If All You Want Is New Customers, Show Them Your MVP
Are you a good technology company with great services, but can’t get enough new customers to grow your business? Have you run out of friends, ideas and contacts? Have you turned over your sales department and sales manager, and very little changed? Does your sales process consist of begging for a no-cost “show and tell meeting” followed by praying, pleading and ‘please? “
If you’re suffering from poor sales, the challenge isn’t new customers, it’s interest! If you can’t get your prospect’s interest, you can’t get their business.
You can’t catch a fish with a hook. There isn’t enough differentiation in technology services, or the prospect’s understanding of your services, to create demand. Technology companies should not describe their services, but rather show what their services can do for their prospect’s bottom line: the monetized value proposition (MVP). That’s interesting!
Your MVP is not what you do, it’s what your service does for your prospect’s bottom line. If you don’t know what your services can do for your prospect’s bottom line, neither do they. Why would a prospect buy technology they didn’t understand they needed?
Success starts at the beginning. The MVP shows the prospect what you can do for their bottom line first, so they will listen to your how. The MVP drives interest based on the impact your services may have on their business. Your MVP gives your prospects a personal value that motivates them to buy; delivering hot leads for more business more often. If you’re not leading with your MVP, you’re missing the point.
Good technology companies must show their MVP to grow their business because if you can’t get new customers, you end up keeping poor ones.
How many new customers are you missing by missing your MVP?
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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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