The bottom line is that if you have any revenue at all in your company, then you have a tangible ROI. The issue is that you have to do a much better job of determining the ROI that your offering brings to your customer. So, I’m going to tell you my formula for making this happen.
What if your customer doesn’t tell you what their ROI is?
If you are selling anything, it is your job to determine what your customer’s ROI is. This framework can even be for a commoditized service. It does not matter what you are selling!
My framework for determining your customer’s ROI:
- Quantify the size of the problem. What is the cost of the problem?
- What is your time to implement? How much time will you save? Use their words.
- You have to get the customer’s agreement on the tangible ROI. This needs to happen at the C-Level, director level and manager level.
- Get buy in for the “return on emotion” – how would you feel with this solution implemented? What would it do for your mood? How would their staff feel? What would morale be like? This creates a homerun
When you do this on the front end of the sales cycle, you will close more sales, the sales cycle will be shorter and more predictable. Your negotiations will be much easier.
Leverage this with prospects as well, to make amazing case studies.
