Last week, a top sales performer shared some insight as to what makes him so successful. He said that he always thinks of how buyers buy:
Buyers make emotional decisions and justify them logically.
That means he needs to present two ROIs to a prospective buyer. He went on to tell me that most salespeople think that ROIs are only spreadsheet-based and that “if my customer spends x dollars, they should see y dollars in return within zmonths.”
How many times have you presented an ROI with no movement from a prospect? Perhaps it’s because it only addressed one aspect of the buying decision: the justification. This top performer said the magic is giving someone what they need for the emotional part of the buy; the second ROI that targets the emotional decision, which he called the “Risk of Ignoring” proposal. This proposal addresses the more personal risk of ignoring a proposal such as missing the opportunity to do something innovative, having to take responsibility/be exposed for the loss of competitive advantage, putting the company at risk, being viewed as too tactical, etc. A good ROIgnoring proposal will highlight personal motives for why a buyer should act.
Just like you would never present a cost without a value, consider the importance of the two-sided ROI that calls out both the Return on Investment (ROI#1) and the Risk of Ignoring (ROI#2).
I’ll share more tips from top performers as I go. Stay tuned!