here is straightforward: “Of course, it is much more profitable to use this money to invest in the solution to the problem rather than to prevent competitors from doing so.”
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