Customers only buy when they perceive the value of what they are buying is worth more than the price they are being asked to pay. Rather than use broad and ambiguous terms, give your customers real numbers by dollarizing the benefits they will receive. Make it easy for your customer to do business with you. Follow these steps:
Customer buy when they believe the value of what they are receiving is more than the price they are asked to pay. So make it easy for your customer to understand what value they are receiving. Dollarize the benefit. Use real numbers.
a) Know who your customer is. What they need, what they want.
b) Identify who your competition is. You must know what you are selling against. Are you selling against an outside competitor? Or an internally developed solution? Read how here.
c) Identify your differentiating factors. Why you are compared to the competition you are facing, either inside or outside, why are you different and you must be precise.
d) State your benefits –How are those different features or factors benefit your customers.
e) Quantify your benefit. This is where you convert your words into numbers. For example:
Yield Improvement 40 more transactions per hour
Reduces downtime Saves you 30 minute a day of unplanned downtime
Better performance 3 percent gain in market share
f) Dollarize your benefit. This is where you change your result into actual dollars.
Yield Improvement 40 more transactions at avg cost of $ 100 = $ 4,000
Reduced downtime 30 minutes x 5 = 2.5 hours x 100 = 250 a week x 52 = $13 k