Is Your Sales Team Bridging The Value Gap?
If you are a sales leader, I am sure you are hearing a lot of these from your sellers right now.
“Clients are indecisive. They can’t make up their mind. They are not ready for cloud”.
“I have qualified the deal but client stakeholders are not moving the opportunity. Analytics is not top priority”.
“I thought they wanted sales force automation. Got the right signals. But now it’s dragging beyond reasons I can’t fathom”.
I often hear salespeople and sales leaders express their frustration with not getting deals closed or their inability to get prospects to move through the sales cycle.
Deals get stuck for lots of reasons, one of the big ones is because no one is finding the value gap or measuring the gap. If clients are not able to experience the ‘value gap‘ between the place they currently are and the place they want to go, there is no incentive for a change.
It does not matter if you are selling Analytics, a new transaction platform, digital stack, a version of cloud technology or state of the art Cognitive AI.
If you miss the value gap, technology is just a moot point.
The value gap influences everything. The bigger the gap the greater the return. Big gaps can also mean greater complexity, more change, and more money. The smaller the gap, the smaller the return.
Whether customers or prospects are aware or not, the gap plays a heavy role in their decision to buy or not, as well as how they buy. Do they move quickly or slowly? Do they get a lot of people involved or no one involved? The value gap can’t be ignored.
To identify the value gap requires a solid understanding of where the customer is today,
- What is their current state?
- What are the current frustrations?
- What are they doing now?
- Why they do them that way?
- What the current outcomes are
- What is the impact to the organization?
- Who is affected
The next part is to understand where they want to go tomorrow,
- Where do they want to go/be?
- How should their tomorrow be?
- What should they be doing tomorrow?
- Why do they want to do them that way?
- What are the new expected outcomes?
- Whats the new impact to the organization?
- Who benefits?
In fact, the value gap should be addressed as part of your go-to-market strategy where you clearly identify the value perception of your customer segment and incorporate in your product roadmap and marketing messages as well.
When you’re selling, your team should focus on the value gap and target the impact. The value gap is what influences how people buy. The value gap creates the baseline or the comparison from what we have to today to what we’ll have tomorrow.
Is your sales team trained to dig deep and discover value gaps? Do you zone in on value gaps in your cadence meetings? Are you finding ways to bring the value gaps and make it part of your win plans?
If not, do it right away. Else your deals will stall in the pipe and might not even move forward an inch.