Describe the possible “CONCRETE COST SAVING” your customers can enjoy, below?

Using CONCRETE COST SAVINGS, is the easiest way to differentiate your product or service with your customers, as all you need to do, is show  your customer that the cost per unit, of your product, is lower.

Although, this is one of the easiest methods that you can deploy, to show the benefit of using your product or service. Unless you are the lowest cost producer, it is also one of the quickest ways, to go out of business.

Unless you are the lowest cost producer, this is a very dangerous method of differentiating your product.

Keep al the above in mind and list any “CONCRETE COST SAVINGS”, your customers can enjoy, below:

Describe all the possible “OPPORTUNITY COSTS” you can direct to your customers, below?

Opportunity costs – These are indirect savings your customer will experience as a result of using your solution

• Your solution allows your customer to do things more efficiently or they will optimise their bottom line, if they choose your solution.
• These costs are harder to quantify but are invaluable to show customers value.

Example:

• • In the case of my own business, our Sales Enablement Solution supports the entire sales team to perform optimally.
  • This results in more sales professionals contributing to the bottom line, as they all operate daily, using the best sales practices, as used by your top sales performers.
  • This supports more of them to achieve their sales quotas, each year.
  • In the case of Salesforce, sales professionals are able to use a software solution, to help them to become more efficient and effective in the field.
  • In other words, they are able to close more deals, as the software they use, reminds them to keep deals alive and moving through their sales funnel
  • It also reminds them to WOW their existing customers, as they receive regular reminders to engage all their customers, on a regular basis.
  • No one is forgotten.

I am sure that you get the idea.

Describe all the possible “OPPORTUNITY COSTS” you can direct to your customers?

Describe the possible Qualitative costs, you can identify and utilise to show “VALUE”, to your customers below?

Qualitative costs – These are possible cost savings, due to optimised people performance or reduced cost, due to your organisation being more effective or efficient.

Example:

• • In the case of my own business, my narrative would speak to a more agile sales team, who perform optimally due to the implementation of the new Sales Enablement solution.
• Qualitative costs are basically cost savings, your customer will earn as a result of a hypothesis around what your product or service can do, based on past experience.
• These cost savings are what I like to call Soft or the hidden ROI.

Example 2:

In the drive industry, Qualitative Costs, would be something, like the cost of lost production, as a result of the plant, being unable to work due to a broken gearbox or electric motor.

This calculation, would centre around, the time it would take you to source the necessary parts and then the time it would take to carry out the repair and get the plant up and running again.

• In the case of spares, your huge stockholding means that you will have the part in stock, so there will be only a minor delay, with sourcing the parts, as they are already in the country
• In the case of repairs, you can conduct an emergency repair, in 24 hours, so you can very quickly get the plant up and running again.
• The “QUALITATIVE COST” here would be the daily loss due to no production.
• Every day you can save them, will thus save them “WHATEVER THAT DAILY LOSS OF PRODUCTION COST IS“

Describe the possible Qualitative costs, you can identify and utilise to show “VALUE”, to your customers below?