Strategic, Sales Ready Messaging
Throughout my time in enterprise software, I have seen 3 major obstacles to effective messaging and sales conversations.
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1. Companies talk too much about their products, and not enough about why the prospect should even care in the first place
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2. Companies position modules and point solutions, instead of a broader and more strategic vision for the prospect
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3. Long, boring, and meandering elevator pitches. Do you lose your prospect in the first minute?
I have highlighted a few of the major messaging transformations I have led in my career.
Retail Price Optimization
Challenge:
Company's previous message about Markdown Optimization did not resonant and made it difficult to reach top executives.
Solution:
Broadened message to Merchandise Optimization, where retailers could make better buying, allocating, promotions, and pricing decisions across the entire product lifecycle.
Result:
Engaged retail executives on their most important decisions, which were making the pre season buying decisions, and then linking the importance of Markdown Optimization to those decisions.
Public Utility Accounting
Challenge:
Previous messaging of Asset Accounting and Tax make it difficult to develop urgency and differentiate from SAP
Solution:
Moved message from modules and product focused to an "office of the CFO" message. Instead of specific modules, they talked about "Capital Lifecycle Management", where their expensive assets can be tracked and accounted for across time and department.
Result:
New message and term made it easier to engage the CFO and VP Regulatory, since a Public Utility makes money based on a negotiated rate of return on their assets. Deal sizes increased dramatically due to. the strategic nature of the solution.
While every company is different and faces different messaging and sales challenges, companies that can get to the "why" and the "business problems" quickly and efficiently will resonate better with their executives sponsor.
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They key is to start with the executive(s) you want to target and then move backwards to your solution, versus trying to get executives interested in the details of your solution.