Selling a product with a ton of features is a blessing and a curse.
It’s great that your product has so many cool features. It’s also a nightmare for marketing and sales. Why? They’re trying to sell all of them and your buyers are overwhelmed, often to the point of decision paralysis. If your competition is doing the same thing, at least the playing field is level. But if they’re not, you’re in big trouble.
The bottom line for product marketing and sales teams, especially when it comes to high-tech products, is to make complex products look amazingly simple. The easier they are to understand, the easier they are to buy!
Here’s the other thing. The whole point of the sales process is to create an urgency to buy, period. And the best way to do that is to show buyers how you’re going to make them better at a few things that have the greatest impact on their success.
Stop selling problems, features & benefits. It’s the equivalent of a rudderless ship with no destination. I know. It’s easy to get all caught up in showing how cool your products are, but when you do that, you’re not showing the buyer how great your products going to make them.
Do These 3 Things to Win More Deals
1. Identify Your Top 5
Identify the top 5 things your target buyers need to get better at doing. Be sure to understand why those things are important to the success of the organization beyond the benefits to the users. Also, make sure they’re defined in a way that can be measured or quantified so that your value story lands with more impact.
This is your story, simple and powerful! “We’ll make you better at these 5 things…that eliminate these issues…and result in these outcomes…that are strategic to your business.”
The numbers are in your favor. Every one of your target buyers needs to get better at 4 of those things at a minimum. That gives your value story an 80% hit rate.
2. Create the Story
Create marketing materials and sales tools that tell the story and use them in every facet of your marketing and sales efforts. Make reference to only 1-3 of the “highest impact features” in each scenario as necessary to close the loop on the story. It creates a perception of simplicity. Add in customer success stories to ice the cake.
Now, tell the story until you’re blue in the face, ready to vomit, etc. When you reach that point, that’s when the market will actually start to respond. It’s a marathon, not a sprint.
3. Sell Your Expertise
Customers buy from you because you’re an expert in your field. Sell it! If your sales team comes across as having more expertise than the competition, it creates a perception that your products are superior. It’s a huge factor in the buying decision.
Selling a Product – The Bottom Line
Less is more and keep it simple! Convince buyers that it’s easy to be successful with your product, even if they only need 20% of the features.
If you want to create your simple value story and the supporting product demo to go with it, contact us about a hands-on workshop (via web meeting) or enroll in Product Management University On-Demand and learn whenever and wherever it’s convenient for you.