Selling U Newsletter: Issue #34 - 3 Tips for Value-Based Selling

3 Tips for Value-Based Selling
Sell Value Rather Than Price

     This week we are going to pull together a few articles from previous weeks to provide some tips on increasing your sales without compromising your profits by selling your value rather than your price - especially your discounted price. (To review the articles that are referenced below, visit our Archive Page.)

     When it comes to sales, one of the biggest challenges business owners and sales reps deal with is selling to price-oriented customers. These customers look at purchasing products and services through green colored glasses and are always looking for the discount. If handled correctly, this isn’t necessarily a bad thing!

     As price conscious as these customers are, they typically also have a greater sense of value for the dollar they spend, or the dime that they actually want to spend. This gives you a great opportunity to earn their business - their long-term, loyal business - with a profit, rather than turn a quick sale with a slim margin and move on to the next one. Let’s take a look at a few tips that will get you there:

Tip #1 - Ditch the Pitch: In article #12, we talked about conversational selling. In a nutshell, it talks about the importance and value in having conversation with your customers and prospects to uncover what their real needs are. It is very rare that you will begin any meeting with a pitch about the features and benefits of your product or service.

     There are many times that you may not even present the benefits of your product or service during that initial meeting. The prospect may not really need what you have to offer. This is the time to find out what their problem is and if you have a solution for them. If you can provide a solution, it’s now time for tip #2.

Tip #2 - Turn the Tables: Once you’ve had your good rapport building conversation and earned the opportunity to continue with the solution you can provide, telling them the benefits of your product or service can still be met with skepticism and a pair of arms folded across their chest. The key here is to ask strategic questions that, with the answers they give, will sell the value that you know you can provide. With their answers, you can now speak freely about your product or service’s benefits without any resistance from them.

     If you’ve had a good conversation and uncovered their dilemmas, these questions should easily be pulled out of your quiver. (See article #25) The difference here is these questions will now be designed to elicit an answer that describes the specific benefit and value you provide while reinforcing the need they have for it that you discovered earlier in your conversation.

Tip #3 - Super Size It: Once they have “sold” you on their need for your product or service, sprinkle in a few more benefits that they may not have thought about. It’s best if you keep them relevant to their basic concerns, unless they have not mentioned anything about a major point of value you can provide. (See Killer #4 in article         #26) Doing this solidifies your value stance and elevates you to the trusted advisor they are looking for that will solve their problem and continue to look out for their needs.

BONUS Tip #4 - Higher Education: This is where and when you see their light bulb go on. Often, your prospect has researched other product or service providers and is still searching for the right or best solution. They’ve talked to other companies and sales reps, but had nothing close to the experience they’ve had with you. They talked and you listened. You took their comments and answers and enhanced them with your input and insight. They feel important (as they should and are!) and you can see the excitement in their eyes and hear it in their voice. If you need to meet again, they will look forward to your return. Not only that, they understand the value you bring to their table and will be willing and pay you for it.

Now Go Get ‘Em!!

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