3 Steps for Understanding Value Selling
Contrary to popular belief, consumers don’t buy products or services. Consumers buy value. They will listen and learn about a product or service, but they won’t break out their wallets until they understand how the benefits fulfill their needs. That’s why value selling is so important.
Value selling happens when you focus your efforts on explaining how the product or service works for the customer. It allows customers to imagine themselves using or experiencing what you are selling. They naturally start weighing the value of having this in their lives with what life was like without it. Once the customer understands the value he or she will get from your offering, the price becomes much less of an issue.
To learn how to begin selling value instead of price, here are some action items to consider.
Identify Your Customer
Who is most likely to buy your product or service today? Start looking at the demographics of your current customer base. Create a profile that includes age, sex, education, income, family size, etc. If you find you have multiple groups of customers, create separate profiles for each.
Describe Their Problem
What are the major problems facing each customer profile? Consider the challenges facing your customers that you may be able to solve for them. Begin by questioning whether their challenges are focused more on time or money. From there, continue to dive deeper.
List Out Your Benefits
How can your product or service create a solution? List all of the benefits of your offerings because you may find values that you haven’t focused on in the past. Once all the benefits are visible, begin seeing how they fit with the needs of your customer profiles. This is where your value selling begins.
Value selling not only makes the sales process easier for businesses; it also makes it more likely that you will be making a real difference for your customers. Nothing makes a customer more loyal than providing solutions to their very real challenges.
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About the Author
With more than three decades of experience in all facets of sales management, customer service, business growth, and staff coordination, Certified Business Coach Greg Emslie is a focused professional with the tools to help you grow and manage your business effectively.
Driven by his ability to implement proven business concepts and help improve teams, Greg affects all areas of the companies he works with, including sales, leadership, profitability, and decision-making. He focuses on improving efficiency and processes for his clients while helping them grow their revenue base.
Ready to begin finding other ways to make your company more productive? Let’s get the conversation started. Contact Greg Emslie for a business strategy discussion today!