In this episode, Nils welcomes guest Ian Campbell, author of "The Value Sale," to discuss selling value and quantifying ROI in sales.
They explore the concept of value and benefits using the example of selling alligators and delve into different levels of benefits.
Ian emphasizes the importance of grounding benefits in numbers, focusing on the top two benefits, and reframing the conversation to make it more relatable and impactful.
They also discuss the value equation in leadership development and the significance of focusing on payback rather than ROI when selling a product or service.
Tune in for more transformative discussions and redefine your approach to strategic selling today!
Podcast highlights:
0:44 - The alligator story - Ian shares an absurd example of selling alligators and how the value of the opportunity can change perception.
3:42 - Different levels of benefits - Ian explains the concept of first-order, second-order, third-order, and fourth-order benefits and how they vary in credibility and variability.
11:00 - Avoiding the fourth-order benefit - Ian advises against discussing fourth-order benefits as they can weaken the business case and recommends focusing on fewer, stronger benefits.
15:29 - Grounding benefits in quantifiable numbers - How does quantifying benefits in sales conversations help in upselling and building customer references?
18:44 - The significance of financial reasons for CFOs - Ian highlights the importance of presenting financial reasons to CFOs when selling a SaaS product and how it helps in defending the decision and gaining internal support.
20:58 - Value equation for leadership development - How to approach and communicate the value of leadership development, even though it may be considered a third-order benefit?
27:15 - Using a range instead of a benchmark - Ian shares the benefits of using a range instead of a single benchmark number to avoid pushback and allow for individualized discussions about productivity increase.
31:17 - Payback period - Ian discusses the significance of covering costs within a specific timeframe and the psychological impact it has on decision-making.
33:27 - Three real benefits for customers - Ian explains the three main benefits a customer can expect and how to determine which benefit is most relevant in a given situation.
Connect with Ian at https://www.linkedin.com/in/iancampbellnucleusresearch/
Check out his book “The Value Sale” at https://www.thevaluesale.com/
Learn more about Nucleus Research at https://nucleusresearch.com/
This episode is brought to you by the Leadership MBA.
The Leadership MBA is a 12-week comprehensive program that will give you all the practical tools you need to become a true leader and the CEO of your career.
The product of nearly 2 decades of leadership coaching Managers, Directors, and VPs at companies like Apple and Oracle, the Leadership MBA will show you exactly how to crack the leadership code through a proven step-by-step process.
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