This is the fourth in a series of short inspirations to help tech-entrepreneurs weather the uncertain times and come out stronger as a consequence.
In the previous posts, we’ve discussed three core criteria to make an impact in uncertain times: Sniper focused segmentation, positioning combined with a strong ability to cut through the noise. These three ingredients allow you to make the most significant impact for your customers and thus for your organization.
However, a common rule in software sales is that long sales cycles occur when you leave people without a reason to make a decision. This rule is possibly even more apparent in uncertain times. More than ever, your offer needs to be a no-brainer.
When we face uncertainty, however, we tend to delay taking action rather than accelerating it. We become overly risk-averse and cautious. We realize we can only spend our money once – and this makes us hesitant.
That’s a massive opportunity. We can accelerate decision making by making an orchestrated effort to take out the risk around the deal and exceed expectations in creative ways without giving our value away.
Here are some examples shared by Tech CEOs in my tribe and network.
- Ritse Klink, Co-founder and Chief Revenue Officer at Beezy, a vendor of Intelligent Workplace solutions, shared how they are offering flexible terms with success. Customers that bet on their platform to make their workforce more connected, productive, and happy get to enjoy it straight away and pay for it later. For many organizations, their solution has turned from ‘important’ to ‘mission-critical’ the last weeks – and these flexible terms make their offer a no-brainer.
- Roland Hallebeek, CEO of Scotty Technologies, a vendor that automates phone calls, emails, and chats, went one step further and embarked on a business model that’s differentiated by a ‘no upfront cost’ approach. Their approach enables customers who sign up to enjoy remarkable value in a matter of just a few days, and at the same time, only pay on a ‘per call /per chat’ basis. This approach returns a clear ROI right from the first call both in monetary terms, as well as in customer satisfaction scores. Again – a no-brainer offer.
- A third example of creating a no-brainer offer is from Olin Hyde, CEO of Leadcrunch, a vendor that uses data science to improve B2B targeting. Their customers get leads that look mathematically like their best customers across 20.2 billion data points. In itself, this is extremely helpful in times like this. However, Leadcrunch doesn’t stop here. They combined the power of their product with a no-brainer business model: Customers don’t pay for output, but the outcome. What this means is this: a look-alike customer they can call directly because it’s pre-qualified, or even an appointment ‘on a plate.’ What Olin told me is that it’s common their customers see triple-digit relative increases in pipeline, and significant increases in lead conversion rates and return on investment. Companies experience a significantly reduced sales cycle, as well.
These are just three examples of what you can do to take out the risk around the deals in your pipeline and exceed expectations in creative ways without giving our value away.
As a gesture, Olin Hyde shared a free AI tool his team has created to help every one of us get a better understanding of where to focus our attention business wise. This goes back to the essence of the first post in this series: Sniper focused segmentation.
Good luck – be creative – think about how you can amplify the value of your software solution by packaging it in such a way it becomes a no-brainer for your customers. Think about what you could do differently that’s worth making a remark about – it might as well accelerate your momentum.
On another note – consider this: Together, we are stronger – that’s why I established the Remarkable Effect tribe for Tech-Entrepreneurs-on-a-mission. If you are such a tech-entrepreneur, on a journey to do something big and meaningful: you’re invited. Find your peers, explore new paths, test your assumptions and sharpen your thinking. Become part of something larger than yourself and weather the storm together: https://movement.valueinspiration.com.