Tuesday, December 18, 2012

Selling Value with Digital Signage Solutions: A simple equation = more sales

-Deacon Wardlow
 Nobody likes feeling helpless and (worse) being forced to admit to ignorance. When a client reaches out for help, they're expecting someone to bring them the solution and to make it clear and easy-to-understand why the solution presented is the best option available. As the knowledgeable "expert" it's up to you to make the value proposition to the client so the investment with Digital Signage is easy to make. The client's demonstrated a need by coming to you, it's up to you to demonstrate how that need can be met with the best overall Digital Signage (DS) package.

Simple calculation for the Value Proposition: V=BR (Value = Benefit and Return (either on Investment or Objective)

How do you achieve this Value Proposition? Let's take the example of an outdoor LED Display (as this is my particular area of focus):

Build a case for the display by first demonstrating your efficiencies -Why is your company the best to handle this request?
-What is your history and experience providing these solutions?
-How will it be executed/installed? (Having the client visualize the DS solution in place and working gets you closer to "yes.")

You should then move to your manufacturing partner (usually you're coming to the table with one or more partners). Your manufacturing/other partners should be able to provide cut-sheets on the product, information demonstrating why this solution is beneficial for the client's market segment, etc. If the partner can't (or even worse, won't) provide this information, it may be time to look for a new partner.

The typical "dollar shift" is a tried/true means of showing how the client can move money they spend on radio/print/other advertising over to their on-premise solution for a greater return on visibility and reaching their larger potential client base. The more people see the messages, the greater the return on their investment in the DS system and return on objective i.e. community outreach, increased presence in the market, interest in their business and product/services, all of which usually equates to a return on the initial investment with a typical 10%-15% growth in earnings.

Build the value by showing the Benefit of working with you/your partner(s) and the Return they stand to gain with the solution in place BEFORE giving them the final price for the solution. This helps build the reality of the proposed system and overcome the "sticker shock" syndrome of many clients. Selling on price is a reality we all have to face from time-to-time, but if there's no value you're just selling a number which anyone down the road can beat. Make sure you leave your best proposal with the client and you'll find you win more deals, more frequently (often when you weren't the lowest price). If there's value in what you're proposing, clients will pay for it.

There'll be no new posts next week and we'll start back up again in the new year. Thank you for your readership, your comments (online and off), your feedback and your desire to learn more. I hope we've been helpful this year. Happy holidays, I hope this past year has been good to you and yours and the next year is even better.

*I invite you to comment here and/or email me directly with requests at deacon@vantageled.com. Vantage LED has white paper resources and more educational material on the website (http://www.vantageled.com), please check it out when you have a moment. Note all posts/thoughts/writings are strictly the viewpoint of me and me alone and do not reflect nor speak for Vantage LED’s beliefs, attitudes, thoughts, etc. unless specifically stated.

No comments:

Post a Comment