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Demand Creation Selling & the Cost of Saying No
Till a couple years ago, we were in a market that allowed us to be, largely, order takers, or what I call Demand Fulfillment Sellers. Now, we're in a very different business climate; one which mandates a different approach: Demand Creation.
This is TRUE selling. You have something, whether product or service, that others need and/or want. They will benefit from it. They'll enjoy it. Whatever the benefits, they have no idea what they're missing out on because they don't even know you exist.
So, to solve the problem, you market. You identify a target demographic and start sending mail, making phone calls, walking door-to-door. But you're still selling the thing, whether product or service, rather than selling the benefits of the thing. Talking about the widget's features gives the customer information.
But few of us (save a few engineers) make purchases because of facts. Most of us are making purchases based on an emotional reaction: my boss will love it that we're saving time and money with this; my spouse likes blue; our company has been looking for one of these for a long time - finally!
The bottom line: marketing and sales must be in alignment. The messaging needs to be about value derived from hard results, not a bunch of features that mean different things to different customers. The key question: What does it cost your prospect if they say "NO"? If you can't answer this question with specifics, you don't know the true value of your product/service.
Want more? Give me a call!
Brad Moore
Sales Acceleration Coach
3:17 Consulting Services
951.220.7167
This is TRUE selling. You have something, whether product or service, that others need and/or want. They will benefit from it. They'll enjoy it. Whatever the benefits, they have no idea what they're missing out on because they don't even know you exist.
So, to solve the problem, you market. You identify a target demographic and start sending mail, making phone calls, walking door-to-door. But you're still selling the thing, whether product or service, rather than selling the benefits of the thing. Talking about the widget's features gives the customer information.
But few of us (save a few engineers) make purchases because of facts. Most of us are making purchases based on an emotional reaction: my boss will love it that we're saving time and money with this; my spouse likes blue; our company has been looking for one of these for a long time - finally!
The bottom line: marketing and sales must be in alignment. The messaging needs to be about value derived from hard results, not a bunch of features that mean different things to different customers. The key question: What does it cost your prospect if they say "NO"? If you can't answer this question with specifics, you don't know the true value of your product/service.
Want more? Give me a call!
Brad Moore
Sales Acceleration Coach
3:17 Consulting Services
951.220.7167
Tags: benefits, creation, demand, fulfillment, marketing, results, sales, selling, value
Replies to This Discussion
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Permalink Reply by Phillip Hoyt on -
Brad
While yes the benifit is the true cost savings.
The sizzle not the steak but when given 30 seconds to give your schpeal you cant make them understand?
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Permalink Reply by Brad Moore on -
Ahh, the elevator pitch... We all have to have something to give folks when we have a brief window of opportunity.
I simply suggest that there must be something in that message that is substantive, some promise of value, so that the window of opportunity then opens ever-wider. If cost savings is your only benefit, you might want to take a look at the product/service you sell - what else can you hang your hat on? Take a long hard look at the answer to what it costs your customers to say 'No' to you.
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Permalink Reply by Kerry Martin-Moore on -
I spoke with a company on Monday who expressed just this specific need. They indicated that prior to 2008, most of their sales team had become "happy" in just doing business as usual. Some growth, but the profits didn't necessitate huge growth targets, so they were pacified with their $150k all in earnings. Today, however, their laziness is truly showing in the company's downward spiral of sales revenues, and also losing significant market share to previously unbeknownst competitors. Sales reps are unhappy as their income is down, and they are pointing fingers at marketing, finance, engineering, etc.
They are considering tons of options to motivate their team. Change comp plan? replace team members? small perks or take away toys? Basically, the goal is not to shut down the division or reduce headcount, but something's gotta give.
What kinds of things would they need in order to change the mindset and help their team grow back into the powerhouse they were just 2 years ago?
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Permalink Reply by Brad Moore on
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Sounds like someone's complacency has cost them market share, the respect of their customers, and now the respect of the employees as well. Never a good sign when the finger-pointing begins.
Motivation is only part of the equation. There is also a huge question of whether the DNA of those sales people is conducive to the "hunter" style that's required in the demand creation world we now live in. We can't change this DNA, but can help them to compete more often by improving front end sales process that gets the sales force in front of more prospects.
It sounds like the salespeople never had to compete for business before; now, everyone in the market is fighting tooth and nail for every dime, and the successful salesperson (and company) is the one who is willing to:
* risk failure
* do things that make them uncomfortable
* hear "no" more often than ever
The bottom line: compete more often, win more often - even without improving skills or closing ratios. Start there, and see where it takes you!
Much success,
Brad
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