Creating Effective Business Cases
Module 6: Discovery Meetings Session Number: 39
Session Title: Creating Effective Business Cases
This module will focus on building value for your prospects because if you aren’t building value, nothing else will work. Your closing begins in this part of the process, so you must begin the work of closing at this point.
During this session, you will learn the following:
- What a business case is and why you need to use them
- How to create a business case
- What an effective business case looks like
Many buyers operate in a transactional way. As a result, sellers are trained to focus on features and benefits. But that isn’t why people will buy from you. It also isn’t completely true that people will do business with you simply because they know like and trust you. They might love you, but if they don’t see a need for your product or service, they won’t buy.
Your prospect must have a compelling reason, and he must know, like, and trust you. Your business case will provide evidence that convinces your prospect to move toward a certain decision.
Step 1: Build an emotional connection.
People are swayed by emotions and they make decisions based upon emotional connections. You must build an emotional connection with your prospect.
Step 2: Generate interest.
You’re calling this the prospecting stage but your prospects are gathering information. They want to know who you are and why they should be interested. They are figuring out why they should change, and why they should change now. Before you try to get to the demo stage, you must understand that your prospect is researching.
Step 3: Prepare for discovery.
- Anticipate the objections you may encounter: We already have something like this. Your product costs too much. It’s not the right time. I need to speak with someone else.
- Introduce all the members of the discussion. As we discussed in the last model, set the ground rules before you play.
- Review your Irresistible Value Message (Blind Side Challenge). This is the reason your prospect should consider what you’re offering. In some cases, this will be a realization the prospect hasn’t made yet. Maybe their sellers aren’t closing well. Perhaps they are losing money because of ineffective prospecting.
- Build a business case around a previous customer you helped with a similar problem.
- Learn about the specific business challenge. What is the prospect’s time frame? Does the prospect have the budget for this?
- Identify the next step.
Step 4: Build a business case.
- Begin by identifying the problem.
- Identify means of measurement.
- What are the consequences of the problem?
- What were the results of the solution?
Tasks to Implement:
When you help your prospect recognize the pain points and understand the consequences of the problems they have encountered, you will take the first step toward building a business case. That will lead you naturally down the path toward a solution.
Your sales close begins long before the end of your sales cycle. If you wait until the end of the cycle to begin building value and addressing objections, you’ll face an uphill battle. Use these steps to build value for your customer and to communicate your interest in helping him solve his problems.