Everybody has a product. Everyone has an offer and a perspective. But the one that matters is the perspective of a customer. The philosophy of the customer is quite simple – Is the value that you’re delivering to me worth more than the money that’s in my pocket? That’s it.
But, unfortunately, what happens in most companies is that when it comes to understanding their value proposition from a customer’s standpoint, they guess. And they like to guess because they have industry experience or technology experience or whatever.
However, the reality is, when they put a product out there, it’s a hypothesis. So mostly a sales pitch starts with something on the lines of – ‘Look at our product. We are great at doing A, B or C. And we are different from our competition because of x, y and z. Blah blah’
Yes, they might say super specific things, but the real problem is they never ask customers. Most sales pitches are never derived from customer’s words. One of my favourite sayings is –anything that doesn’t come from a customer’s mouth is nothing more than educated guesswork.
Why do I say that conviction? It’s because I was smacked in the face. In the last 17 years, not once, what the companies considered as their value, matched with what the customers value. And that’s why I believe that companies expose themselves to a tremendous amount of risk when they start with ‘I have a product.’
So, how do we fix it?