Important to answer that as the price difference a solution commands is 10 to 30 times greater. But you must answer honestly- too many people talk about a solution when really they mean TOOL.
Put yourselves in the mind of the insurer and answer these questions: -
- Will this totally transform our business model as well as our technology?
- Will this cover all my product lines and geographic coverage or it just one of each?
- Will this deliver an Amazon quality user experience and journey or just a mobile app?
- Will this enable us to make Allianz, Chubb, Zurich and State Farm quake in their digital shoes or just say "So what?
If it's a constant yes you are more likely to be a solution provider. If not....... hope you've not raised too much funding.
Read the full article- it will be worth it.
Having been a VP at a Fortune 500 company, I can tell you that getting me as a corporate VP to pay $100k for a web tool was basically impossible. It gets sent to procurement, and by the time you are done, it’s hard to get anyone to pay more than $20k for a tool. And there’s never any extra budget for a six figure tool to make the troops happier (sadly). But. A solution? Solve my problem around billing? Around customer success? Around CPQ? Well … you can get $20,000,000 if you truly solve a core enterprise business problem. $20 million is what Salesforce gets at many large customers.