Most people in the sales and relationship management profession believe in doing their homework about their customers and prospects. People who sell products tend to ask questions focused on the customer’s needs, while people who sell their company’s value (and solutions) ask questions about...
Tip of the Month: Translating the Business Fit - Putting it All Together
Over the past few months, we have reviewed these 4 key steps of the Translation process:
- Doing your research on the customer's business and needs
- Determining which of the customer's business objectives, strategies and/or issues you can align with to help drive critical business outcomes
- Conducting your research on the financial implications, to quantify the results you can help create
- Determining which of your assets you will leverage in driving these results
Once you've gone through these steps, it's time to put together your story. The way you tell the story - and the amount of detail you use - will determine the impact your business fit will have on the audience.
Consider these 4 different business fit "stories":
- Poor: "We will improve your safety record."
- Okay: "Together, we can improve employee safety."
- Better: "Working together, we can improve employee safety by implementing a production system complete with state-of-the-art safety training."
- Best: "In addition to implementing a superior production system, we believe that by working together, we can leverage best practices gained through experience with market leaders across multiple industries, driving down lost time accidents by up to 60%. Combining the savings associated with reducing lost time accidents along with the corresponding savings in worker's compensation and health insurance premiums, we estimate that we can drive cost savings of an estimated $4.6 million per year, while also generating an increase in employee satisfaction scores."
The equation is straightforward - the better our research and the more specific our business fit, the more inspiring our story. The more inspiring our story, the more value we bring (and the less important minor pricing differences are). When this happens, it's increasingly likely that decision makers looking to drive critical results will choose to work with us.
That's the value of translating a great business fit!