In this section we will focus on leveraging the power of positioning to engage the customer, focus on value, and control the renewal process from the very beginning, using the skill we previously discussed in the overview video called the Power Hook.
Think about your customers. What is their world really like?
People are distracted:
There is so much vying for your buyer’s attention.
People are deluged with information:
Research says that 57% of the sales process is completed before a salesperson is contacted.
Buyers have a huge amount of information about you and your competition. It’s not about accessing information – it’s about being overwhelmed with too much information and determining what is truly relevant.
People feel disconnected:
Work has become more segmented and specialized.
People are often unsure of how their contribution impacts the success of the organization. There is little time to develop relationships, both internally and externally. Covid 19 has isolated people more than ever.
And finally, it is very easy for people to disengage:
According to Gallop Corporation 66% of US workers and 81% of global workers are disengaged. They come to work each day – but are not contributing what they were hired to contribute
So how do you capture their attention when they are so distracted?
How do you help them see the value of your partnership/solution when they are deluged by suppliers claiming they can do more for less?
How do you deal with savvy, well trained, demanding customers who try to commoditize your offering to drive a better price or more concessions?
How do you persuade detached people who don’t see the value of collaboration and innovation?
The first thing you have to do is engage them – grab their attention and hook their interest.
They are not interested in you or what you have to sell – what are they interested in?
The answer is achieving their own goals – both business and personal. People make decisions to gain an outcome or avoid a risk.
So how do we capture their interest and focus their attention? The Power Hook.
But what is an effective Power Hook?
What not to do:
Applying the Power Hook in your Renewal Dialogue
You will often revisit the Power Hook throughout the renewal dialogue, to remind people of what the conversation is really about – achieving the outcomes most important to the buyer.
An effective Power Hook may sound like the following:
“You’re looking for a solution that will maximize the profitability of your sales team, and get new people up to speed much faster so that you are better able to reach revenue and margin goals this year.”
Remember that your customers will only be as interested, enthusiastic, and confident in what you say as you appear to be.
So, while your words are important, how you convey those words is also critical.
We will explore your ability to instill confidence in decision makers in the next section.