3 min read

Defining your Commercial Solution and its Challenges

Posted by ProsperoHub on October 7, 2019

When you are looking to market your commercial solution or value proposition, it would be almost business suicide to not to look for problems.But whose problems are you looking for?

The answer is simple: both yours and your potential customers!

Just like the old chicken and egg dilemma: the fact that we even have a value proposition to take to market is dependent on an understanding that someone, somewhere, has a problem, regardless of whether they know it yet or not. Really understanding your potential clients and the challenges they face can often be the problem we have with our solutions, as their problems become our problems. But how do we begin to define our commercial solution? 

Work Backwards from the Problem

How do we create a service that people want to buy? A good starting point is using the Jobs-to-be Done Theory. All companies have jobs that need done. They exist to solve an issue and do a job. The question you need to ask is: How does my solution help them do their job better? What problem does my solution solve? If we work back from that premise then we innovate at greater speed and have a solution that is wanted by prospects.

Take Amazon as an example.

“It begins with the customer’s problem and works its way backwards to identify the technology that will help solve it. As a result, product development teams at Amazon create the future their customers need.”

Forbes:

Amazon defined the problem and innovated to resolve that issue. Defining the problem you solve presents a clearer picture of defining your commercial solution.

Remember, great services solve problems that formerly had only an adequate solution, or no solution at all. 

Know Your Target Market

Once you know the problem you wish to solve you can build your knowledge of that market segment, their common questions and challenges. Understanding your customer is the core part of marketing your value proposition.

Once identified, you need to get to know your buyer personas. Learn everything about them. Ask yourself key questions. What job roles do they have? What lifestyles do they lead? What is their buying processes and level of autonomy? Do not set your buyer personas in stone, the market naturally changes. Continue to develop and evolve your Buyer Personas with time.

But most importantly, you must know the one thing that binds them all together – their problem.  

Now, Understand Their Challenges

Understanding the challenges your potential customers face on a daily basis is vital in defining your solution. If you cannot adequately put a voice and context to their struggles how can you be sure that your solution is the answer they need and want? And how can they trust that you have the solution?

Alternatively, your potential client may be unaware that they have a problem, stuck with time consuming daily tasks and processes this can be simply overlooked. Or, they might realise that tasks are long and tedious but have resigned themselves to the grind. These are the prospects that need you to show them a well-defined solution to the questions they didn’t even know it was possible to ask.

Know Your Solution

You have spent hours upon hours living and breathing your product or service. You know it inside out, how it performs, how to get the best out of it, its strengths and areas for continued improvement. You’ve put the time in, and you know every detail about your product or service.

A potential customer doesn’t have that insight, so when you’re answering questions like ‘What does it do?’ or ‘How does it work?' it is important to remember that they have not been present for the same journey. Consider the highlights that will grab their attention within the technological terminology they use. Give them what they want to hear in a language they will understand.

Know How to Communicate your Solution

Standing out in today's over-stimulated marketplace is a challenge. To rise above the white noise present your service in a clear, concise, easy-to-understand format with your USP's front and centre. 

Consider how you will distribute your defined solution, on what platforms and how you can use inbound marketing to create leads. It makes little sense knowing that your future customers spend their commute to work catching up on emails but not optimising your carefully crafted email for mobile consumption. Or spend valuable resources creating a social media campaign for Facebook when your potential customers spend most of their time on Twitter. Knowing your Buyer Personas will help clarify what channels your prospects are most active on.

Conclusion

Defining your commercial solution can be tricky, but in the end, there are just four things you need to consider: understanding the problem your solving, knowing your target market, knowing their challenges, and knowing your own solution

Understanding your commercial solutions and how you help clients overcome their challenges is the first step in predictable revenue growth. If you would like to learn more about how ProsperoHub can support you in delivering predictable and improving revenue,contact us today!

 

Topics: Value Proposition, Marketing, Business Development, Target Market, Growth Strategy, Pipeline Growth, Digital Transformation

Sign-up to our newsletter