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August 2, 2013

What Does Your Client See in Your Business?

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Jeff Cochran

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Your prospective clients, like any clients, are bound to see the business world in their own way. Their experiences in the industry will undoubtedly influence their point of view. It all comes down to their understanding of the industry and how their own business or personal needs relate to the products or services they are going to pursue in order to get a leg up in a competitive industry.

These aspects of business give clients a particular outlook on their own business model, as well as the challenges they face and the opportunities available to them. This outlook is a major factor in how your client understands and deals with the concept of value in business – that is to say, just how much products and services are worth in relation to their own needs and objectives.

Breaking it Down: Point of View and Value

It should be a given that you have an intimate knowledge of the industry and of your prospective client’s needs and goals in business. With this in mind, you should be able to create a value that is aligned with the client’s objectives. When the value you generate is in the ballpark with your client’s outlook on value, then making the transaction is easy and doesn’t require any further analysis. This makes for a smooth relationship between you and your client, because they understand the worth of your product or service in much the same way that you do.

Distortions of Outlook

Difficulties arise when the client’s outlook creates a distorted sense of value. For example, if your service has been proven to create much more effective results than those of your competitors, with solid statistics on such fundamental aspects of business as improved ROI and lead conversion, then it should be clear that your service could be an invaluable aspect of any client’s strategy.

Unfortunately, this is not always the case. Many people opt for lower quality for a lower price, so being the best is not always going to cut it for these clients. If this particular client does not see that your price is lower, then you will not be able to win them over.

What to Do?

What does this mean for you? Well, there are two options: either change your own value, or change your client’s perception of value. Neither of these answers are particularly simple. It may not be worth it to realign your sense of value with your client’s; then again, it may not be worth it to put in the work to change that of your client. Either way, the aforementioned understanding of your client’s needs and goals will be a crucial factor in making the next steps forward.

Sources:

http://thesalesblog.com/blog/2013/07/05/your-clients-value-lens/

http://thesalesblog.com/blog/2013/06/25/the-urgent-case-for-business-acumen/

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