When selling your product, you should be able to show at least a 10x return on investment (ROI). In many cases, it should be as much as 50x–100x. The 10x rule is important because it enables the prospective customer to account for the opportunity and implementation costs of purchasing your product. Whenever a company switches […]
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Once you’ve identified what problem your product solves, companies will buy answers to those problems. Consider again the question from Clayton Christensen: “What job is your customer hiring you to do?” Executives ask themselves these questions. How can I put your product to work for my business? Why would I want to invest in your […]
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“Have you ever had a situation where you know you’re talking with the right buyer at the right company who has exactly the problem your product solves? It seems obvious that this is the right fit, but then the buyer tells you, “We have to find the budget.” That’s frustrating when you know you can […]
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This step is important, because it’s an accumulation of a few of the previous steps. By accessing your prospective customer’s data, you’ll likely need an NDA in place. This is also akin to giving the prospect homework and introducing you to additional buyers or contributors. Most likely, the person you’ll be working with directly in […]
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Early in the sales process, you’ll likely communicate rather formally with your prospect via email, and the responses might be a few days apart. Or perhaps you use email to set up the next phone call. Then that next call might be two weeks later. Overall, the communication is spaced apart and can feel a […]
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