214-207-4249 | Influencing Strategic Thinking steague@resourcedomain.com
Select Page

Monetized Value Proposition  

To sell technology its more important to be interesting than accurate.

Determine MVP

In 2019 Todd B Kashdan, Ph.D. Clinical Psychologist and other noted scientist released their research on Curiosity in The Five-Dimensional Curiosity Scale and Identifying 4 Unique Subgroups of Curios People.

Dr. Kashdan’s research affirms that Curiosity demand enhancement strategies, like Bait Marketing with a interesting monetized value proposition (MVP), can be especially effective to sell technology services

The 3 elements that make up curiosity are simultaneous interest, and warranted attention and attraction.

Curiosity is about seeking information and experiences through self-directed behavior.  I. e. curiosity can do the prospecting, qualifying, contact, scheduling, and presales for you!

Bait Marketing is an inbound sales strategy that eliminates the need for prospecting and replaces it with predictable curious interest behavior.   

Curiosity is the key to constant growth regardless of industry or buyer.  When you hold a prospect’s curiosity you can influence their behavior to recognize a need for your product or service.  If you need attention to sell your product or service curiosity motivates behavior.  

How does the MVP relate to curiosity?  The MVP is a derived number expressed in dollars indicating positive revenue and cost reduction changes to a Prospect’s bottom line through the implementation of your technology service. 

 

Use MVP as bait

For instance, your MVP maps to your prospect’s fundamental business drivers for more cash, customers, and credit to grow his company.  Your MVP creates interest value “bait in the mind of the buyer of how he can have more cash, customers, and credit.

MVP meets the two requirements of Curiosity; interest and warranted attention because the MVP represents both interests (financial) and warranted attention (genuine company value) as Curios Interest value.

MVP shows the prospect what you can do for their bottom line and is used for Bait Marketing where the bait is cast near the target customer to lure the prospect to take the bait for more cash, customers, and credit, which are too valuable for non-technical buyers to ignore.

why companies purchase

Because people are naturally Curious about that which interests them; your MVP creates a paradigm shift away from “pushing information to Prospects who didn’t ask for your information, or probably don’t want it or have read it,  to Prospects “pulling information from you by giving them a lucrative reason to convert and contact you.

The MVP also provides virtual merchandising to showcase your samples, examples, and thought leader concepts that create a trusted adviser relationship that your prospects will rely on and come back to in the future if not an immediate buyer.

     “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