Failure to uncover how this product fits a customer’s true business drivers will greatly reduce the odds of completing the transaction in a timely manner. A customer nearly always must connect your product to at least one big picture business driver or business need for you to complete the sale.
Steps to Take:
1. At the initial customer meeting, skillful questioning based on prior research provides the basis for uncovering big picture drivers.
2. Public companies and government agencies often share strategies and major initiatives on their websites and within press releases.
3. It can be even more difficult to uncover business drivers for a private company.
4. Smart sellers use a customer’s competitors as a means of research. For example, you might ask, “We understand that your competitors X and Y are both looking at approach Z. What approach are YOU taking to address the issue?”
5. Customers often like to discuss competitive challenges. When you are not sure of big picture drivers, give the customer a chance to talk about how they are handling their competitor’s moves.