- Posted by Mark Elliott
- On December 1, 2011
- 0 Comments
One of the ways to strengthen a value proposition is to use quantifiable business benefits. The reason to do this is that it helps customers and prospects understand what the actual impact could be for their organization. It is especially helpful when trying to sell to the C-Level within an organization. We have written a recent blog on selling to the C-Level. Not convinced? Which of these points sounds stronger to you?
- We helped a financial services firm increase customers and revenue
- We helped a financial services firm increase customers from 1 to 40 and more than double revenue
The second one is more powerful and it happens to be from a VA Partners success story.
If creating quantifiable benefits was easy everyone would be doing it, but it is easier than organizations think. Here are some tips to help you quantify the benefits of your solution.
Focus on the Right Metrics
Your benefits should help to support benefits for revenue, decreasing cost/expense, improving employee productivity, or avoiding something bad.
Start Tracking Things
Look at information that supports before and after. One of the metrics many companies want to track is the increase in page views. By using a simple free tool like Google analytics you can track your page views, so why not do it.
Follow-up With Customers
Sometimes you are not aware of the impact of a solution with a customer until after it is rolled out. Follow-up with your clients and work with them to help understand and quantify the benefits they have realized. Most customers are happy to do this and can use that information internally to support a successful project.
Estimate the Benefit
Sometimes it may be difficult to get an exact number for the benefit that your solution can provide. In that case use an estimate and the specific inputs. Be conservative so to better defend the solutions benefit.
The value proposition is one of the most important sales tools. Quantifying the benefits that you can provide makes it even stronger. Take the time to try and quantify as many as you can and good luck selling. For more information on sales, marketing, social media, and startup events, sign-up for our monthly newsletter.