Today’s dynamic and ever-changing business environment requires your organization to stay ahead of the curve. Our new blog series, Value Based Selling Framework, highlights 10 ways to sell value to your customers and prospects.
To sell value, you have to understand value. But how do you know what to sell? Value is what you’re offering that an individual, organization, or brand is willing to pay for. So, how do you find out what people are willing to pay for? The best way is to survey your customers and prospects to find out what you can offer that they value.
Value based selling builds on the ability to measure how customers value a products worth, and it’s a way for companies to sell what their customers need, versus what they want. It’s a concept that most companies and organizations are not accustomed to, at least not in a formal manner. There’s a reason for that; most of the time it involves the expense and effort involved in doing so. As a result, most companies are reluctant to embrace it.. Read more about value selling formula and let us know what you think.
This article explores ten instances of value-based selling, demonstrating how to provide real value in B2B sales prospecting. I explain these 10 value-based selling examples in the video below, but if you’d rather go ahead, scroll below!
Value-based selling, often known as consultative selling, is a method of selling that prioritizes the customer. Value selling conveys not just what you have to offer, but also the value of your goods.
Benefits are guaranteed for sales representatives that utilize value-based sales techniques, including:
Conversion rates are rising.
Value selling brings you closer to your customers, enabling you to spend more time listening to their requirements and figuring out how to fulfill them. The procedure aids you in converting as many leads as possible.
Can sell for more money
When a customer recognizes and appreciates the value of your product and how it affects their requirements, you have an edge and may charge more for it. More profit equals more value.
Let’s look at what value-based selling is and what the Value Selling Framework includes now that we’ve established all of this.
The act of recognizing and reinforcing why your product is beneficial to a prospect or lead is known as value-based selling. Many people believe that the procedure consists only of chatting. It is, in fact, the polar opposite: listening. The greatest salesman is one who can listen to a prospect and figure out precisely what he or she needs.
Value-based selling is an approach to selling that focuses on the customer’s benefit throughout the sales process. The main aim of value-based selling is to prioritize the customer’s requirements. This is accomplished by helping the prospect through the sales process in order to guarantee that they make the best choice for them, which ultimately leads to the purchase of the product.
Let’s move on to the fundamentals of value-based selling now that we’ve established the definition of value selling.
10 Actions to Create Thoughtful Interactions in Value Selling Fundamentals
1) Have a strong belief in your USP and be able to back it up. 2) Set aside some time to be reflective. 3) Keep an eye on and learn from the biggest influencers in your industry. 4) Become a video content producer if you aren’t already a writer. 5) Take a breather before each and every contact or follow-up. 6) Be considerate of your prospect’s time! 7) Demonstrate genuine and sincere enthusiasm for their work. 8) Do your homework 9) Rather of selling, concentrate on teaching. 10) Use a friendly demeanor.
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1) Have faith in your USP and be able to back it up.
“If you don’t stand for anything, you’ll fall for anything.” Malcolm X (Malcolm X)
Joe Palladino, Phil Romano’s business partner, gave me some of the best advise I’ve ever heard. He was straightforward in his message to me. He simply said, “Be who you are.” NOT the person you believe a potential client wants you to be. Recognize your own worth and BE who you are.
It may be time to read Gary Keller’s book, The One Item, if you approach your prospects as a know-it-all chameleon or if your USP isn’t centered on ONE excellent thing.
First and foremost, be yourself and communicate your unique worth to the rest of the world.
2) Set aside some time to reflect.
What is today’s homework? Time-blocking is an excellent habit to get into.
Every day, set up 10-15 minutes for yourself. Turn off your phone and go somewhere quiet. Next, make a list of 10 specific things you can do or send to your prospects to promote deliberate change.
Share ideas that will either educate or entertain people, as well as brighten their day. Give them suggestions to help them win the competition, to make them wiser, to make them smile, or to give them career advice. The options are limitless!
Take this opportunity to concentrate on your prospect’s SUCCESS. You’ll be one of the 1% of salesmen they really believe. As a result, make each minute count.
Sales tip #2: Make a list of 10 useful ideas that you may give to your prospects to promote deliberate change.
3) Keep an eye on and learn from the biggest influencers in your industry.
I like to look at the top players in my area at least once a week and ask myself, “Why?”
What are they doing to be the sales “top dog”? Why are they acting in this manner?
Sure, I value individuality and being myself, but it’s also enjoyable to observe others and learn how to be a very effective salesperson. Once a week, I take notes on 35 notecards and write down any ideas, campaigns, blogs, and inspiration for future brainstorming.
This simple workout will wow you with its effectiveness. Remember that if you do it on a regular basis and apply what you’ve learned, the outcomes will speak for themselves.
Sales tip #3: Continue to expand your knowledge bank by studying weekly insights from the industry’s best players.
4) Become a video content producer if you aren’t already a writer.
Start producing unique material, in my opinion. This is a fantastic method to learn about your market and do research.
Begin by developing your own personal brand, and get in the habit of prioritizing your prospects in your heart and head. If 7 out of 10 B2B customers like viewing videos, I’d love to be a part of the video production process!
It’s quite OK to begin small. Begin by deciding on a subject and releasing one meaningful video each week.
Sales tip #4: Including content development in your sales prospecting is a good idea. It’s up to you to become excellent at it!
5) Take a breather before each and every contact or follow-up.
Take a minute to consider how meaningful your interaction is before hitting “Send” or “Call.”
Are you simply checking in to see how things are going? Start noticing when you’re doing it. It’s more frequent than you would imagine.
Even after teaching this for almost two years at Predictable University, I still have to stop and scream “STOP ARON!” on occasion. What are you doing right now to establish a mindful interaction?”
Sales Tip #5: Take a test to see how considerate you are in your conversations. Keep in mind to be present and to make your follow-ups count.
6) Be considerate of your prospect’s time!
Make it as easy as possible for your prospect to understand what you do, why you do it, and why they should care.
I coined the hashtag #WTFSTC (warning: curse word alert!). “Why the f**k should they care?” says the narrator.
This serves as a reminder to value your prospect’s time by immediately explaining why they should care. Why should they devote additional ten seconds to your interaction?
Fill in the blanks. “We are hired by our clients because .”
This is a straightforward remark that you may make in person, over the phone, or in an email. The goal isn’t to sell something, but to demonstrate respect and get to the #WTFSTC portion of the conversation.
Sales tip #6: Streamline your own positioning and practice wowing your clients at every opportunity.
(Oh, and if you’d want me to make a video explaining how and why I do this, let me know in the comments and I’ll see what I can do.)
7) Demonstrate genuine and sincere enthusiasm for their work.
Humans have a fundamental desire for belonging and approval.
Do you recall Maslow’s Hierarchy of Needs? Everyone wants to feel like they belong, welcomed, and validated, regardless of their level of accomplishment.
I’m not suggesting you lie or be a kiss-ass, but you should examine what your prospect is doing.
Pay close attention to the good stuff—perhaps they’re blogging, podcasting, or publishing value-backed material on LinkedIn? Tell them why you believe they’re doing a fantastic job!
7th sales tip: Listen first, then interact. Be sure of every point of view you offer to the table.
8) Do your homework
The goal of value-based selling is to prioritize the requirements of the prospect, but in order to do so, you must first understand what those needs are. You’ll have to complete your homework. You may obtain a sense of how you might help the prospect by gathering information such as their industry, current position, previous experience, social media, and any common LinkedIn connections.
The goal of value selling is to comprehend and reinforce the reasons why the prospect will benefit from what you have to offer. You may create an efficient sales presentation by gathering information such as the prospect’s weak points, strongholds, and what precisely they do.
9) Inform, not sell
A skilled salesperson understands how to speak simply and succinctly. A competent sales person, in addition to excellent communication, understands how to package information in a pleasant and engaging manner while still getting their message through.
After you’ve gotten as far as lead generation in the sales process, the key to keeping a prospect’s attention is to educate them about the benefits of your product rather than selling them the actual goods.
You gain their confidence and become their go-to source of knowledge by educating them. You may utilize slide presentations as an instructional resource throughout this procedure. Questionnaires may also be used to help the salesperson figure out precisely what the prospect is having trouble with and how to help them.
10) Use a friendly demeanor.
The tone you employ while speaking with prospects is another important element in the value selling framework.
When value-based selling to prospects, your tone should be conversational and engaging, as if you were speaking to a buddy after a brief chat. This helps to establish trust between you and the customer by demonstrating that you care about them and aren’t simply there to sell your goods and leave.
To start a discussion and get a better knowledge of your prospect and their requirements, ask open-ended questions. Adopting a friendly tone, which makes the prospect feel as though they’re getting counsel from someone they can trust, is a smart approach to accomplish this.
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If you think about it, the way we sell has changed over the last few decades. We have moved from a closed-door sales model, where we took orders, and then proceeded to fulfill them, to the zealous, personal selling approach we now have today where we solicit our customers’ requirements, address their pain points, and help them achieve their goals.. Read more about value selling ppt and let us know what you think.
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