Building A Strong Financial Justification

In-Company Course Overview

This sales training course will help individuals and teams to have a better opportunity to win larger sales by being able to outline to customers the financial benefits of doing business with their company. An understanding of financial benefits will enable customers to make more informed purchase decisions by having a better understanding of the financial justification for buying a company’s products or services rather than those of their competitors. The course is supported by a number of real company case studies, role plays and discussion.

Who Should Attend

Sales managers and representatives who need to present a financial justification as part of their sales efforts and who need a better understanding of financial terminology, tools and techniques to improve their communication with their customers’ or potential customers’ financial decision-makers.

Course Objectives

After attending the course, participants will be able to:

  • Understand financial terminology, tools and techniques
  • Read and interpret financial information contained in published reports
  • Understand the customer cost structures that are relevant to decision making
  • Understand the critical success factors and performance measures for different managers and business units and how to develop winning sales proposals that address those factors
  • Develop a cost/benefit analysis to support their sales efforts
  • Be more confident in communicating with financial managers about the financial justification for their company’s products/services.

Course Programme

Communicating With Financial People
From sales contact to financial decision
Identifying the key players
Communicating with financial decision-makers
Where does the financial influence start and finish
The accountant and the role of accounting in purchasing decisions

Reading And Understanding Financial Information
Reading and interpreting a company’s Annual Report
Understanding the Profit & Loss Account and Balance Sheet
Non-financial performance measures
Identifying the critical success factors for a business
Asking questions to obtain relevant financial information to support the sales effort

Using Financial Information To Help Customer Purchase Decisions
Different costs for different purposes
Fixed and variable costs
Lifecycle costs
Payback periods
Target costs
Relevant costs and opportunity costs
Estimating the customer’s cost of purchasing, production and inventory

Presenting Financial Information
Carrying out a cost/benefit analysis
Sorting the relevant from the irrelevant
Presenting a financial justification to support a customer purchase decision
Position value performance rather than product performance

Designing A Persuasive Financial Offer
Fuelling the client’s motivations
Framing the financial solution around the scope and strength of your offer
Communicating effectively your financial justification

Personal Development Plan
Developing an individual action plan for implementation back in the workplace

To see how this sales training course could help you win larger sales by providing a financial justification or to talk through your requirements, including tailoring this course to suit your exact needs, please contact:

Claudine McClean