Filling Your Credibility Tank: Understanding Your Buyer's Problems
Are you truly familiar with your buyer's challenges, or are you inadvertently undermining your credibility by focusing solely on technical issues?
In the world of sales and business, credibility is an invaluable asset that can make or break your success. It's not just about presenting a polished façade; it's about delivering genuine value by comprehending your buyer's problems in-depth.
Many sales professionals make an attempt to understand their buyer's problems, often offering solutions like, "We help companies streamline their ordering process," or "We enhance visibility for businesses." However, these are not real business problems but rather technical issues. Fixing technical problems is a common practice, but it won't distinguish you from the competition or build credibility during the sales process.
The Dangers of Staying in the Technical Weeds
When sales teams remain entrenched in technical problems, they miss an opportunity to build credibility during the buying process. The consequence of neglecting this aspect could be detrimental to your sales efforts.
So, what happens when your team fails to focus on credibility-building? This was discussed in last week's newsletter, which delved into the distinction between likeability and credibility, titled "Unveiling Imposter Syndrome: Navigating Likeability and Credibility in Sales."
Credibility Is Currency
Without credibility, our team members are often grasping at straws to answer questions, stay surface level with buyers and focus on product during the discovery process. It's time to shed that Imposter Syndrome Suit and step into your credibility.
One powerful way to bolster your credibility is by understanding your buyer's problems thoroughly. Here are four ways you and your team members can get a PhD in your buyer's problems and boost credibility:
- Know Your Sh&t- Yep, that's right. You have to know! We have to start with understanding the buyer’s world and become an expert in diagnosing the business problems we solve. Have you ever thought - who am I to (x)? Who am I to question a CFO, COO, VP or S-Suite member - they are an expert! Yes, but you are the expert at your craft too. A VP of sales is an expert in forecasting, looking at sales data, managing a team. RARELY are they an expert in how to refine a sales process, developing team skills and teaching/coaching the team on how to improve. First don't wait; take proactive steps by interviewing 3-4 of your current customers. Ask them about their problems, the resulting impacts, and how your product addressed their technical issues, subsequently affecting their business. By listening to their experiences, you'll gain a clearer understanding of the actual business problems. Next expand your knowledge by researching online. Search for terms like "What problems does a CFO of [specific industry] face in 2023?" Dive deep into the intricacies of the issues, the key performance indicators (KPIs) they measure, and how these issues manifest in their businesses. The more information you gather, the better-equipped you'll be to understand your buyers. Last leverage various mediums to gain insights into your customer's problems. Hunt for videos that discuss your customer's pain points and listen to experts who share their perspectives on these issues. Multimedia sources can provide invaluable context.
- Own Your Expertise - Have you created a Problem Identification Chart (PIC) for your business? If not, it's time to consider it. A PIC chart is a powerful tool that outlines the problems you solve, their impacts on organizations, and the root causes. It serves as a roadmap for diagnosing your buyer's problems with precision.
- Set Your Intentions - Shift your focus from selling to helping during discovery calls. When your intention is to assist rather than sell, it changes the dynamic of the conversation. Buyers appreciate genuine help rather than feeling pressured to buy. This shift in intention can drastically boost your credibility.
- Detach from the Outcome - Detach yourself from the outcome of a sales call. Instead, immerse yourself in the buyer's world, diagnose their problems confidently, and identify the gaps in their current situation. Focusing on whether you win or lose the sale places unnecessary pressure on you. Your goal should be to provide value and expertise, regardless of the ultimate outcome.
Credibility is a precious asset that can set you apart from everyone else and helps your team dive into business conversations that count. To fill your credibility tank, focus on understanding your buyer's problems, their impacts, and the root causes.
This knowledge will not only boost your confidence but also enable you to shed your imposter suit. In the end, credibility is not about what you say; it's about what you do, and by solving your buyer's problems effectively, you prove your worth and earn the trust and respect of your clients.
Do You Know The Problems You Solve?
PS...Gap Selling Solves For Four Business Problems. If your team is facing these problems feel free to reach out for a call to diagnose and address these challenges effectively.
- Low Close Rates
- Decline in Sales
- Weak Lead Generation
- Low Average Sales Price
