it@cork

TechSceneNYC

A blog by MarketSprint's CEO, Niamh Bushnell.

Hello everyone! This blog offers an insider's view on what's going on in the New York Tech scene. I'll be reporting on events I've attended, trends I'm observing and I'll also interview some key local players to give you access to their perspectives.

Please e-mail me at TechSceneNYC@MarketSprint.com if you have industry topics you'd like me to cover, questions or just to say hello.

Happy New Year everyone!
 

For this month's post I'm sharing my contribution for the new book "101 Questions about Launching your Business" soon to be published by San Francisco based Women 2.0.

I'm answering the question "How do I talk to potential customers?" I hope you enjoy it.

How do I talk to potential customers?

Believe me, early sales are pure relationship sales. You're the visionary, they're the early adopter and if you have what it takes to sustain this dynamic the sale will happen.

A genuine and persistent curiosity about your customers' work is a great starting point but the magic happens when you've figured out how to translate your solution into a solid prescription for their pain.

It takes time and experience to perfect customer conversations but hopefully the below is a useful guide for those of you just starting out.

• Sell your vision - The vision is always more important than the nitty gritty of the product so make sure you've connected with your customer on the vision first, the rest will follow.

• Establish your street cred - You don't have to be an industry veteran or even an industry insider to have credibility with a new customer. Early on, tell them about yourself; where you've worked recently, big name clients or innovative projects you've worked on, investors you're working with and anything else that will help establish you as successful and capable in their minds.

• Come armed with value - Before each potential customer meeting, research the person and their company. Then sit quietly for a moment and ask yourself - what can I say or do to bring value to this person immediately? What insights can I deliver to them, what resources can I share with them? How can I help them right now?

• Ask a little, listen a lot and then pitch - Establish your customer's key pain points or motivations for the discussion first. Then customize your pitch using examples that are compatible with their worldview and experience.

• Show don't tell - It's important to steer clear of formal, lecture like presentations. Instead, look for opportunities to use a visual aid like a demo, an infographic, a photo or a pie chart, or even a couple of customer logos to emphasize a point of importance.

• Be confident - You might not be an expert but that doesn't mean you don't have something of value to discuss. Be well prepared, respect your customer's time, ask all of the "stupid" questions you want to ask and enjoy the smart exchange of ideas.

• Ignore initial objections at your peril - If not, they'll come back to haunt you in a never-ending sales process death spiral! If yours is a hosted solution and your potential customer says, "We generally like to keep applications behind the firewall" do yourself a favor and find a new early adopter customer. There'll be time (and resources) enough to tackle this particular opportunity again later.

• Understand your customer's buying process early - Develop a clear and realistic view of the hurdles involved in selling to this organization as soon as you can. Try asking about other solutions they've purchased, young companies they are working with, the steps they would follow if they were interested in engaging with your company. Active listening will help you immensely here, not only to get a sense of the sales cycle but also the potential of the person to bring the deal over the line for you.

• Talk money without fixing a price - The topic of money brings lots of focus to a conversation. Its helpful to get some sense of the value you're offering even if you're still figuring out your price or pricing model, so talk estimates, ranges, and potential payment structures, then pay close attention to the verbal and non verbal reaction.

• Always be open to learning something new - Take the time to explore outside the realm of your solution to get a deeper insight into your customer. Ask them about other solutions they are buying or would love to buy right now if they had the budget. Be genuine in your desire to understand their work.

• Act human - Use humor, anecdotes and personal insights where appropriate to allow the relationship connection to be made quickly and solidly.

• At every moment be professional - A high level of professionalism and consistency in your communications will give your customer the confidence that you can deliver a winning solution regardless of how many road bumps you both hit on your way to the finish line.

All the best meantime, Niamh