Part 1: Seven Things You THINK You Know, But Don’t
“We lost the deal because of price.”
Too convenient. It’s usually something else.
“Our product demos usually go very well.”
May be so, but did you know you they liked your competitor’s interface better?
“The main target audience for our solutions is the C-suite.”
Are they the buyer, the user, the influencer or the sponsor? Which member of the “C-suite” constitutes your target audience? CEO? CMO? CFO? COO? CIO? CTO? CRO? CDO? CHRO?
“Our customers know us for high quality service.”
Everyone says this. But when the last time your account team met with your top 10 clients?
“Last quarter, our win rate was 50%.”
Yes, but those were only the deals you were in! How many deal were there in your market? How many times were you eliminated before you even knew about an RFP?
“We’ll create this custom code for ONE client and then sell the new product to ALL our clients.”
This strategy rarely works. Don’t just sell what your developers build. Discover what clients really want and make that.
“No one on the market has our functionality.”
When was the last time you conducted primary market intelligence?