Want, Need or Required – Creating Demand for Technology.
A company’s motivation to purchase technology is found in 3 areas:
- Want- the product or service allows the prospect to exploit their advantage in the market.
- Need- the product or service allows the prospect to reduce cost or inefficiencie to remain in business.
- Required- compliance to remain operational.
Despite a company’s motivation to buy technology, the difficulty in selling technology is that most buyers are non-technical buyers (90% of the market) who are unaware of the value of technology and where to apply it to improve their business, and don’t know what clarifying questions to ask or often understand the answers they are given.
So how do you create demand with a customer that doesn’t value you? Providers must create a way for buyers to discover your value for themselves to create curiosity when value isn’t obvious to the buyer.
Providers should monetize their value proposition (MVP) to create curiosity for demand generation. Regardless of want, need or required, the prospect has to value your services to create demand for buying behavior. Your MVP is the curious value your prospects need to care that you exist for them.