It's true, and often said, that in any area of sales one should always tailor their sales tactics to suit the buyer – but that’s easier said than done. It can get extremely difficult when pitching more expensive solutions such as those based in technology, to companies where multiple people are probably involved in the purchasing process. Sure, a good salesperson can get the person on the phone onboard with the purchase – but what about that buyer’s boss? Or their CFO? Or anyone else who also has to agree to buy?
We’ve partnered with SiriusDecisions in the past and keep an eye on their blog, so we were thrilled when we came across this article all about successfully justifying technology purchases. Turned around a bit, it can also be an excellent guide to your ecosystem’s sales staff on how to help their point-of-contact make the sale happen!
Crafting Product Pitches That Make Life Easier For Buyers
According to SiriusDecisions’ research, the matter of justifying a purchase boils down to two key questions: “Why this solution?” and “Why now?”
The first question is the one most partner sales staff would already be familiar with. It’s the foundation for pretty much any sales pitch. However, the article hints at some twists on the formula which can help specifically reduce problems getting multiple people within a company onboard.
- Learn whether the buyer’s interest is based on wants or on needs. This would, for example, be the difference between investing in a solution to improve efficiency versus investing because new regulations mandate investment. Tailor the pitch accordingly.
- Be very familiar with other competing solutions on the market, and be able to articulate clearly what makes yours best – particularly if yours is not the cheapest.
- If possible, research the buyer’s own industry and what solutions are already in place at their competitors. Use this to shape the argument.
- Don’t focus solely on functionality. Provide your buyer-contact with multiple lines of attack, such as how the solution might improve efficiency, reduce manhours, or provide other secondary or tertiary benefits.
The second question - “Why now?” can be the real deal-killer. Your sales reps could fully convince the person on the phone that your solution is awesome, only for them to hear “well, maybe next year” from their budget officer. Make sure your reps are putting a strong time focus into their arguments.
- If the investment is driven by needs such as regulation, emphasize the importance of not putting off compliance until the last minute.
- Talk about features your product has that your competition won’t have for months, if ever. (ie, “there’s no point waiting for the other guys to innovate.”)
- Use that research on your buyers’ competition to your advantage. Focus on the technological advantage the competition has, and how your solution will level the playing field.
- Emphasize the ongoing opportunity costs of not embracing your solution.
Once your sales reps have gotten the buyer-contact on their side, they should make the rest of the sales process feel like a cooperative venture. They should try to build a sense of camaraderie, providing support and “ammunition” to their contact which will help convince others in the purchasing organization. This helps to prevent lost sales, and will also build a strong bond between buyer and seller which will likely persist into the future.
Keep Your Sales Reps On The Same Page With LogicBay
Having consistency in sales tactics across your ecosystem can be a major challenge, but LogicBay's Channel Profit Center makes it a lot easier! Contact us today to learn more about how LogicBay’s solutions can simplify sales training, onboarding, and ongoing education.