Calculating the Cost of Status-Quo in Your Sales Process

Updated: July 05, 2011

Most organizations are unwilling to make a change if something "appears" to be running smoothly. We all face the issue of expending tremendous resources on an opportunity only to find out they decide to do nothing. Why do you think that is? I have narrowed my thoughts down to these four reasons. Let's take a look at each.

• They don't fully understand the problem
• They don't realize the cost of the problem
• They don't realize the impact of your solution (or any solution)
• Their threshold of pain has not been reached

If a prospect doesn't understand their problem, you have your work cut out for you. This is the hardest objection to get over. I feel the only way for them to fully understand the issue is through their wallet. If you are able to capture information to calculate their annual cost of an issue, it is easier for you to get their attention. Often times we will take data from one of our other clients of similar size and present a case. Doctors have to be one of the hardest people to sell to. They don't deal with day to day activities in the office, yet they make the final decision. Too often sales professionals meet with office managers in doctor's offices and present their solutions without any due diligence. This we like to call, "show up and throw up." They assume the problem they solve exists. This is your first mistake! Never assume a company has the problem you solve. It is critical to gather information from a prospect and help them calculate the on-going cost of that problem. Doctors are the same. Whatever information you can capture, do it, and then supplement their data with data from other "customers" you have of similar size. This lends credibility to the presentation and drives a conversation that will inevitably end up with you collecting the real data from the doctor and presenting a business case they will believe and trust. This technique must used with confidence and with your customer base. The key is your customer base. Finally, it should be obvious, but the technique will work in most B2B sales situations.

The impact of your solution is not always fully understood. I am a strong believer in the idea that your prospect should participate in assessing the impact of your solution. Too often we see companies presenting home grown ROI tools that estimate millions of dollars of return over a couple of years. This is crazy! You must present your case through presentations, demonstrations, case studies, site visits, references and true value estimation and Return on Investment (ROI) analysis. Only then do you estimate the value you can deliver. And, when you are estimating that value, be sure to ask your prospect what they think. This gets buy-in and shifts ownership to the prospect.

these throughout your sales process, it will help you get into the head of the buyer.

Featured Research
  • The Contact Center Conquers the Cloud

    Contact Centers have come a long way over the past few decades. Learn how this important asset has evolved into the cutting-edge offerings of today. more

  • The New SMB Phone Systems Comparison Guide

    Does your small or medium-size business need a new phone system? Then you're in luck! Our new, updated comparison guide helps you cut through superfluous information and narrow down your list of solution providers. Get the latest data on phone system features, pricing, and performance metrics in an easy-to-use format. more

  • Contact Center Software on a Budget

    Although contact center software is necessary for a modern contact center, it can be outrageously expensive. Many companies find that their budget bloats during the implementation process. more

  • How UC Can Help Your Business Survive the Holidays

    The holiday season is filled with frenzy and excitement for businesses and consumers alike. Consumers prepare gift lists, compare brands and prices, and begin shopping with a vigor that is not present most other times of the year. For many businesses, the holiday season accounts for a large profit bump at the end of each year, and companies strive to exceed their goals and keep customers happy during this rush late in the year. more

  • [Infographic] Switching Phone Systems

    There are a lot of possible reasons you might want to switch to a new phone system. The old one might cost too much or be too troublesome to operate and maintain. It might not be flexible enough. It might not be reliable enough. Or it just might not have the kinds of features and capabilities that you need in today’s competitive business climate. more