Relevance is Situational
Relevance is Situational
Relevance exists when the buyer's context or needs correspond to the seller's solutions. As buyer context shifts away from seller value proposition, uncertainty reduces relevance, upsetting prior matches. Examples of signs of decreasing relevance involve:
-?????????Slow sales pipelines
-?????????There are fewer new customers in the pipeline
-?????????Sales cycles that are longer
-?????????Buyer and customer engagement is declining
-?????????Reduced belief in the ability of sales teams to achieve their objectives
Disruptions, Unpredictability, and Relevance
The current economic turmoil (inflation, interest rates, skill gaps, and so on) raises unpredictability and decrease the relevance of possibilities and commitments. Customers question the legitimacy of their plans and commitments when the signs are irrelevant.
Image Concept Inspiration: Gartner
Customers cannot or do not want to hear you!
Providers may become tone deaf If your customers are unable to see the value of your products and services, you are failing to recognize a shift in context. Tone deaf service providers have used one or more of the following methods:
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Blame: If they can't see the wisdom and value in our products, they might not be the right customer. The issue is that if we cannot find the right customer, or if the right customer does not exist, we may go out of business.
Fear: Create fear, uncertainty, or doubt - FUD - to convince them that your option is the best way for them to not fall behind. This is the definition of trend marketing and hype control.
Educate: We will invest in attempting to teach them why our products and services are superior in value, align with market trends, and thus should be a no-brainer to purchase. The Syms paradox states that "an educated consumer is our best customer." Too frequently, an educated consumer recognizes a better alternative as they gain a better understanding of their needs.
Offers & Discounts: If they can't see the value, let's reduce the price until it matches their value. This strategy, in addition to creating a commodity trap, cheapens the product and your brand unnecessarily. Consider the following scenario: do you really want to involve the cheapest company or their products in a critical strategic initiative?
Incentives: Assume that it is the sales team's fault that customers cannot see the value. People will only do what you pay them to do. Give them more money so that they will work harder, persuade customers, and close deals. After all, coffee is for closers, but all too often, this results in marginal business and lower quality revenue.
Instead of focusing on how to make the company right, consider how we can provide the customer with what they truly require - what is most relevant to them, their situation, context, values, and so on.
New Context, New Relevance, New Business
Each customer and their current situation is contextually relevant. This is especially true during times of uncertainty. Uncertainty reflects turbulence caused by multiple forces, factors, and changes that are open to interpretation.
Listening necessitates engagement, so reach out to customers and prospects on your own initiative. Rather than attempting to position or sell something, reach out to learn where things stand. Consider what customers are saying, what they are not saying, the broader market context, and so on. Relevance is built on comprehension and empathy. Create messaging and communicate clearly in the context of the customer. Speak clearly, provide examples from other customers, and quantify your points as much as possible. Plan for a discussion rather than a debate. Remember that what you say isn't as important as how you say it, where you say it, and what you expect from the customer.
Relevance Not Magic Words
Building relevance is a conversation, not a message. Listen again and repeat the process to create the dialogue that leads to comprehension. These are the essential components of increasing your relevance, especially in uncertain times.