Business development conversations with a business executive

I can help you craft a compelling argument based on the economic value of your products or services to use during B2B business development conversations with executives.

The idea behind using the concept of economic value is to demonstrate how your offering will improve their bottom line.

Here's what you need to know.

Firstly, define what we mean by "economic value." This refers to a product or service's benefits relative to its costs. This usually translates into cost savings, increased revenue, or both for businesses.

When discussing economic value in B2B contexts, go beyond just examining the features and attributes of your products or services. Instead, focus on showing how your offerings will help address specific pain points or challenges the business may face.

To do this effectively, you'll need to conduct some research beforehand. Look into the company's operations and identify areas where they may be struggling or where there is room for improvement. Then, tailor your message accordingly.

One common approach is to present a business case that outlines the potential cost savings or revenue gains that could result from using your product or service. For instance, highlight how your solution has helped other businesses reduce employee turnover rates by 30%, resulting in significant cost savings. Or you might show how adopting your technology could increase production output by 15%, leading to higher revenues.

Another critical aspect of using economic value in B2B conversations is backing up your claims with factual data and evidence. Ensure you have access to reliable metrics and case studies supporting your arguments.

It's also crucial to speak in terms that resonate with executive-level decision-makers. This typically means focusing on big-picture concerns like profitability, market share, and competitiveness rather than getting bogged down in technical details.

Of course, only some conversations will lead directly to a sale or partnership deal. In some cases, you may be planting a seed for future opportunities. In these situations, it's crucial to maintain a long-term perspective and build relationships with key decision-makers.

To summarize, economic value is an essential concept that can help you establish credibility and win over business executives during B2B development discussions. By demonstrating how your product or service can generate cost savings or increase revenue and backing up your claims with data, you'll be well-positioned to make a strong case for why they should do business with you.