30 Ways to use Value Selling

Sales Strategy, Sales Tactics and Sales Leadership – Blog of #KlozeMoreSales

Klozers Sales Consulting 30 Ways to use Value Selling

30 Ways to use Value Selling

Sometimes it can be difficult to demonstrate value selling in your product or service, and this problem can result in sales people continually being beaten up on price.  If your product or service is becoming commoditised there will always be someone who decides to sell on price alone.  Needless to say this is never a wise move, so we have compiled a list of ways that everyone can use to demonstrate value selling to your prospects and your customers.  The ideas are in no particular order, and we’re not claiming the list is definitive, so please feel free to add your own suggestions in the comments section at the end.

 

Value Selling

  1. Cost/Benefit analysis – this is a really simple but effective tool that will help you demonstrate value to prospects in the form of your expertise, credibility and experience.
  2. ROI calculator – for those that don’t know ROI stands for Return on Investment.  For every pound we put into this solution how many pounds will we get back.
  3. Business Case – is a professional document that demonstrates the value of a particular project, and would typically cover topics such as project team, current challenges, organisational impact, goals & objectives, assumptions, constraints, alternatives and milestones.
  4. Testimonials – can either be written or a video that states the value they received by working with you.  These provide great content for your website, literature, presentations, LinkedIn pages, etc, etc.
  5. Case Studies – a description with regard to a specific client of the problems they were experiencing, the solution you provided and then the benefits in value they received thereafter.
  6. Introductions – introduce your clients and prospects to people they can do business with, and they will see a very tangible value in working with you.
  7. POC – deliver a small Proof of Concept to demonstrate the value before asking for commitment to a larger opportunity.
  8. Added value – deliver above and beyond your customers’ expectations.
  9. Differentiation – if your prospects cannot separate you from your competition then why would they pay more.  Differentiation must be built into your value proposition.
  10. Comparison to competition – some companies have been very successful comparing their product/service to their competitors, but be careful not to criticise the competition though.
  11. Proactive support – don’t wait on customers coming to you, go to them, especially if you have product recalls, updates or service issues.  Every interaction is an opportunity to demonstrate value.
  12. Knowledge Base – educate your customers so they can find their own valuable answers.
  13. Tutorials – can be used for both prospects and customers to sell value.
  14. Online guides – provide detailed user guides for any product or service so your prospects immediately can see the value you are selling.
  15. Webinars – you can use webinars to attract new prospects and for value selling to existing clients.
  16. FAQs – allow your prospects and customers to serve themselves whilst demonstrating your knowledge and expertise through your FAQ page or guide.
  17. Content – web content is one of the best ways to attract new business and demonstrate value at the same time.
  18. Demonstrations – whether on a personal or group basis, a well thought through “show and tell” is a well proven tool for value selling.
  19. Videos – with YouTube now one of the worlds biggest search engines, video is now a great way of selling value on the web, on your site and in your presentations.
  20. Nurturing – targeted and well crafted sales messaging via a drip email nurturing programme is a great way to demonstrate the value in your offering with prospects and clients.
  21. Availability – try booking a hotel or flight online and you will find scarcity of product is commonly used to convert prospects on low end and expensive services.
  22. Branding – people do judge a book by its cover so make sure every prospect/client touchpoint demonstrates the value you provide.
  23. Website design – for most companies their website is their prospects first point of contact and a reference point throughout the buyers selection process.  It is therefore of utmost importance that your website sells the value you provide.
  24. Market position – position your product or service as premium, luxury, prestige, expert, thought leader or specialist and buyers will then expect to pay more.
  25. Presentation – selling value is essential in any presentation or proposal, after all this is when your buyer is making their decision.
  26. Price promise – for many years the John Lewis Partnership have successfully used a price promise in their tag line “never knowingly undersold”, yet everyone knows the success of John Lewis is based on service and unique offerings not price.
  27. Exclusivity – creating a limited offer and scarcity are well documented emotional buying triggers that is not based on the lowest price.
  28. Financial Statements – summarise everything you have delivered and the benefits there of in financial statements to your clients.  These are often handled by Finance departments who may have no idea of the value in the service you are providing.
  29. Invoices – like your financial statements your invoices are often paid by people who might not be involved with you, so reinforcing the value you deliver is a good thing to do.
  30. Key account management documents – value selling is a vital part of key account management and needs to be embedded in every account plan.

 

Unfortunately the weak link in Value selling might be your sales people, as you can do everything possible to sell value, but when your prospect or customer asks your sales people for some form of concession on price, they need to have the courage to say No.  Now we don’t mean No literally, we would always advise you to cushion that statement, for example you could say something like “When we spoke earlier we had agreed I was going to give you the absolute best price possible, and I did that.  I’m sorry but there is nothing more I can do on the price.”  If you have an open mind, some courage and confidence you’ll be surprised at what you can achieve.