While you’re laser-focused on stakeholders and buyers, you might be missing the financial beneficiary – the real MVP who gains the most from your solution. This video illustrates how to spot this often-overlooked player.
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In working with sellers in the past couple of years, I've come to realize that there's a missing person most people are forgetting about in the sales cycle. While they're really focused on the stakeholder and the buyer who's in charge of implementing their solution, they're forgetting to talk to the person who is going to reap the financial benefit from the solution being implemented. The financial beneficiary, the winner who is going to take responsibility and get credit for all the extra revenue you're bringing in or the time that you're saving people. And you know they're not always the same?
I'll give you an example. I'm working in the finance world with some people who have really great solutions to help, reduce the amount of fraud, let's say, in a transaction that a bank might have. Well, who is the financial beneficiary of that? Sure. The tech team or the fraud team or the compliance team or the legal team is charged with fixing the problem and implementing it, but who actually benefits from that financially?
Is it the loan officers who can produce more positive loans? Is it credit card issuers who can have better paying customers? Is it the bank manager? Is it the regional manager? But who is it?
Is there a sales person or a sales manager who's in charge of making sure that that bank can secure even more high value revenue? That person has a financial stake in the solution. And every single one of you that sells a solution that helps save a customer time or saves them money needs to get at that financial beneficiary.
So ask yourself who is winning as a result of this? Who gets the money? Who is the financial beneficiary or the financial winner in the solution and make sure you engage that person as well.
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