How do you use customer decision criteria matrix to qualify and close more sales opportunities?
How do you use customer decision criteria matrix to qualify and close more sales opportunities? If you are a consultative seller, you know that understanding your customer's needs, goals, and challenges is crucial to offer the best solution. But how do you capture and prioritize the criteria that your customer uses to make a buying decision? And how do you align your value proposition with those criteria to increase your chances of closing the deal? That's where a customer decision criteria matrix comes in handy. In this article, we will explain what a customer decision criteria matrix is, how to create one, and how to use it effectively in your sales process.
A customer decision criteria matrix is a tool that helps you identify and rank the factors that your customer considers when evaluating different options to solve their problem or achieve their desired outcome. It can also help you compare how your solution stacks up against your competitors and highlight your unique selling points. A customer decision criteria matrix usually consists of a table with the following columns: criteria, weight, your score, competitor's score, and gap. The criteria are the features, benefits, or requirements that your customer values, such as price, quality, service, or reliability. The weight is a numerical value that indicates how important each criterion is for your customer, usually on a scale of 1 to 10. The score is a numerical value that indicates how well your solution or your competitor's solution meets each criterion, also on a scale of 1 to 10. The gap is the difference between your score and your competitor's score for each criterion, which shows your competitive advantage or disadvantage.
To create a customer decision criteria matrix, you need to conduct thorough research and discovery with your customer. Sources such as online reviews, industry reports, social media, surveys, and referrals can provide insight into what your customer is looking for and who they are comparing you with. However, the most reliable way to gather the data for your matrix is to ask your customer directly. Open-ended questions like “What are the main challenges or problems that you are trying to solve or avoid?” and “What are the desired outcomes or results that you are looking for or expecting?” can uncover the explicit and implicit criteria that your customer uses to make a decision. You can also validate or challenge any assumptions or misconceptions about your solution or competitor's solution. After collecting the data, you can fill in the columns of your matrix accordingly. Ask your customer to confirm or adjust the weights and scores assigned to each criterion to ensure an accurate and objective representation of their decision process.
A customer decision criteria matrix can be a powerful tool for different stages of the sales process. In the qualifying stage, you can assess if your solution is a good fit for your customer's needs and goals, as well as identify any gaps or risks that may prevent them from choosing you. You can then decide if you can close those gaps or risks by adding value, offering discounts, and providing guarantees. During the presentation stage, you can tailor your presentation or proposal to your customer's decision criteria, and emphasize how your solution meets or exceeds their expectations. You can also create a sense of urgency and scarcity to persuade them to act quickly. Lastly, in the closing stage, you can use the matrix to summarize the value proposition and the business case for your solution, as well as ask for feedback or action from your customer.
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Not all companies know how to buy software effectively! This leads groups to using criteria like: - Cheapest - Best UI - Easiest onboarding As a seller sometimes it can be beneficial to the buyer for you to suggest additional criteria such as: - Solves the problem the best - Longterm solution vs short term fix - Provides clearest ROI to CFO As selling and buying become more complex you need to understand why the CFO should sign, why they shouldn't, and what alternatives should they consider that are not you. Consult. don't sell.
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