Don Dodge wrote a great blog post titled Is your product a vitamin or a painkiller? This is actually quite an old post, but old as in golden.
When a Vitamin becomes a Painkiller
- What catalyst or event causes your prospects to actively seek your product or solution?
- When you look at all the sales you have won versus all the sales you didn't win, what was the main reason?
- Did they buy a competitive product, or not buy anything and just continue business as usual?
- Identify the key pain points and how your product solves them in a simple value proposition
- There are sometimes "trigger events" that cause these pain points. These "trigger events" cause your product to convert from a "vitamin" to a "painkiller" for customers.
- Qualifying your sales leads by trigger events and pain points will help focus your sales and marketing efforts and result in much higher win ratios.
- Make a list of the pain points your product solves.
- Make a list of trigger events that cause the pain to happen.
- Think about how to identify these "trigger events" as they happen among the hundreds or thousands of potential customers.