5 Ways to Talk about Risk with Customers

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Does the thought of talking about risk with your clients cause a panic attack? Learn the 5 categories of risk as well as 10 different ways to address the topic of risk with your customers.

Does the thought of talking about risk with your clients cause a panic attack? Learn the 5 categories of risk as well as 10 different ways to address the topic of risk with your customers.

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  • 1. 1
  • 2. 2 You’ve heard about building “fences” around accounts. By doing this, you protect them from predators or wandering off to other pastures
  • 3. 3 Many companies build these “fences” with discounts, product features, service offerings, etc.
  • 4. 4 Many companies build these “fences” with discounts, product features, service offerings, etc. While these are good approaches to account management, they often don’t protect company interest.
  • 5. 5 This is because they aren’t always aligned to the customer’s wants and needs…..their buying process map
  • 6. 6 A second option is to build a “fence” by adding further value to your customers. One technique in this vein is by discussing risk with them.
  • 7. 7 Sign up for SBI’s 7th annual research tour: “How to Make Your Number in 2014: A Sales Strategy You Can Execute” It is an onsite session with you and your leaders. By participating, you also receive our Risk Discussion Guide
  • 8. 8 5 Categories of Risk 1. Talent – Do you have the talent you need? • These are concerns over your staff’s ability to adopt and manage the solution. • If they can’t carry out your sales strategy, they are a risk.
  • 9. 9 2. Execution – Can your goals realistically be hit? • There are often concerns about whether the desired implementation timeline can be met. 5 Categories of Risk
  • 10. 10 3. Financial – What does your budget look like? • These concerns center on implementation overruns. 5 Categories of Risk
  • 11. 11 4. Operational • These are concerns over potential business disruption during the transition to the new solution. 5 Categories of Risk
  • 12. 12 5. Career (Optional 5th area of concern) – Concerns over the personal impact from the decision. 5 Categories of Risk
  • 13. 13 Sign up for SBI’s 7th annual research tour: “How to Make Your Number in 2014: A Sales Strategy You Can Execute” It is an onsite session with you and your leaders. By participating, you also receive our Risk Discussion Guide
  • 14. 14 10 Ways Risk Discussions Help to Strengthen Your Position
  • 15. 15 #1 - Create a clear understanding between both parties on the potential organization risks and rewards. This type of visibility informs you with additional buyer insight or future sales.
  • 16. 16 #2 - Assure a smooth implementation for your customers. - This makes everyone look good, and feel productive. - It increases the chance that the customer will buy from you again.
  • 17. 17 #3 - Use the Risk Discussion Guide to help organize the risks in a digestible way. Additionally, each party is held accountable by the agreements.
  • 18. 18 #4 - Help the customer address potential risks. By doing this, you officially establish your company as partners in their business. The fact that you are invested in their success can go a long way.
  • 19. 19 In this role you’re able to offer sound warnings. Furthermore, you can help the customer change direction if need be. #5 - Separate yourself from the competition by serving as a positive change agent.
  • 20. 20 #6 - Collaborate on the Risk Discussion Guide jointly, and make it a living document. It can be tweaked and updated to keep everyone aligned and aware of
  • 21. 21 This helps diffuse conflict and stress that may arise when a risk is realized. By pinpointing risks sooner, your customer becomes better prepared to deal with it. #7 – Facilitate a proactive discussion.
  • 22. 22 #8 - Make your customer look like a rock star. By addressing risk, you allow your customer to appear proactive. As a result, they’ll trust you as a partner. Partnerships lead to repeat business.
  • 23. 23 #9. - Insight gained from risk discussions can be shared internally with your team. This will help to eliminate or mitigate risks before they become a problem.
  • 24. 24 #10 - As a joint record of risk, use the Guide to reference successes and failures. Leverage this information to make improvements, identify best practices, and flag hazards.
  • 25. 25 Initiating conversations around risks may seem awkward at first. Once you begin these discussions and see the benefits, you’ll discover the value.
  • 26. 26 It doesn’t only help your customers succeed. It doubles as a sales technique for your organization, thus also helping you succeed.
  • 27. 27 Don’t be thrown off by some customer resistance to the idea. Using the Risk Discussion Guide expands your abilities and value. Make it part of your standard operating procedure, and customers will appreciate it.
  • 28. 28 Learn More If you don’t have a content management process or need help optimizing your current one, Contact us to hear the rest of the story... Email - info@salesbenchmarkindex.com Phone - 1-888-556-7338 Web: http://www.salesbenchmarkindex.com Enjoy the SlideShare? Don’t miss the next one! Click to follow us on SlideShare Sign up for our Sales Force Effectiveness blog by clicking here For access to this original blog article, and many more; click here