White Paper

Copyright © Mercuri International UK

Understand the new realityThe limitless availability of information means that B2B buyer behaviour is changing rapidly, mirroring that seen in retail consumers. They will investigate different suppliers and products, often forming an entrenched view about how much they should pay, before engaging with any potential suppliers. The sales professional is no longer the ‘guru’ of knowledge and information about their product or service, it is now available online to all. The ease of accessing this information also means that customers can easily ask more of their people to participate in a purchasing decision, thus being seen to be more inclusive and democratic when significant investments need to be made.This initial research and evaluation phase is increasingly followed by a more formal RFP or RFQ process leaving suppliers forced to answer a narrow, often technically focused, brief.

There is limited or no opportunity to be innovative or creative with seemingly no alternative than a ‘me too’ approach. All of this means that even complex products and services risk being commoditized unless the sales professional changes the way they engage with their customers.The first step is early, high and wide, engagement. The individual decision makers and influencers need to be found - social media helps here of course. Their buying motives need to be explored and understood – ideally as soon as a need is triggered but certainly before an RFP or RFQ is issued. This vital information can then be used to create an offer which is specific to the customer and which meets the needs of individual stakeholders, articulating the value to be delivered in their own terms.

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Mercuri International

Before you present your solution to your customer, you must know the answers to these questions :What is our customer trying to do?How does this customer measure value?What impact do we have on their business?Can we quantify the value we provide?

“Know what your customers want most and what your

company does best. Focus on where those two meet.”

Kevin StirtzAuthor of ‘More Loyal Customers &

Marketing for Smart People’

FINDING THE VALUE IN SELLINGIn highly competitive markets, with customers more informed and independent than ever, differentiation is critical. Here, we consider the advantages of using a Customer Specific Value Proposition.

mercuri.co.uk | Phone: +44 07725 955171| E-mail: iain-Harvey@mercuri.co.uk

White Paper

Copyright © Mercuri International UK

Build a clear, tailored value proposition“Financial Times (www.ft.com) defines a value proposition as “The benefits that a product or service provides to customers, especially by being different to or better than a competitor's products or services.”If that is the end goal then we need a structure to support it. Value Proposition tools and models can vary tremendously but most follow a similar pattern: A benefit by definition tangibly improves a current situation. Therefore we first need to understand what that current situation is, why it needs to improve and what impact that improvement will have.Only then should we start to construct our solution which must be 100% focused on delivering the desired improvement discovered earlier. Finally we pull from our solution any competitive advantages and put these front and centre when presenting our offer.

During our discussions, we need to find out how our customers define value i.e. is it in terms of improvement in revenue and/or reduction in cost? Do they look for better productivity, customer satisfaction maybe? Perhaps success to them comes from increased market share or industry recognition? However they express it, we need to use the same measures and deliver them from our solution. In other words, we need a clear and explicit connection between: Their challenges, and objectives Our offer Our advantages The quantifiable value being delivered

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Mercuri International

Change the way you sell – 4 Key Rules1. Be a partner, not a vendor. Move away from transactional selling and product pushing to focus on how your solutions will have a strategic impact on your customer’s business. Base this on a detailed understanding of their world.2. Move high, wide and early. Include a broad group of stakeholders in your relationship. Understand how your customers make strategic purchasing decisions and engage with decision influencers, as well as those who sign the P.O.s.

3. Make sure the customer knows their ‘WIIFM’ (‘What’s In It For Me?’). Technical features are not enough. Make sure each stakeholder knows how they, their department and their business will tangibly benefit from buying your solution.4. Express the difference. Don’t settle for a ‘me too’ offer – your customers won’t. Be clear and confident about your competitive advantages and make sure your customer understand and values them!

mercuri.co.uk | Phone: +44 07725 955171| E-mail: iain-Harvey@mercuri.co.uk

What should you do now?There are two things you should do now to ensure your sales professionals are using customer specific value propositions and are therefore equipped to sell value in today’s marketplace:

1. Assess their capability – use a recognised tool and/or observe them in action. Based on what you discover……2. Put in place a relevant development plan – give them the tools and skills to do their job!