Put your prospects in PAIN

The dance of marketer/prospect mostly involves the salesperson MOVING TOWARD the prospect looking for an opening to push their product or service. Unfortunately this creates repulsion rather than attraction. While there are exceptions where chemistry is strong, often times, the more we move toward the prospect, the more uncomfortable they get and MOVE AWAY from us.

Again the focus should NOT be to talk about our company, product or service but rather ask genuine, creative questions about the prospect’s experiences, feelings and vision of the future. The only way to incite change is by getting the prospect to realize, of their own volition, that their current solution or current collection of possible solutions are inadequate for their very specialized needs. When this occurs the prospect will begin to move toward us rather than away from us. This is what is meant by creating attraction. It is not an OVERT thing that we do but rather a COVERT realization in the mind of the customer.

Here are some questions that can allow us to create PAIN in the mind of the prospect without making them feel we are trying to move in on their space:

1. What are some of the solutions that you have already tried?
2. How did they work?
3. What kept them from being the most effective solution?
4. What were they missing?
5. How will you avoid this from happening again in the future?
6. What is it that most of the vendors that you speak with just don’t get?
7. Why are your needs so “specialized?”
8. What would happen if you cannot get this project properly completed in time?
9. What happened last time?
10. What is the cost of staying with your current solutions?
11. What do you like most about your current vendors?
12. If there was one thing that you could change about them what would it be?

There are many other PAIN questions that we can create. Think of a few and share them with your colleagues. Ask these questions of your existing clients and prospects and see the PAIN you force them to face, and then help them resolve those issues. Let me know how it goes.

Be well and enjoy success this week.

-Mark Deo

We Fall For It Every Time

In this difficult economy everybody is looking for a bargain. That’s why we have to seriously entertain reducing our prices in order to compete effectively. Right?
WRONG! We fall for it every time.

If you are a finding that you clients are putting more and more pressure on your firm to reduce prices then it’s about time you change your clients! That’s right often times price erosion is not so much a problem with your pricing strategy or product selection or service but rather your customer profile.

Continually reducing our price is like prostitution. WE can never become cheap enough. In fact the cheaper we get, the less valuable we are perceived.

I encourage you to look at your customer pool and begin to segment them not so much by demography or psychographics but by “value perception.” Do you understand why those specific customers are “willing to pay more?” What is it that they value that the “price-oriented” customer do NOT value? Why? Then you can create a NEW customer profile and focus on those clients that find great value in your product or service. Perhaps you can even discover a way to create evangelists who trumpet this value claim.

I encourage you to check out this brief video of a seminar where I discuss price sensitivity and what you can do about it.