5 ways to talk about risk with customers
Post on 21-Oct-2014
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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.TRANSCRIPT
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5 Ways to Talk about Risk with
Customers
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You’ve heard about building “fences” around accounts.
By doing this, you protect them from predators or wandering off
to other pastures
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Many companies build these “fences” with discounts, product features, service
offerings, etc.
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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.
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This is because they aren’t always aligned to the customer’s wants and needs…..their
buying process map
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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.
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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
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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.
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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
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3. Financial – What does your budget look like? • These concerns center on
implementation overruns.
5 Categories of Risk
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4. Operational• These are
concerns over potential business disruption during the transition to the new solution.
5 Categories of Risk
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5. Career (Optional 5th area of concern) – Concerns over the personal impact from the decision.
5 Categories of Risk
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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
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10 Ways Risk Discussions Help to Strengthen Your
Position
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#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.
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#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.
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#3 - Use the Risk Discussion Guide to help
organize the risks in a digestible way.
Additionally, each party is held accountable by the
agreements.
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#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.
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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.
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#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
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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.
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#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.
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#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.
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#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.
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Initiating conversations around risks may seem awkward at first.
Once you begin these discussions and see the benefits, you’ll discover the value.
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It doesn’t only help your customers
succeed.
It doubles as a sales technique for your organization, thus also helping you
succeed.
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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.
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Learn More
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