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Sunday, September 20, 2009

Conceptualizing the value of a Product/Service

To make an effective sales presentation one needs to be able to quantify the benefits attached to a product  to be able to portray the benefits of the product in an organized manner. This often includes certain activities which involve in interacting with the Marketing & the Technical people in-order to accurately build an effective Sales Business Case.

There are certain steps involved to get this framework up & ready.

1. Pain Point Identification : These are succinct statements of the clients issues that the product or the service solves.

2. Value Proposition : These are the aims that the product/service claims to achieve. They can be further broken down into three key elements such as :

a. The IT process or business function which is being addressed

b. The business objective i.e. Is the aim to minimize cost, mitigate risk, improve revenue, improve time to value

c. How the objective is quantified

3. Benefit Quantification Process : This usually describes how the benefit will be quantified. This is typically done in one of two ways:

1. Describing a process and set of activities which are made more efficient by the deployment of the solution

2.Defining a set of key metrics which will be improved by the solution. i.e. % reduction in training time, % improvement in customer retention, % reduction in SLA penalties.

4. Benefit Summary Efficiency Percentage : This particular concept would allow you to give the client a ballpark figure on the amount that you would be saving for the client eg -  i.e. 50% less time (labor saving) is required to do reporting with the product/service

If you want some perspective on how you or  your company needs to enhance their Sales/Client Management Capabilities, please email me at shubhanjan.saha@gmail.com
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