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Ep. 24: The Value Equation: Less Is More
This Selling Essentials Minute highlights an idea from the Quick Take training program, “Resonating Focus: The Key to Creating High-Value Proposals”
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When you’re selling, the value equation is pretty simple, benefits create value and value creates sales. So, it’s stand two reasons that more benefits create more value and more sales, Right? Not necessarily!
A group of marketing professors writing in the Harvard Business Review say that too many benefits can actually hurt your chances of getting a sale, because for most buyers there are only a handful of things that are really matter maybe only one thing. The prof say you have a stronger value proposition if you built it around that one thing, they called the idea Resonating Focus, because you include only the benefits that resonate with those key goals. This laser focus eliminates the noise created by relevant, marginal, or unimportant benefits leaving behind only what the buyer needs most. Of course buyers will tell you they want the sun, moon, stars and maybe a few planets and comets thrown in and why not, what have they got to lose, but it’s up to you to priorities their wishlist. Dig deep to find out what most important to them and what they can’t live without.
Once you discover your buyer resonating focus, you’ll be in a much better position to help that buyer and yourself doing more by doing less.