We’ve written several blog posts on selling value (Selling Value is More Important than Ever and Quantifying your Value Proposition: Making-the-Business Case). This is one of those topics you can never give too much attention, so here are some ideas introduced in the Inc. Magazine article by Tim Donnelly: How to Sell Value Rather Than Price:
- Select target prospects wisely – Determine as early as possible if the prospect is simply one of those customers only concerned about negotiating the cheapest price. Unless you offer the lowest price these prospects are wastes of time. Fortunately, a majority of buyers are interested in solutions that bring superior value and they understand value-based pricing. These prospects will be receptive to hearing why they should pay more for one solution over another.
- Leverage your strengths and experience – Wield the full weight of your strengths and the competitive advantages of your company. Build up your success stories by documenting testimonials from past successes – in doing so, you’re “adding” your customers to your sales force.
- Know that confidence is key – If you do bring superior value, then when it comes to discussing price be confident. Don’t project the image that your price is “a little high.” Avoid phases like: “generally we charge but,” or ‘in your case we would consider,” or “of course we could look at some alternatives that might.” These phases convey you are willing to immediately consider a lower price and make suspect the notion of superior value. Also remember you can be confident without dragging your competition through the dirt – keep the focus on the value your solution provides.
- Emphasize your customer service – Selling value requires getting prospects to picture the full depth and breadth of everything your company has to offer. This isn’t easy to do. Often the differentiator isn’t your product per se but the added-value services you can provide. For example, on the customer service side, there is a great chance that distinctions can be drawn – starting with the sales person and how they interact with the prospect during the sales cycle.
If you found this post helpful, you might want to subscribe to our blog, the Sales Training Connection.
©2011 Sales Horizons™, LLC