What are the top three ways you provide value?

I ask this question of almost every vendor I meet and I’d say only a third of them can answer it directly. The other two thirds either can’t answer the question or quickly transition into a technical discussion of what they do. It’s a shame, because a crisp answer to that question sets the direction for the sales and marketing teams. I’ve mentioned in past blog postings that features aren’t benefits but how do you get everyone thinking about the value they deliver rather than the technology?

One simple exercise we use when working with vendors is to draw the link between features and benefits. Force marketing, sales, and management to speak in full sentences when describing a feature. It’s harder than it seems. An example might be: “The new workflow in this release will increase productivity for workers by reducing the time at each step,” or” Our improved disk management will reduce the need to purchase new storage devices for remote locations.”

Want to go to the next step? Start with the benefit then link the features that drive the benefit. For example: “Our customers won’t need as many accounting staff because the new software will allow them to close the books more efficiently each month.”

Lets start 2014 with a clear value message.