The Secret To Validating Value

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The Secret To Validating Value

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Ever connected with a prospect who could immediately see how what you’re selling would change their lives?

For most of us, prospects like that are few and far between. Unfortunately, that has more to do with us than it does with our prospects. Prospects need to immediately understand how what we’re selling will make their lives (and businesses) better.

And that means we need to validate our value.

While many salespeople are great at this, we wanted to hear from someone whose job it is to hear OTHER people’s pitches, as they have a special insight into validating value. To do that, we sat down with Bocar Dia, a partner at Forum Ventures. Bocar’s role is to vet and coach companies requesting funding from his firm, so he has a high bar when it comes to understanding value. He showed us how any salesperson can structure their entire sales process to validate their value in every step.

Because we’re trimming hope from our sales strategy, we’ll use the acronym TRIM to guide us through creating a system with a trigger, ensuring it’s repeatable, building in ways to improve it and of course, ensuring it’s measurable and getting us results.

T-Trigger: Validating value begins long before we’re in a sales conversation with a prospect. Bocar says that we should start this system every time we’re launching a new product, company, or refreshing the way we’re selling something. Basically, we can benefit from validating value at any point!

R-Repeatable: To make the way we validate value repeatable, Bocar says to identify what your new market has in common with one you’re familiar with (in the case of expanding into a new market) or what your product/service has in common with something your customer is already familiar with. This way, you’ll be able to meet your prospects where they are instead of drag them into value they may not connect with.

Second, treat yourself like a scientist and develop a hypothesis for your product/service. Create an educated guess on how what you’re selling will deliver value. Before (re)launching it, validate your hypothesis with existing customers or a sample group. Ensure that you look at the potential market for what you’re selling and ensure there’s enough people in your potential market to justify your launch!

Third, map out the pain points of your potential prospects into your sales process, ensuring that you’re inserting them where they’ll have the greatest effect. Too many salespeople lead conversations by diving into the biggest pain point without ensuring the person they’re speaking with is actually suffering from it!

Fourth, ensure that you are identifying the right stakeholders in any organization, understand their decision-making process and what drives their decisions. Each of those will be critical in customizing the value you’re delivering to them throughout the sales process.

Finally, ensure you’re building customer success in as a step in your sales process. Promising value does not good if you’re not actually delivering it.

I-Improvable: To improve the way you validate value in how you sell, take the time to re-test your hypothesis about the value you provide. You’ll likely discover that what you thought at fist is not completely aligned with what your customers are experiencing, and you’ll want to gather success stories from folks who have experienced real value to build into your sales conversations in the future.

M-Measurable: To measure the effectiveness of how you’re validating value, look beyond immediate metrics and ensure that your customers are the ones benefitting. That means not judging success by how many deals you close, but instead measure the growth of your customers in their companies, satisfaction, and personal lives.

By regularly validating value, you’ll ensure that what you’re selling is always what customers will want more of!

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