How To Identify LMS Selling Points And Win Potential Customers Over
Why should prospective buyers choose your software over others on the market? Answering this seemingly simple question involves a great deal of research and reflection. You have to take a closer look at your Learning Management System and figure out why it’s a worthwhile investment. Software buyers are working with limited resources. So, your LMS platform needs to win them over before the competition takes your place. Here’s how to identify the main LMS selling points.
1. Make A List Of Your Most Popular LMS Features
One of the first things that organizations zero-in on is the list of LMS features. They want to know what they’re getting for their money. Namely, how your product’s perks will help them achieve their goals. A majority of your LMS selling points should revolve around the most popular features you provide. For instance, your LMS supports multiple languages and has geolocation features. Therefore, one of your unique LMS selling points might be that your product takes the stress out of localizing online training content.
2. Identify Your LMS’s Most Notable Benefits
Once you have your list of coveted LMS features, it’s time to connect the dots and link each item to a practical benefit. What does your LMS provide that others do not? What are the advantages for each client group? Start-ups and established Fortune 500 companies will have different training needs and challenges, which means that they’ll also be looking for different benefits within their new LMS.
3. Tap Into Consumer Pain Points
This step in the process involves market research. You must identify the primary challenges facing your target audience and figure out how your Learning Management System provides solutions. Poll your prospects to find out what they dislike about their current LMS and why, or what made them purchase a replacement product in the first place. You can also inquire about the obstacles that plague their organization and prevent them from achieving their training objectives. Then use this data to create customized LMS selling points that tap into each pain point.
4. Research The Competition
There are probably a handful of LMS vendors that are competing for the same client base. They’re in the same niche and offer similar features. Look up reviews and ratings to discover why they are successful, or why clients are dissatisfied with their product or service. Their weaknesses can help you identify your strengths and formulate strong LMS selling points. For example, a particular LMS vendor falls short in the customer service. You can promote your one-on-one support services and active user community to differentiate your LMS from the rest. Study your competition, create a trial account, see where they excel and where they fall short. On your next pitch, you will be much better educated if a customer from an LMS you've studied thoroughly wants to do the switch.
5. Look At Your LMS Product From A Different Perspective
Step inside the shoes of your target audience and see what stands out about your system. In some instances, LMS vendors may be too close to their product. They’ve developed it from the ground up and are emotionally invested. Viewing it from a different angle helps to reveal its strong suits and potential drawbacks. Create user group profiles that feature traits, pain points, and training needs. Then reevaluate your LMS from their perspective. Make a list of LMS selling points that might draw these groups to your LMS, in addition to the "cons" you may need to address early on.
6. Brainstorm Company Taglines
If you had to summarize your LMS in one or two sentences, what would you say? Creating brief taglines allows you to capture the true essence of your software and break it down into LMS selling points. For example, your tagline brushes over 3 or 4 primary LMS features or benefits. These items can be elaborated on in your LMS selling point list. You can also use your company message or mission statement to brainstorm some additional LMS selling points.
7. Survey Your Target Market
Conduct surveys to discover what products your consumer base needs and what’s lacking from the current offerings. This will not only help to shore up your LMS selling points but reevaluate your LMS to make it the best it can be. Let’s use the example of an LMS vendor conducting a social media poll about past LMS experiences. Data reveals that a large portion of their followers was unhappy with an LMS’s pricing structure. You can look at your current plans and see if there’s any room for improvement. Maybe create a more basic package that strips away some of the LMS features. Then center one of your LMS selling points around being affordable for start-ups.
8. Know Your Industry Inside And Out
The LMS industry has a variety of sub-sections that you need to consider. Firstly, you must identify your niche so that you know your target audience and what they expect from an LMS. Next, you have to analyze the most common LMS features that pertain to your niche, as well as the primary reasons why clients purchase LMSs to begin with. You also need to know about regulations or trends within your industry. For example, if there are certain compliance protocols that your clients need to follow, such as accessibility for online learners with special needs. Be aware of the "norms" for your niche so that you can cover the basics in your LMS selling points. Then include special features that go above and beyond.
What are the standout selling points of your LMS? Hopefully this article can help you create a comprehensive LMS selling points list that draws in potential clients. It should also give you an effective framework for your LMS sales pitch so that you include ALL the product’s perks. Finally, these unique LMS selling points will serve as a starting point for building your brand identity.
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