A client of ours recently landed a multi-year retainer deal securing over $1 million in revenue. Find out how you can do the same.
At the beginning of our collaboration, we had our client go through the sales enablement conversation. The goal was to help the client understand how to position their agency better.
Also, we wanted to help them set contract and proposal procedures more appropriately. And that involved going through the client’s capabilities and proposal presentation in detail.
After our conversation, the client was able to position their value proposition to the target audience. And the results were terrific!
Find out how businesses like yours can further their value proposition today.
They were able to close a significant number of clients based on what was discussed during our conversation.
And after going through our Vision Workshop, where we defined the client’s goals and a couple of conversations, their multi-year retainer deal came through.
One thing that’s noteworthy here is that we started working with this client only about 40 days ago.
But why is this important?
It’s proof that it doesn’t have to be long before you can effectively communicate value to your prospective clients.
The point is that the way you run your business impacts how you present value to your clients. Do this the right way and you’ll be surprised by the returns.
4 Tips for Communicating Your Value to Prospects
Tip #1 - Understand Their Pain Points and Prepare to Solve Them
If you are to improve your value proposition, it’s critical to understand your clients inside and out. This means you need to know their goals, challenges, and fears. The same goes for the prospects’ pain points, which should be the problems you’re trying to solve.
You should never assume the prospects’ problems. Instead, feel free to ask about the issues they’re experiencing and how these pain points affect their operations.
Depending on your niche, you can survey the prospects directly or use online questionnaires to gauge what’s burdening them. Either way, the benefits for you are immense.
First of all, this lets you be well-prepared to answer client objections even before they ask them. It would be much easier for you to create a buyer persona, which should outline everything about your ideal client.
Armed with that knowledge, you’ll be able to create a value proposition that corresponds to your target avatar. And it will be unique in the sense that it addresses exactly what your prospects need and want.
Tip #2 - Let the Prospect Speak
Great listening skills and allowing your clients to speak are among the most common business tips. And yes, listening to their needs gives you a clear idea of how you can help. Plus, it builds trust and rapport.
But what does it actually mean to listen to your prospects?
For one, it’s not just hearing what the prospects have to say about their pain points. As indicated, you’ve got to know their goals and why they want to achieve them.
Consequently, you’ll get a better idea of the prospects’ value system, which should inform your value proposition.
Keep in mind that letting your prospects speak is also about asking the right questions.
In fact, the better your questions are during a sales call or conversation, the more value you’ll be able to communicate. The answers you get will give you a chance to see points of improvement your prospects might have missed.
And when you get the prospects to think differently about the challenges that limit their progress, your prospects will find it much easier to understand your value proposition.
Tip #3 - Be Honest and Transparent
Never promise something you can’t deliver. In fact, it’s better to under-promise and over-deliver. Just imagine what would happen to your relationship if you let them down.
As for transparency, the rule is that you shouldn’t sugarcoat the situation. Present the case as it is - it doesn’t matter if it’s bad news. Your clients need to have a clear picture of what’s going on or they might not grasp the gravity of their problem.
Transparency is important for two reasons.
One, you’re accountable for your clients’ outcomes. You shouldn’t forget that your client’s money is involved. So, it’s critical to let clients know what’s working and what isn’t.
Next, transparency allows for greater security down the line. When something bad happens, it will come back to the accountable person. So you need to be as open as possible, even if you make a mistake.
Tip #4 - Leverage Future Pacing
Put your prospects in a situation where they can imagine the future with and without the solution to their problems. Understanding what could happen without your help will make the prospects realize the pitfalls of not doing business with you.
Now, the challenge lies in how to outpace your competition that may offer cheaper pricing for the same service.
The whole idea behind communicating value is to highlight the benefits of working with you compared to the competition. But this is often not easy to do.
So, you shouldn’t hesitate to challenge your client by outlining the risks of choosing the cheaper option. That said, it’s not uncommon to face rejection when you do that.
In the face of rejection, it’s vital not to get defensive. Just follow up with something like:
“Have you ever purchased a cheap service and found out that it’s costing you much more in the long run?”
By doing that, you’re helping the prospect realize that potential fixes that may be required down the line could be much more expensive compared to the cost of your service.
Value Above All Else
Communicating value to prospective clients isn’t that hard.
The first step is to have a complete understanding of your client’s current position and what they want to achieve. Then, it’s vital to communicate with them the right way. As you now know, this is about asking the right questions and having an ear for their feedback.
You also need to present clients with a vision of a future and help them figure out how much you can help. But remember, you don’t want to embellish. Honesty and transparency are crucial for your success in the long run.
If you want to know more about communicating value, schedule your triage call here.
