Establish Your Value Proposition: The Four Reasons Why Companies Buy
There’s a quote from Lord Kelvin, a nineteenth-century physicist and mathematician. He said, “When you can measure what you are speaking about, and express it in numbers, you know something about it.”
I always refer to this quote in my workshops, because when we’re talking about why customers buy, we need to articulate the benefits or the outcomes for our clients using numbers. In sales speak, these are called value propositions.
With that as a backdrop, let’s dive into the four fundamental reasons why companies make purchasing decisions because once we (and the customer!) know exactly how the purchase will benefit the customer, we’ve created a value proposition—a specific reason to make the purchase.
Here are the four reasons why companies make purchasing decisions.
- Increase revenue
- Decrease cost
- Increase efficiency
- Decrease risk
Learn more about Value Proposition on “Foundations” in our Client Library.
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