How much money will I make or save if I invest in your product and services?
That’s the ROI question. And it’s a critical one in the eyes of your prospects and their fellow decision-makers who need to sign off to get a deal approved.
Do you have an answer? Do you (or your prospects) like and believe your answer?
If not, you may benefit from a resource that helped open our eyes about the concept of ROI, and that can help you craft an answer that works for you--and your prospects.
“What’s the ROI of Business Wise?”
It’s a question that’s been asked and answered thousands of times since we were founded in 1980.
While there are multiple approaches to the math that have satisfied our clients, to me, the numbers never actually got to the real essence of (or truth about) our solution.
If you’re not familiar with Business Wise, we offer a new business development database that our customers use to identify and connect with high-value prospects in their local market. As the only company that locally researches all of the businesses in our footprint, we provide our clients with data they can trust.
Like so many other tools, your ability to succeed with Business Wise depends on how you use it. And different kinds of customers use it in different ways as they connect with targeted prospects by phone, in person, postal mail or email.
So when prospects asked us, “What’s the ROI of Business Wise?”, we wondered how to launch into the conversation by saying something other than “it depends.”
Then, we came across this excellent slideshow by the highly successful internet entrepreneur Gary Vaynerchuk:
Redefine ROI for Yourself and Your Prospect
For a business like ours (and perhaps like yours), the ROI question is so hard to answer because there is no one answer, at least in terms of dollars and cents.
But if you help reframe the concept, you can inspire and empower your prospect to create their own ROI.
“ROI is never about the tool.”
Help your prospect understand that, and she’ll instantly see the possibilities offered by your product in a new light.
And instead of fixating on an elusive number, your prospect will see possibilities that you—and your product—can help them achieve.