Want to close more sales? Get more clients? Retain existing customers? We all do. One of the most underutilized selling secrets is identifying and addressing client’s pain points. Your clients all have challenges to overcome in their business. You may have to address them in order to win their business.
Figuring out an approach for closing a sale and getting more clients is one of the toughest things for a startup or small and medium-sized business (SMB) executive to do.
Figuring out an approach for getting a sale is one of the toughest things for an executive to do. Click To Tweet
Without an understanding of the client’s pain points, it’s almost impossible to close deals. If you can handle one or two of their pain points, with suggestions or actions, you will get their attention and their business.
No matter what industry your company is in or whether you are selling a product or service, knowing your client’s pain points and providing a solution will help you gain trust.
- It starts laying the foundation for a long lasting relationship.
- No need to heavy sell.
- Address one of their pain points and you will ultimately close the deal.
Dagmar Gatell, Chief Strategist at Sozial Monster, describes pain points as your biggest opportunity to create revenue. By identifying customer pain points, you recognize their real obstacles. Now you have the option to make them your biggest strengths by creating product and service solutions that help your customers to overcome these and to get more clients. Dagmar lists the number one pain point for startups and SMB’s as “Not enough money.” and number two as “Not enough time.”
Your Clients Lack Of Capital
Lack of Capital is the major pain point for SMB’s. It also gives them an easy and realistic reason to say no to buying from your company.
Your targeted prospect may be just scraping by on very little cash flow. If you are selling software, IT consultancy or new computers, odds are, if they are struggling with cash flow, they are not going paying attention to your sales pitch.
Want some attention?
- Research the product/service your customer sells.
- Think about your connections. I am sure you know of someone in need of what your client is selling or know someone looking for what they are selling.
- Take time to make the appropriate introductions, thus meeting other executives at your prospects company. All the time they are getting to know you and you are letting them know what product or service you represent. Make a few introductions and it won’t be long till you are invited in to pitch your stuff.
The law of reciprocity is alive and well in today’s business world. If you help enough clients by connecting and referring them business, the same will happen for you.
Always be on the lookout for opportunities to solve a customer’s pain point.
Your Clients Competitor Can Lead To New Opportunities
Your client also has competitors. This is another major pain point and your opportunity. If the product or services you are offering does not address and help your client overtake their competitor, odds are you’re in for a tough sell.
So how do you get your prospective client attention? Address their pain point—their competitor.
Overcoming The Obstacle Of The Competitor
At one point in my career, I was representing a small but fast growing agency. We pitched Fortune 1000 companies. Our offering was very limited and focused only on a few marketing tactics. We targeted one of the largest consumer goods packaging companies (CPG). They were the second largest company in their industry and the largest one, their competitor, was growing at a much faster rate.
Our small agency was always pitching against major agencies. We needed to find a way to overcome the obstacle of being perceived as a small agency with limited resources. In meetings with executives from the CPG, we learned that the tactic the competitor used consisted of aligning their promotional marketing with Pixar. This alignment led to increased shelf space and sales. Pixar was founded by Steve Jobs, utilized state of the art computer animation and was home to Toy Story, Finding Nemo, Monsters, Inc, etc and a major pain point for our potential client. We left their headquarters knowing they really wanted Pixar as a marketing partner.
I knew if we had any chance of getting their business, we would have to help them overcome the “competitor pain point”.
Going through my Rolodex, I realized that a number of my contacts from Mattel, Disney, Warner Bros, and Lucas Arts were now at Pixar. After a few phone calls, the CPG executives and I were on a plane to Oakland. Two days of discussions and the CPG had their marketing partner and we had a new CPG client. Our agency’s talent pool was not necessarily better than our competition. We just addressed the client’s pain. Be a connector and get more clients
Believe and Get More Clients
Believing in yourself and your product/services can be the single biggest challenge for entrepreneurs and small businesses. To really believe that clients want and need what you have to offer, goes a long way in establishing your persona. In the marketing departments, they say “Content is King”; in sales departments, I would say “Confidence is King”.
Remember the reasons you were so passionate about your company to begin with?
They still hold true. If you can ease your customer’s pain, lessen their challenges, resolve their struggles or just give someone something that feels good, you are needed and your product or service wanted. Believe in yourself. It is the way to get more clients.
The rules of selling are to add value, educate, then sell.
But what if you could also solve a potential customer’s pain point? Then you added immeasurable value.
Best of luck from the Sozial Monster team.
Have you ever used any of these tactics to get more clients? What are your tips for overcoming customer pain points? Please share your thoughts in the comments below.