Technology is Good – And Good For You
Technology is good.
Technology is responsible for improving business and the lives of countless people by delivering improvements that are realized through better health, greater access, more customers, and increased convenience; saving time, money, or both!
New technology, when selected properly and implemented correctly, will have an immediate improvement over the technology it replaces. The improvement is either increased revenue, increased production potential, increased efficiency, or reducing cost. Or all of the above! Improving business in measurable ways is technology’s value proposition.
As a purveyor of technology, you have a responsibility to inform your target market of the “good” for technology to improve their business, and by where and how much. This “good” is your monetized value proposition (MVP) and the reason you are in business for your target market: to improve their business!
The difficulty in selling technology is that most technology buyers are non-technical buyers and are unsure of where and how technology will improve their position, and don’t know what clarifying questions to ask, or often understand the answers they’re given.
Technology companies should not explain how their technology works, but rather show the monetized value of their service or products to impact their prospect’s business.
Technology companies should monetize their value proposition (MVP) to help prospects see the impact of their technology choices to win more business, more often, to do the most good.
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“Nothing happens until a sale is made.” Thomas Watson, Sr., President of IBM from 1914 to 1956, coined this expression. He knew what he was talking about. Selling technology in the first half of the twentieth century, before the moon landing in 1969, was not an easy sale to make. Companies then, like many still today, did not understand the transformational power of technology to reshape industry and company fortunes.
What is a “sale” and how is it made? A sale is made when a buyer and seller agree to exchange values. The customer’s value is revenue, but what is your value to the customer? It’s not your price.
New sales are the lifeblood of every business, but not every business knows that yet. Without predictable new sales year over year, no matter how well intended a company’s mission or goals, the company will suffer with limited growth. New sales breathe life into all other company possibilities.
How to attract new customers year over year is the seminal question every business must solve first if it wants to maximize its value proposition and reach its potential.
Technology companies must monetize their value proposition to make more business. A company’s value proposition is the monetized value of its service or product to the customer - “your value.” If you don’t know the monetized value of your value proposition to your prospect, neither does he.
Sales are the problem, sales are the answer, sales are the point. Monetize your value proposition to make more sales and grow your business at scale.
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