Differentiators with a Differenceslostc.org/events/jan24_2011_presentation_sant.pdf©2011 Tom Sant....
Transcript of Differentiators with a Differenceslostc.org/events/jan24_2011_presentation_sant.pdf©2011 Tom Sant....
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©2011 Tom Sant. All rights reserved. hyde park partners
Differentiators with a Difference
How to Create Meaningful Differentiation in Your Sales Presentations and Proposals
Dr. Tom SantHyde Park Partners
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©2011 Tom Sant. All rights reserved. hyde park partners
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©2011 Tom Sant. All rights reserved. hyde park partners
Selling on value
The role of differentiators
How to state them
Linking them to value
Where to use them
Six Issues Related to Differentiation
Identifying yours
Your Success
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©2011 Tom Sant. All rights reserved. hyde park partners
Selling on value
The role of differentiators
How to state them
Linking them to value
Where to use them
First…
Identifying yours
Your Success
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©2011 Tom Sant. All rights reserved. hyde park partners
FACT: Without value, winning is just luck.
You must establish superior value
based on technical, contractual, managerial, quality, or service differentiators,
or the customer will choose based on price
or may choose to donothing.
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©2011 Tom Sant. All rights reserved. hyde park partners
Smart Buyers Look for Positive Impact
• Revenue generation• Operational efficiency• Reliability of mission-critical operations• Quality• Worker productivity• Customer satisfaction• Regulatory compliance• And other key performance indicators
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©2011 Tom Sant. All rights reserved. hyde park partners
It’s not what you sell; it’s what they’ll gain
Focus on the hole your customer needs to make,
not on the drill.
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©2011 Tom Sant. All rights reserved. hyde park partners
The Basic Value Proposition
(Values - Costs) > (Valuea - Costa)
where:Values = the value of your solution Costs = the cost of your solution Valuea = the value of the next best alternativeCosta = the cost of the next best alternative
Outcomes
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©2011 Tom Sant. All rights reserved. hyde park partners
People use seven “heuristic models” to find the relevant information, analyze it,
and make a decision.
How people actually make decisions
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©2011 Tom Sant. All rights reserved. hyde park partners
The Estimation Heuristic
Basic principle:Choose the course of action or alternative that offers
the highest rate of return.
Why the Inuit hunt whales.
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©2011 Tom Sant. All rights reserved. hyde park partners
The promise inherent in our value proposition:
You will get more of the outcomesthat you want the most
if you choose us.
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©2011 Tom Sant. All rights reserved. hyde park partners
Warning: Not Everyone Buys Value*
The Relationship Buyer
The Price Buyer The Value Buyer
The Poker Player
*Based on the research of Dr. Reed Holden, The Strategy and Tactics of Pricing
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©2011 Tom Sant. All rights reserved. hyde park partners
And Not Everyone Wants the Same Value
Personal goalsBusiness / Financial• Budgetary compliance• Profit improvement• Downsizing
Technical / infrastructure goals• Automating a labor-
intensive process• Adding flexibility• Improving QC
Social goals• Internal
- Morale- Absenteeism- Turnover
• External- Public support- Approval- Recognition
Look at the client’s key goal areas and seek a solution where they overlap.
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©2011 Tom Sant. All rights reserved. hyde park partners
1. Financial gain
2. Business performance
3. Quality improvement
4. Technology / infrastructure
5. Reducing fixed asset costs
6. Keeping up with industry trends
7. Competitive strategy
8. Regulatory compliance
9. Social impact
10. Risk minimization
11. Speed of delivery
12. Continuous improvement
13. Lighter ecological footprint
14. “Core vs. context” focus
15. Creating a legacy
Types of Value Customers SeekTypes of Value Customers Seek
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©2011 Tom Sant. All rights reserved. hyde park partners
Selling on value
The role of differentiators
How to state them
Linking them to value
Where to use them
Second…
Identifying yours
Your Success
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©2011 Tom Sant. All rights reserved. hyde park partners
What Are Differentiators?
Product/service featuresCorporate capabilitiesMethodology Management practicesPersonnel Facilities SizeExperienceRecognition, awards
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Common Mistakes in Differentiating
Not including any differentiators at all.• Without differentiators, it’s a commodity.
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©2011 Tom Sant. All rights reserved. hyde park partners
Silence isn’t golden.
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©2011 Tom Sant. All rights reserved. hyde park partners
Common Mistakes in Differentiating
Not including any differentiators at all.• Without differentiators, it’s a commodity.
Using generic differentiators.• Generic value has no value.
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©2011 Tom Sant. All rights reserved. hyde park partners
Avoid Generic and Self-Serving Differentiators
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©2011 Tom Sant. All rights reserved. hyde park partners
Common Mistakes in Differentiating
Not including any differentiators at all.• Without differentiators, it’s a commodity.
Using generic differentiators.• Generic value has no value.
Substituting marketing fluff.• No marketing fluff!
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©2011 Tom Sant. All rights reserved. hyde park partners
Marketing Fluff
Best of breedWorld classLeading edgeState of the artQuality focusedUniquely qualifiedInnovativeLeverage
High performanceSynergyUser friendlyIntegratedPartnershipSeamlessRobustHighly available
Anything look familiar?
Vague generalities. Undefined or unsubstantiated claims. Grandiose promises without substantiation.
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©2011 Tom Sant. All rights reserved. hyde park partners
Common Mistakes in Differentiating
Not including any differentiators at all.• Without differentiators, it’s a commodity.
Using generic differentiators.• Generic value has no value.
Substituting marketing fluff.• No marketing fluff!
Using random or arbitrary lists of “differentiators”.• Tie your differentiators to your value proposition.
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©2011 Tom Sant. All rights reserved. hyde park partners
Differentiators That Don’t Do the Job
• Promises of quality service• Low price• Using standard methods
and tools• Promises of responsiveness• Credentials• Assurances of the client’s
importance• Company size
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©2011 Tom Sant. All rights reserved. hyde park partners
Selling on value
The role of differentiators
How to state them
Linking them to value
Where to use them
Third…
Identifying yours
Your Success
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©2011 Tom Sant. All rights reserved. hyde park partners
The Process
1. Identify your differentiators• By competitor• By processes, especially customer touch points• By corporate capabilities
2. Align your differentiators with your customers’ most common value orientations
3. Identify proof and substantiation
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©2011 Tom Sant. All rights reserved. hyde park partners
Identifying Your Differentiators
Competitor
Process / Lifecycle
Corporate capabilities
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©2011 Tom Sant. All rights reserved. hyde park partners
By Competitor…Competitor Differentiators Why do they
matter?Proof?
Acme
1. Award-winning service2. Global coverage with
local offices 3. Unique work-load
balancing software
1. Faster user acceptance
2. Speedier response 3. Lower total cost of
ownership
1. Case study 1, 22. Map of offices 3. Screen shot;
testimonial
Baxter
Collins
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©2011 Tom Sant. All rights reserved. hyde park partners
Exercise
1. Identify two competitors
2. Identify two differentiators per competitor
3. Indicate why each differentiator matters
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5minutes left
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4minutes left
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3minutes left
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2minutes left
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1minute left
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Done!
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©2011 Tom Sant. All rights reserved. hyde park partners
Differentiators
Share your results.
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©2011 Tom Sant. All rights reserved. hyde park partners
By Processes and the Chain of Interaction…
•Learning about your product/service
•Ordering/purchasing your solution•Payment options•Delivery• Installation•Training•Using your product/ service
•Storing the product •Transferring the product•Getting help when using your product/service
•Repairing, maintaining•Returning, exchanging, upgrading•Removing, disposing of the product
Remember:Focus on what you do that nobody else does, or what everybody does that you do in a different way.
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©2011 Tom Sant. All rights reserved. hyde park partners
Differentiators Associated with Services
Selling services = selling the invisibleWhere to focus:
1. How you will do the work– Methodology, processes, best practices– Prior experience
2. How you will manage the work– Planning, people– Detailed roadmaps
3. Who you will provide– Experience, skills
4. Special facilities or equipment you will provide– Location– Software
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Service Differentiators
Exercise
Identify as many differentiators as possible in the four key areas:
1. Methodology2. Management practices3. People 4. Facilities, resources and tools
Support each differentiator with proof. No proof = no points.
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5minutes left
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4minutes left
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3minutes left
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2minutes left
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1minute left
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Done!
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©2011 Tom Sant. All rights reserved. hyde park partners
Differentiators
Share your results.
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©2011 Tom Sant. All rights reserved. hyde park partners
Differentiators Proof
ValueProposition
Value That Has Value.
What you do that no one else does.
What you do differently
from anyone else.
Verifiable claims you make about
yourself. Claims your clients make about you.Third-party evidence.
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What Kind of Proof?Stack up the proof:Case studiesReferencesTestimonialsTeam resumésProject planThird-party validation (press clips, articles, awards, etc.)Company capabilitiesManagement philosophyGuaranteesQuality control methodology
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©2011 Tom Sant. All rights reserved. hyde park partners
Types of Proof
Things you say about yourself.
Things your clients say about you.
Things third-party experts say about you.
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Things You Say About Yourself
Product or service featuresResumes or CVsCompany history
Corporate capabilitiesCoverage maps
Process diagramsUnique contract terms
SizeExpertise
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What evaluators prefer in technical resumés:• Recent, relevant experience• Specific training• General education• Publications• Patents• Professional affiliations
Photos—• A chance to personalize the team• Also, a way to establish team diversity
Using Resumes to Persuade
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Things Your Clients Say About You
Case studiesReferencesTestimonials
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Guidelines for Case Studies
1. Problem
2. Action
3. Results
Great Success Stories are P-A-R for the course!
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©2011 Tom Sant. All rights reserved. hyde park partners
Third-Party Evidence
AwardsCertifications
RankingsArticles
Accolades
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©2011 Tom Sant. All rights reserved. hyde park partners
Selling on value
The role of differentiators
How to state them
Linking them to value
Where to use them
Fourth…
Identifying yours
Your Success
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©2011 Tom Sant. All rights reserved. hyde park partners
Four Principles of Effective Value
1. Make sure the client cares
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©2011 Tom Sant. All rights reserved. hyde park partners
What does the key decision maker care about?
CEOCFOCIO
Operational ManagerBuilding Manager
Others?
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©2011 Tom Sant. All rights reserved. hyde park partners
Four Principles of Effective Value
1. Make sure the client cares
2. Measure it
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©2011 Tom Sant. All rights reserved. hyde park partners
What Are You Measuring? And How?
Area of results Metric Motion Unit of measure
Financial Direct labor costs Decreased Number or $
Quality Errors in work Reduced Number or %
Social Customer satisfaction Improved %
Technology Downtime Reduced Time or %
Personal Bonus Increased $
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©2011 Tom Sant. All rights reserved. hyde park partners
Four Principles of Effective Value
1. Make sure the client cares
2. Measure it
3. Picture it
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©2011 Tom Sant. All rights reserved. hyde park partners
Graphics and color increase
persuasiveness 47%!
If You Can Measure It, You Can Graph It
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©2011 Tom Sant. All rights reserved. hyde park partners
Four Principles of Effective Value
1. Make sure the client cares
2. Measure it
3. Picture it
4. Link it to your differentiators
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©2011 Tom Sant. All rights reserved. hyde park partners
Linking to ValueDifferentiator Cost Quality Technology Industry
TrendsMinimal risk Competitive
advantage
Awards for superior products
True Web-based architecture
Lease or buy options
Standard code base
Fastest loading and retrieval
Open architecture
Microsoft Solution Partner
First to market
Team functionality
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©2011 Tom Sant. All rights reserved. hyde park partners
Linking to ValueDifferentiator Cost Quality Technology Industry
TrendsMinimal risk Competitive
advantage
Awards for superior products 1 4 5 2 3 3
True Web-based design 3 2 5 5 1 4
Lease or buy options 5 1 1 3 4 4Standard code base 4 3 3 2 5 3Fastest loading and
retrieval 3 2 4 2 3 4Open architecture 3 2 5 4 4 5Microsoft Solution
Partner 1 4 3 3 3 4First to market 4 4 2 3 5 3
Team functionality 3 1 4 2 2 5
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©2011 Tom Sant. All rights reserved. hyde park partners
Linking to ValueDifferentiator Cost Quality Technology Industry
TrendsMinimal risk Competitive
advantage
Awards for superior products 1 4 5 2 3 3
True Web-based design 3 2 5 5 1 4
Lease or buy options 5 1 1 3 4 4Standard code base 4 3 3 2 5 3Fastest loading and
retrieval 3 2 4 2 3 4Open architecture 3 2 5 4 4 5Microsoft Solution
Partner 1 4 3 3 3 4First to market 4 4 2 3 5 3
Team functionality 3 1 4 2 2 5
![Page 66: Differentiators with a Differenceslostc.org/events/jan24_2011_presentation_sant.pdf©2011 Tom Sant. All rights reserved. hyde park partners Differentiators with a Difference How to](https://reader034.fdocuments.in/reader034/viewer/2022043009/5f5c88a00e322a44492c70dd/html5/thumbnails/66.jpg)
©2011 Tom Sant. All rights reserved. hyde park partners
Linking to Value
Differentiator Cost Quality Technology Industry Trends
Minimal risk Competitive advantage
Awards for superior products 1 4 5 2 3 3
True Web-based design 3 2 5 5 1 4
Lease or buy options 5 1 1 3 4 4Standard code base 4 3 3 2 5 3Fastest loading and
retrieval 3 2 4 2 3 4Open architecture 3 2 5 4 4 5Microsoft Solution
Partner 1 4 3 3 3 4First to market 4 4 2 3 5 3
Team functionality 3 1 4 2 2 5
![Page 67: Differentiators with a Differenceslostc.org/events/jan24_2011_presentation_sant.pdf©2011 Tom Sant. All rights reserved. hyde park partners Differentiators with a Difference How to](https://reader034.fdocuments.in/reader034/viewer/2022043009/5f5c88a00e322a44492c70dd/html5/thumbnails/67.jpg)
©2011 Tom Sant. All rights reserved. hyde park partners
Selling on value
The role of differentiators
How to state them
Linking them to value
Where to use them
Fifth…
Identifying yours
Your Success
![Page 68: Differentiators with a Differenceslostc.org/events/jan24_2011_presentation_sant.pdf©2011 Tom Sant. All rights reserved. hyde park partners Differentiators with a Difference How to](https://reader034.fdocuments.in/reader034/viewer/2022043009/5f5c88a00e322a44492c70dd/html5/thumbnails/68.jpg)
©2011 Tom Sant. All rights reserved. hyde park partners
Differentiators Matter Through the Whole Sales Process
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©2011 Tom Sant. All rights reserved. hyde park partners
In the Proposal…The Business Case
•Cover letter•Title page•Table of Contents•Executive Summary
• Customer needs• Customer desired outcomes
• High-level presentation of solution
• Key evidence of competence and value added elements
•ROI, payback analysis
Solutions and SubstantiationSolution in detail
PricingROIValue-added components
Scope of workProject plan/master scheduleProject team, résumés, org chartSubcontractors
ValidationReferencesCase studiesUniqueness factors
RFP responseCompliance matrixQuestion and Answer section
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©2011 Tom Sant. All rights reserved. hyde park partners
Differentiators Are Critical in the Business CaseThe Business Case
•Cover letter•Title page•Table of Contents•Executive Summary
• Customer needs• Customer desired outcomes
• High-level presentation of solution
• Key evidence of competence and value added elements
•ROI, payback analysis
Solutions and SubstantiationSolution in detail
PricingROIValue-added components
Scope of workProject plan/master scheduleProject team, résumés, org chartSubcontractors
ValidationReferencesCase studiesUniqueness factors
RFP responseCompliance matrixQuestion and Answer section
![Page 71: Differentiators with a Differenceslostc.org/events/jan24_2011_presentation_sant.pdf©2011 Tom Sant. All rights reserved. hyde park partners Differentiators with a Difference How to](https://reader034.fdocuments.in/reader034/viewer/2022043009/5f5c88a00e322a44492c70dd/html5/thumbnails/71.jpg)
©2011 Tom Sant. All rights reserved. hyde park partners
Selling on value
The role of differentiators
How to state them
Linking them to value
Where to use them
Sixth…
Identifying yours
Your Success
![Page 72: Differentiators with a Differenceslostc.org/events/jan24_2011_presentation_sant.pdf©2011 Tom Sant. All rights reserved. hyde park partners Differentiators with a Difference How to](https://reader034.fdocuments.in/reader034/viewer/2022043009/5f5c88a00e322a44492c70dd/html5/thumbnails/72.jpg)
©2011 Tom Sant. All rights reserved. hyde park partners
Writing Effective Differentiator Statements
First:
State the value the customer will receive, preferably in quantifiable terms
Example: “One important benefit of accepting this proposal is that Acme Ltd will see a decrease in energy consumption of 15 to 18%.”
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3minutes left
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2minutes left
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1minute left
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Done!
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©2011 Tom Sant. All rights reserved. hyde park partners
Second:
Link the value proposition with your differentiator in a cause/effect sentence
Example: “That decrease in energy consumption will come as a direct result of implementing our gas and electric rationalization software, which will automatically manage your energy costs to assure that you pay the lowest possible price 24 hours a day. The only system of its kind, the software has been proven in controlled studies to reduce energy bills.”
Writing Effective Differentiator Statements
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3minutes left
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2minutes left
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1minute left
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Done!
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©2011 Tom Sant. All rights reserved. hyde park partners
Third:
Provide a proof statement • Case study• Reference or testimonial• Third-party validation• Verifiable statistics• Guarantees or service-level commitments
Example: “For example, when Leeds Smelting plc implemented the software, they saw an immediate reduction in energy costs of more than 20%. Similarly, Birmingham Hospital NHS Trust reduced energy costs by 17% during the first year of using our software.”
Writing Effective Differentiator Statements
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3minutes left
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2minutes left
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1minute left
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Done!
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©2011 Tom Sant. All rights reserved. hyde park partners
Writing the Value Statement
Share your results.
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©2011 Tom Sant. All rights reserved. hyde park partners
Identify the customer’s value
Choose differentiators Provide proof
Financial? Technical? Social?
Key performance indicators?
Measurable?
Back up your differentiators with proof.
Use a client-centred format to write them.
Test their effectiveness regularly.
A three-phase process….
In Summary
Select the differentiators that show you can deliver the right value.
Present them in the cover letter, executive summary.
Use simple, direct language.
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©2011 Tom Sant. All rights reserved. hyde park partners
Good luck!
Creating Differentiators that Make a Difference