Distribution's triple threat
Follow the rule of three's to differentiate yourself and give customers a compelling reason to buy
By Tom Reilly -- Industrial Distribution, 4/1/2002
To present a compelling reason for why the buyer should choose your alternative, practice the rule of three's: sell all three dimensions of value; have three quick and relevant benefits to present; and mind the three P's.
The three dimensions of value
Buyers purchase more than a product or service — they also get the company that supplies the product and the salesperson who sells it. These are the three dimensions of value: product, company and people. Be prepared to discuss them all with your customer.
The product offers specific features and benefits. The company offers value in many areas: depth of resources, number of locations, management philosophy and financial stability. As the salesperson, your knowledge and follow-through are important, as well. The same products, from the same company, from two different salespeople, are two different solutions.
Three quick and relevant benefits
Have three quick and relevant benefits for why the buyer should consider your alternative. Some people call this a three-minute sales pitch. When building this message, consider the three dimensions of value and offer a key benefit in each area. For example, your three-benefit sales message may sound like this:
"Our solution offers your company three important benefits. First, we have seven shipping points located strategically around your warehouses. This will cut your shipping costs in half. Second, our product has an energy monitor governor, which controls the amount of energy you need to operate it. This saves you operating costs. Third, because of our guaranteed follow-up policy, I monitor your purchase to ensure you get maximum performance and economy from our products."
The three P's
The three P's guide your longer presentations. They are: personalizing, perceived value and performance value.
- Personalize your message. Does your message reflect the buyer's definition of value? Are you acting from a customer value focus? Buyers want to feel that you understand their definition of value and have designed a solution that reflects their priorities. This is customer-oriented selling at its best.
- Maximize your perceived value. Is it sexy? Does it sizzle? These are questions to ask yourself about how your stuff looks. Perceived value is the context of your message. It influences the buyer's expectations. It gives him a warm and fuzzy feeling about your solution. To generate this feeling, every steak must sizzle . Maximizing your perceived value is a quick way to make a positive impact on your presentation.
- Demonstrate performance value. This answers the question, "Where's the beef?" Performance value is the profit impact you have on the customer's business. It's the steak behind the sizzle. While perceived value defines your style, performance value demonstrates your substance. This is the content of your message.
Buyers are bombarded with hundreds of marketing messages every day. For your message to be heard above the roar of the crowd, you must stand out. The rule of three's capitalizes on relevance and speed to get your sales message across.
| Author Information |
| Tom Reilly is president of Tom Reilly Training, a St. Louis-based firm specializing in training salespeople and sales managers. You can reach Tom at 636-537-3360 or visit his Web site: www.tomreillytraining.com |
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