Jun 16, 2008

Why Does the Fee Becomes a Front-End and Back-End Problem?

At the end of the day the following occurs. Your prospect tells you that they, "Want to think about it," when in fact what they are really saying is that they want time to compare! They want to compare your features and benefits with that of the incumbent and others you compete with. Hence, what becomes the differentiating factor in the eyes of the prospect? The fee.

Now here comes the second wave, if the first is not bad enough. Your prospect now begins to ask you questions. Maybe the following will ring a bell. How are you going to handle problem x, y or z? Tell me specifically how you intend to deal with...? You know, I think I am going to have to check you out. In fact, I think I am going to need some references.

Now the burden has shifted to you. Where is the focus? Is it on their problems, or on you, your features and benefits and how you would handle their hypothetical problems? These are not bad questions. If you are not hearing these questions, chances are you are not even in the game. These questions are actually being asked by the prospect to de-commoditize you—a condition you never should have caused!

expand_less