Business pushes ahead. In spite of the craziness we’ve seen this year and the uncertainty we still feel for what’s coming, companies are stabilizing, growing, and even making new deals.
Certainly, the pandemic has tightened budgets and delayed projects, but money is still flowing, and relationship-building and sales will go on. While some things have changed, some factors will always stay the same.
The 4 factors that affect every business deal are:
Credibility
Capability
Chemistry
Cost
When presented well, things come together! If they're not clearly communicated and aligned, things fall apart. Especially in the current, limited-contact environment, doing this right is critical to your deal.
Part 1: Credibility
First, your prospect must know who you are and what you do. This is the goal of great marketing, to get the right message to the right person at the right time so they can decide if they would benefit from your service. The key is to present it in a way that breaks through the noise to get their attention and is compelling enough to get a response.
Part 2: Capability
Next, you must communicate that you can do what you say. Your prospect’s looking for indicators that you’ve done it before, and can do it again, especially on a similar project or with a similar client. The fastest way to convey capability is to present something like, “We’ve done excellent work with Adidas and Reebok and now we’d love to work with you at Spalding.”
Part 3: Chemistry
This is the most elusive element of the sale. You have to want to work together. And notice that it’s a two-way street! Typically in a short conversation, however you’re achieving that with social distancing, you can determine if this relationship will be a good fit. You’re not looking for a BFF, but someone you respect and trust. It also is the check-in on the Credibility and Capability factors to ensure everything is on the level.
Part 4: Cost
The flip side to Chemistry, Cost is typically the most flexible aspect of the sale. If you understand the service they want, and they know you can deliver it, there are many ways to reach an agreement on the appropriate compensation. Make it a fair deal and be upfront about unknowns and this should be pretty standard negotiation. If they value what you do, they’ll find a way to afford what it costs.
Make the Deal
What we’ve found interesting at Relevant is that the first 2 parts of the deal can be done without you, the seller, even needing to be there. What? By narrowly targeting your marketing to who you want to reach, you can basically eliminate wasted time and marketing dollars. Only talking to people in the industries where you have proven capability leads to staggering credibility that can be supported by case studies and client testimonials.
Boom! If your prospect gets the message that you can do what they need and have done this kind of thing before, they can make the decision to pursue the deal or not. The Relevant System automatically puts the information they need in front of them to know you’re Credible and Capable so you’re worth the time to set up a call. Then, Chemistry and Cost are up to you!
To learn more about the Relevant System and how it can be custom-built to deliver your most qualified prospects directly to your inbox, schedule time with me here.
