Alan Weiss’s Monday Morning Memo® – 2/20/2023
In professional services marketing I believe there are three overall areas that determine the conversation with the economic buyer. (Economic buyer: That person who can unilaterally approve payment for your value. If you’re not dealing with that person then solely focus on identifying and reaching that person.)
The areas are:
What is it that is to be accomplished? These must be business outcomes, not “HR niceties.” You can “improve team communications” or “align understanding” until the cows come home and still be losing money.
Why are these outcomes important? Do they produce increased revenue, increased profit, less attrition, lower costs, greater market share, more referrals? These results are easily monetized and position your fees as producing an outstanding ROI.
How are the objectives and consequent value to be reached? This involves methodology, from backstage advising to front stage interventions. But it is the least important at the time of sale, yet many professional services providers focus on their methodology, which makes them merely a commodity and, therefore, price-sensitive. As you know, people don’t buy drills unless they need holes.
It’s really as simple as that, it isn’t stochastic, and if you don’t think it’s valuable or effective, well, I’ve made my fortune with it over three decades! Many people who provide services for you, of course—lawyers, accountants, designers, landscapers, bookkeepers, snow plowers, and so on—are charging you by the hour for their labor.
That’s fine, just don’t give them any of my books as a gift.
Sales are contingent upon the attitude of the salesperson—not the attitude of the prospect. —W. Clement Stone (This is the guy who fired me in 1985!)
You don’t need a big close, as many sales reps believe. You risk losing your customer when you save all the good stuff for the end. Keep the customer actively involved throughout your presentation, and watch your results improve. —Harvey Mackay
Stop thinking you’re trying to “take” money from someone and understand you’re actually “giving” value. Then you’ll never worry about interacting with a prospect. —Alan Weiss
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