What is Value Selling ?

                    

                      How many of us have the following problems ??

1.       Our sales people cannot connect with the senior level people in companies

2.       They have neither enough leads nor constant business

3.       They are unable to forecast their sale.

4.       The product knowledge or industry knowledge is incomplete

5.       No consistent methodology

6.       Underselling of product

7.       No confidence to win price wars

8.        Too many product in the market and don’t know how to differentiate your from others

                   How do we fix this? Ever heard of value selling?

Value selling is a concept or a technique which promotes a product by exhibiting its inbuilt advantage or additional value it may provide by using a product or a service. It is an aggregate of techniques used for different set of customers and not applicable for any single customer. It’s a stage of selling where a customer transitions from a superficial view of the product to a radical view.

                                      Why should I use Value selling?

In today’s world of cut throat market customers often as us a question “ I have a  vendor or a service provider who gives me great service and his pricing is one of the best in the market. Why should I use your product or service?” With so many competitors out there in the market, we have to identify those elements that earmark our product from others.

Value selling is a chain that links the path from learning how to differentiate your product highlighting your own current benefit using fresh ideas to adding quantified value to the customers’ business without meddling with the price.

How should I use value selling?

1.       Treat selling as a consultation:

Do not sell a product on the lines of how customer will benefit on the basis of price. Selling has to be consultative to the extent where customer gains mileage on other aspects which helps his business grow over all and helps him save his overall cost.

For example: if you are logistics service provider, managing a customer’s warehouse, designing a software for him on warehouse Management system (WMS) will be great idea. Though you might charge the customer on this, it will definitely bring down his manpower cost eventually over a longer period of time.

2.       Know your business:

To be honest to the customer and making him believe what you tell him, one should believe his own product. To have trust in the product comes with complete knowledge about the product which is the back bone of good sales technique. Being completely trained in the product, refreshing it and also allowing your on-job training to sink in is imperative to promote a product positively.

3.       Learning to differentiate:

Knowing your product is a mandate, and just as important, is to know your competitors product. Demarcated selling always gives your customers a clear sense of understanding on why they should use your product as against the customer’s product. But what one really needs to keep in mind is that is that it not necessary to show the negative aspects of your competitors product, its more important to show the positive aspects of your

4.       Be ahead of the game:

What interest’s person mostly in senior level management is mostly what runs in the market and how that is going to have a changing effect on their business? A conversation over the tea on with them on what is changing their industry and yours, will give them a boost of confidence in your abilities to take care of your business when there is a chaos in the market and economy

5.       Give it to them on a platter:

What attracts us to a food plate that contains more than one variety? It’s the goodness of getting best of both worlds or as many as is offered to us. Giving value, price and service is not only well combined package but the one which is covered in colorful packages and wrapped with a ribbon. As the customer unwarps every layer small or big he will have a  sense having achieved value for money. It is not necessary to provide Freebies in every case but just necessary to highlight the very inherent quality of your product which values more than money.

6.       Analyze your customer’s needs:

Sometimes we tend to give customer what they don’t need. The fact that customers do not reject what is offered them is not a proof of necessity for it. a detailed analysis of what the customer requires will help us design our product/service better in such a way that it covers all of the customers requirement. It would be a great idea to request your customer to provide a score card so that it can give you periodical reviews on their levels of satisfaction and needs of customer.

7.       Work on consolidated selling:

No sale can be successful without team effort. To provide value to customer is very important for him to understand that in all circumstances a complete team is backing you up manage his account, like the customer service, operations, accounting, technical or an upper management team. This also leads to accountability being shared and chances for increase in success. This is turn will lead to an organic improvement in current process.

8.       Nail the deal:

The sales pitch for value selling should be to close the deal and not to request for opportunity to consider you. The proposal should be strong enough to make the customer understand that the product is a bundle of value adds and there is no going back as it does not get better this and neither can he get anything better than yours in the market. And for this going back to basics of knowing your customer thoroughly is very important.