Bait Marketing With MVP Advantages
A company’s motivation to purchase technology is generally found in 3 areas:
- Want: the product or service allows the prospect to exploit advantages in the market
- Need: the product or service allows the prospect to reduce cost or increase efficiencies
- Required: compliance is required to remain in business
Despite the company’s motivation, the difficulty in selling technology is that most technology buyers are non-technical buyers and are unsure of where and how to apply technology to improve their business, don’t know what clarifying questions to ask, and often don’t understand the answers they’re given.
Non-technical buyers operate in 3 areas and are only slightly aware of the value of technology to improve their business:
- Looking: for tactical solutions
- Listening: to leaders
- Learning: interested in strategic impact
Prospects need to know what the technology product or service will do for their business first (your monetized value proposition – MVP) before they care how your products or services are made or designed.
Technology companies should not explain how their technology works, but rather show the monetize value proposition of their service or products to improve their prospect’s company, and by how much, giving the prospect a reason to care!
MONETIZED VALUE PROPOSITION (MVP) BAIT MARKETING ADVANTAGES
Step Stage Behavior Cost Element
1 SEO Cultivate Interest Marketing
2 Social Media Circulate Bait Marketing
3 Email Cast Bait to Target Customers Marketing
4 Sales Prospect Initiates Presentation Time in Salary
Results:
- Provides hot leads that buy sooner and more often
- Prequalifies prospects by showing them a predetermined value
- Merchandizes your bait by presenting samples, examples, demonstrations, and results – before the selling process begins
- Hits on all 3 buying areas: as a tactical expressions, leadership insights, and makes a financial impact
- Is independent, nonintrusive, scalable, personal, and persistent
- Differentiates you from competitors without a demonstrable value proposition
- Is much more efficient and affordable than direct prospecting or sales can be
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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.
#tseanteague #resourcedomain #informationeverywhereaccessanywhere