“Companies don’t buy technology. They buy solutions.”
Positioning a technology-related product – whether its software, hardware, or both – can be quite tricky. Often there is a disconnect between what a developer believes a product is worth and how much a consumer would be willing to pay for it.
Luckily, today’s more responsive testing methods can help you arrive at optimal price points.
But fewer companies think in terms of hardware, software, or even products these days. When you get right down to it, customers need help solving their problems. Whether the challenge has to do with time, money, or ease-of-use — you’d better have a clear, compelling solution if you want to compete for their business.
How To Sell a Complex Technology Solution
Recently, I collaborated on a high-level project with a major technology company. Goal was to help them identify, organize, and clarify their value proposition. While the vast complexity of their offering made the project a challenge — we were able to “find a way in” by focusing on the needs of their core customer.
Their previous pitch deck featured a lot of the right ideas, but it was largely organized around:
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1. The company’s history and business philosophies
2. Descriptions of various divisions, and
3. Explanations of some tech ideas
There is a lot of “we” in there. Not enough “you.”
Meanwhile, the company faced headwinds. There was a growing perception among current clients that services had grown overpriced and invoices were hard to decipher. Meanwhile, competitors had sharpened prices and simplified their offers.
Luckily, this technology company had recently conducted extensive client interviews and held an all-day, offsite brainstorming meeting in order to help clarify strengths and weaknesses.
Armed with a cache raw intel, I was able to perform a focused review of all the material. From there, we arranged one-on-one calls with about eight key decision makers within the company.
I needed to understand how this vast puzzle all fit together. From there, I could help them refocus their pitch based on key ideas that emerged from the responses and data.
We gained access to critical insights from current clients — and from prospective clients they’d been unable to win over. Based on this intel we were able to construct a very realistic “buyer persona.” Next, I identified the major challenge-to-benefit themes from their complex offerings and re-organized them into a presentation that would make logical sense to a future prospect.
Main Takeaways:
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1. An outside perspective can be massively important.
People within larger organizations deal with assumptions that guide politics every day. Often, an consultant can offer unique perspective that helps internal decision makers evolve.
2. Focus on the needs of your customer.
How do they benefit from choosing your solution? Any pitch or presentation should be turned around to address the most vexing challenges your customer faces.
3. Simplify the complex.
It’s okay to tell your company’s story. But be brief. When explaining your complicated solutions, provide benefits whenever possible.
Clarifying your benefits and simplifying your offer also frees you to explore other markets and tactics.
Business Partner collateral for Expand Networks
Consider Tapping Into Vertical Markets
Often, we find that technology products and solutions are well-suited for vertical marketing. For example, a technology firm may create products that are particularly useful in healthcare. Or, a software company might have solutions that help simplify tedious processes for accountants, bankers, or law offices.
“A successful technology sales person will concentrate on a specific industry. If the prospective customer is large enough, a single sales person may dedicate 100% of their efforts to that customer.” —Walker Sands
I wouldn’t advocate that technology products and solutions be positioned for industry markets only. But the broad value proposition of your offerings should be clearly expressed so businesses across a wide variety of markets can see the benefits.
Business Partner onboarding kit for Motorola/Symbol.
Vertical marketing and industry marketing can also help you zero-in on prospects more likely to be receptive to your messaging. That’s a smart use of your marketing budget!
“Sales professionals need to research the company and provide specific examples of how the new tools can positively impact their business.” —Tom Searcy
Spark Creative develops vertical marketing and industry marketing sales support materials for numerous clients. Common items that we can deliver for you include brochures, one sheets, videos, web pages, information graphics, market primers, white papers, customizable presentations, and more. Tell me what you need to achieve and by when. We can get started today.
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Sources may include:
Top 5 Ways to Sell Technology in 2013, Tom Searcy, Inc. Magazine
Top 10 Strategies for Marketing Technology Services, Elizabeth Harr, Professional Services Marketing Today
Selling to CIOs, Walker Sands