Value-based selling is a sales strategy that (as the name implies) revolves around selling value. This is opposed to traditional sales strategies that mainly focus on selling products by selling their features. That inevitably leads the sales dialogue towards a discussion about benefits versus price. Using a value-based selling strategy, you can divert the attention from the price towards the lead’s critical business issues to the benefit of both you and the lead. To help you get started with value-based selling, we have gathered three useful tips.
#1 Remember that value comes from solving a problem
To create value for prospects, leads and clients, you must provide a solution that solves a critical problem for them. That requires your sales reps to both do their research prior to meetings with prospects, as well as ask questions and be great listeners in meetings.
It is imperative to be specific when defining the problem that the prospective client is facing. Therefore, your sales reps need to have effective client meetings.
In a value-based selling setting that means asking questions to specify the extent of the problem, the costs that the problem creates and how urgent the need for change is. The more critical the problem is, the more valuable the solution you can provide.
If you can provide a valuable solution to a serious problem that the prospective client is facing, then the price of your product becomes less important.
Of course, your solution must be a true solution to the prospect’s problem and not a farfetched one. Instead of focusing on ensuring a purchase today, focus on the long-term value that you can generate for the prospect by solving his/her critical problem. Then the prospect is less likely to seek other providers and more likely to become one of your loyal clients.
#2 Offer a unique value proposition and quantify it
In value-based selling there is no “one size fits all” policy. Of course, your sales reps will approach new prospects with a somewhat standardized sales pitch, but in the actual meeting (or on a phone call or in an online meeting or whatever conversational situation that comes first) sales reps must pay attention to the prospect’s unique situation and challenges in order to provide a unique value proposition.
The skilled sales reps also know how to quantify the value and show prospects how the solution impacts their bottom line, as Mark Allen Roberts points out. In fact, SPI states that sellers who quantify the value of their solutions are more likely to get access to executive-level contacts.
#3 Be thoughtful and show interest
A general piece of advice for great value-based selling is to be genuine in all interactions with your prospects. Every interaction must be meaningful, as Aron Placencia points out in a Sales Hacker article. If you do not create any value with your scheduled call or follow-up e-mail, then do not do it. Instead, show your prospects that you are thoughtful, that you take an interest in them and are not wasting their time. At the end of the day, it all comes down to focusing on your prospects and putting them and their needs at the center to succeed with value-based selling.
If you are interested in learning about software for value-based selling, our sales experts are happy to give you a personal demo of Napp. Napp is sales enablement software that supports your value-based selling efforts. With Napp you can arm your sales rep with relevant content that they are able to use in any client encounter via an app. Among other things the platform contains segmentation and sharing features that make it easy for your sales reps to have relevant meetings that engage your prospects and clients. In addition, Napp helps you to always have meaningful interactions with clients e.g. with personal follow-up e-mails that can be customized. You can learn more about how Napp works here.