DITCH THE ELEVATOR SPEECH, By Scott Jenkins, Quench

How many times have you been in a meeting and the person chairing that meeting asks people to introduce themselves and tell the group what they do? The dreaded elevator speech! At some point during those  introductions, these speeches blur together and start to sound the same. It becomes virtually impossible to derive any meaning from the vapid descriptions of what each person does for a living. When you’re attending a networking event or a conference, you have to arm yourself with a short narrative about your business; but that spiel will often work against you if you use it in a sales meeting.

Chances are good that if buyers hear that your company ‘‘Helps you do more with less!’’ or that you ‘‘On average, help organisations reduce indirect costs by 30%,’’ you can bet the question rolling around in their heads is, ‘‘What time is this meeting supposed to end?’’ Not only that, once you’ve hooked someone with your  elevator speech (as experts advise you to do), continuing in that vein diverts attention away from where it should

be—on the client’s issue or problem.

Even though a short elevator speech may seem harmless, it often delays a client conversation from getting to the point. So, if you really do help organisations reduce their costs, be specific when buyers ask about that service. You could use the first 20 seconds of an introduction to communicate how you assist organisations grow reduce those indirect costs through better invoice processing and ordering processes, for example. Then immediately shift the conversation to the client by asking what you can do for the organisation.

When introducing yourself to buyers, base what you say on what you know about their organisation and their issues. If you are aware that a buyer has concerns about lengthy ordering process with their existing supplier , you should emphasise that subject in your introduction instead of trying to dazzle with a witty elevator speech.

The snappy pitch may work well for some businesses—retailers, for instance. A florist who is ‘‘Making the world greener, one plant at a time,’’ may draw customers with that line. But the canned elevator speech doesn't work as advertised with services buyers, so spend your time preparing a custom introduction for each meeting.

Growing a Business Organically: ITS INSIGHTS AND CAPABILITIES, NOT RELATIONSHIPS T...

Growing a Business Organically: ITS INSIGHTS AND CAPABILITIES, NOT RELATIONSHIPS T...: "Duh! Ministry of the bleeding obvious – “a strong client relationship is important to the services sale” Everyone knows that it’s more com..."

ITS INSIGHTS AND CAPABILITIES, NOT RELATIONSHIPS THAT CLOSE SALES - By Scott Jenkins, Quench

Duh! Ministry of the bleeding obvious – “a strong client relationship is important to the services sale”

Everyone knows that it’s more comfortable, to buy from someone you know and trust and its not without its benefits. However it’s easy to overestimate the power of those relationships, especially when it comes to selling services. The days of clients automatically handing work to their favourites are long gone my friend! Even a long, long client relationship doesn’t earn you a free pass, and neither should it!

Overestimating the influence of a client relationship can lead to complacency and a severe lack of drive and determination you used to start that relationship. Maybe the client returns your calls immediately and gives you an audience whenever you like. However, that level of access should encourage you to work even harder to make an impact. Some service providers check in with their top clients and use the time for informal conversations about the client’s issues. If you’re not ready to give your client two or three items of value for everything they share with you, that relationship will eventually die a death.

Think about the first three meetings you had with your best client. I bet that you prepared with intensity and looked for ways to bring original ideas your client could use. That’s the behaviour that got your relationship moving, and that’s what will nurture it. Remember, the value of the relationship to the client lies in your ability to integrate your past experiences and your creativity to generate insightful guidance. Assume that the client holds you to a higher standard of performance than a new competitor, and you’ll keep the relationship vibrant. Building relationships of mutual respect with clients gives any service provider an edge—if you take care of the relationship. But relationships only carry you so far. They may open doors for you, but don’t assume that past client relationships will also close future sales.

VALUE IS IN THE EYE OF THE BEHOLDER - By Scott Jenkins, Quench

No matter what you believe about the value of your services, it’s the client who ultimately decides the sources of value. Some sellers are so sure of their own perceptions that they miss what’s really important to the client.

That’s what happened to John. His company assists organisations heighten security on their IT systems. His approach, was that clients dramatically improve the security at a reasonable cost, helped him generate enviable sales momentum. John was winning in the marketplace with his message. However, when he proposed his services to a long-time client, he lost the sale to a lesser-known competitor, who had proposed delivery of the service at a higher-price! The loss was confusing. John’s sales proposal was flawless, including his detailed assessment of the threat his client faced, a creative strategy for mitigating that threat, and the large sum of estimated value that the service would deliver. He reviewed his hand-delivered proposal with his client stakeholder and it was well received. John had thought everything was in place — a high-value proposal, a trusted client stakeholder, and the track record to make it all happen.

Why did he lose this seemingly sure bet? John got beaten on his analysis of value. He made a compelling case for the overall financial value, but he missed the importance of one deal-breaking detail. The client was intent on training his own staff in conducting IT security reviews, but John’s proposal made only a passing reference to that priority. His Competitor made the client’s view on that point the centrepiece of the proposal and walked away with the deal. You may think that John didn’t listen to his client and that’s why he lost. But John demonstrated that he heard the client by making reference to enabling the client’s team to become self-reliant. Unfortunately, he didn’t emphasize that enough; he stressed what he thought was more valuable, not what really mattered to the client.

You may understand how vital a credible expression of value is to winning the services sale, but keep in mind that the client is the final arbiter of value. Don’t be surprised if you see value in a completely different light than your client does. When you are trying to come up with an expression of value, rely on the facts you gather during your client meetings, and don’t let your preconceived ideas cloud your judgment. As John’s case demonstrates, a superior understanding and expression of value can oust a formidable opponent and incumbent supplier with a long-standing client relationship.