I wish I could read people’s minds. Don’t you? Of course, we can’t, but what if we can get closer? What if we can get enough hints that we can come close to knowing what someone is thinking?
OK, let’s make this about pricing and value. You don’t know how much any B2B buyer is willing to pay. But what if you could get closer?
Let’s start with two assumptions: First, your buyers don’t know how much they are willing to pay. Second, if they did, they wouldn’t tell you. Your buyers don’t know how much they value something, and they don’t even know how to figure it out.
Here’s the magic trick. You can know how buyers perceive value, better than they do (until you help them). You may not know the values, but you can know the process. Once you know how a buyer eventually gets to value, you can guide them there more quickly, learn their answers along the way, and have a strong influence on their decision.
The key is Value Tables: Problem, solution, result, value. Of those four items, the only one buyers (and salespeople btw) are really good at articulating is the solution. Yet, it’s the least important when trying to determine willingness to pay. When you can learn to discover the buyer’s problems, translate those to results, and calculate the monetary value of solving those problems, it will seem like you can read your buyer’s mind. What a powerful talent to have.
I wish I could teach you how to read minds. Sadly, I can’t. But I can teach you to master value tables, which feels incredibly similar. If you want to learn how your buyers think about value, please reach out to us. We love making companies successful.
Now, go make an Impact!