Exploring Why Customers’ Buy
Saves Money / Cost Reductions – So remember, Cost reduction is the process used by companies to reduce their costs and increase their profits. Depending on a company’s services or product, the strategies can vary. Every decision in the product development affects costs.
Now, Let’s explore how your product or service may potentially save your customer the valuable resource of money. Again, this could be a benefit you or your client may not have entirely explored. Consider ALL scenarios before minimizing this segment.
As a friendly reminder, be creative in thought. However, a point-to-note is that you MUST become intimately knowledgeable of your client’s processes and procedures to be able to clearly answer and address this part. If this information is not known, I implore you to do the work of interviewing the stakeholders at these organizations. You will thank me later.
As directed before, write down everything you learn about client “costs” even if there aren’t savings on all facets of the project. Once you prepare a cost analysis you may find that overall you have provided a significant cost reduction. This information is critical when preparing for your scheduled briefings (to be discussed later) take place.