Product, Process, or Performance?
Identifying the role and focus of ideal clients is critical to creating value for them, and perceived value in your offerings. Which in turn, can help drive revenue.
The arrows on the diagram below represent three common focuses that prospects routinely demonstrate, depending on the perspective or 'focus' they bring to the interaction.
🟧 Product = Vendor = $ Perceived Value/Risk. Seller does 'it' all. Businesses sell (or buy) based on a 'product' or 'deal'. Quick results, not always lasting. Safe. Can be an introductory transaction prior to larger engagement.
🟦 Process = Partner = $$$ Perceived Value/Risk. Seller and buyer collaborate on 'it'. Businesses sell (or buy) based on opportunity to realize continuous improvements over time. Longer term results, without rocking the boat too much. Still fairly safe.
🟩 Performance = Coach/Leader = $$$$$ Perceived Value/Risk. Seller guides buyer. Businesses sell (or buy) based on perceived or measured value and anticipated return on investment. Significant results can be realized through adequate preparation. Takes a gambler to initiate and subject matter experts to execute.
The basic concept is that any of the three is fine, but increasing the perceived value of your offerings opens the door to greater revenue generation over a moderate term.
Apply the Three Arrows Concept to Convert Leads into Sales
Just as smart marketers develop content that’s appropriate for different personas, a savvy sales approach is to recognize the roles of each prospect type and communicate with them in terms that make sense to them.
Develop a playbook that helps you communicate relevant to the role they have in their research and decision-making process. The end result, of course, is that you’ll get better at figuring out what your potential clients need when they contact you, and thus will be able to do a better job of connecting your offerings to their needs.
Then, you can make full use of your sales and marketing efforts aren’t causing opportunities to slip away, just because you took the conversation in a direction they weren't expecting.
