This is the second in a two-part series on how to improve conversations during the selling process. You can read part one here.
One of the big challenges of selling PEO services to SMBs is that there are lots of misconceptions about how PEOs work, so oftentimes, salespeople spend too much time on things like demonstrating the solution and discussing the finer points of benefits plans. It’s natural to focus on the nuts and bolts, but the real key is in identifying and delivering the right value proposition to the business owner.
In my last blog, I talked about how it’s critical to elevate the conversation with the SMB prospect and to ask questions that further your understanding of the business owner’s challenges in delivering and managing HR services. Each salesperson’s approach is different, but I gave a list of questions I used when I sold PEO services – you can see them here <link>.
Identifying pain points can lead to a deeper discussion on how your products and services can benefit the prospect, but don’t stop there — communicating your PEOs true value is the key to success.
Use “is-does-means” to drive home value
One of the ways you can develop your own value proposition is to use the “is-does-means” method to frame your conversations.
Here’s how it works:
IS: Describe what your particular product, service or feature is in simple, easy to use terms
DOES: Describe how it works and answer any basic questions your prospect has
MEANS: Describe what it means to the prospect and his or her organization
- Increase productivity
- Reduce costs
- Maximize ROI
- Grow business
*Be specific! Incorporate quantifiable proof and cost savings, metrics and customer testimonials
Here’s an example of how an “is-does-means” conversation works when selling HR services. In this case, let’s focus on the particular use case of employee files:
IS: “Within our technology platform you’ll have an entire snapshot of each employee that contains their updated personal information, employment data, tax information and even a record of the property issued to the employee, like laptops and cell phones.”
THE DOES: “With a simple click of a mouse you will have access to your paperless employee filing cabinet, to be able to review your entire organization and use it to manage your employees in a central spot.”
THE MEANS: “That means you’ll have the paperless employee information you need for your company and your employees to be organized, compliant and centralized. For example, if you need to terminate an employee, you can easily collect all of the property ever issued. Centralized information gives you control, piece of mind and access to crucial employment data quickly.”
Probing questions and clearly communicating the value of your solution will let your prospect know that you are a trusted partner who understands his or her challenges, and ultimately, will lead to a higher close rate and a more satisfied customer.