Tuesday 25 December 2007

What is Value Based Selling and how can you sell Value Based?

ohhh, this will not be an easy article to write (and/or provide value to you- hehe).......as you can look around the Internet and Google on Value Based Selling and find a lot of hits that have so much to say/write about value. The subject is hot and many sales specialist claim that in today’s competitive economy selling value based is no longer optional . . it’s mandatory. In a way that is true, for Customers/Prospects do not choose to buy from you because you offer great features, functionality, or benefits. They choose the vendor who can provide the most value – to their business as well as on a personal level.

 

But first you need to get their attention and make them interested in you and what you have on offer. You need to speak their language – and they expect you to know as much as possible about their business and their industry as possible before you show up. That in itself is a value because they don’t have to speak about a lot of stuff that is trivial to them.

 

Well I guess that is nothing difficult in itself, the difficult part is to identify what is of value for the prospect/customer. Especially, since there are so many different things that could be of value. The term value in itself is in general referred to the degree of importance someone gives to something, values however can also be referred to:

• The value of a variable in mathematics.

• Value as in law

• Value as in computer science

• Value as in semioticsValue (personal and cultural) -- the principles, standards, or quality which

guides human actions

• Value (economics) -- the market worth or estimated worth of commodities, services, assets, or work.

• Value theory -- in ethics, aesthetics and other evaluative matters

• Value as in marketing -- provide service for consumer satisfaction

• Value as in colorimetry -- a measure of white or black in color

In terms of sales it is the personal value that will trigger an reaction! Why? Because from a personal perspective value is a concept that describes the beliefs of an individual. The values of a person are the principles, standards, or quality which will guide the human action. A set of values may be placed into the notion of a value system.

 

The difficult part is that values are considered subjective and vary across people. Which makes it so difficult to sell really value based. The most sales people that argue that they sell value based, just because they present their products based on values, have not understood the concept of value based selling (which are the most). The most salespeople I encounter do that what I call the problem/pain – value method. In its basic concept it works like this. If you really have a problem or pain and I have a product/solution that fixes this problem/pain, than I have delivered value. In a way that is true. But that is not Value Based Selling. Here is a Value Based concept that in its theory is easy but in the real practice quit hard:

Prospects don’t always buy what they need – for that does not necessarily provide them value. They always, however, buy what they want, for that is of value to them. Here’s the difference:

Needs are…

• product specific

• rational (based on situational problem)

• above the surface

• based on facts and often measurable

 

Wants, on the other hand, are…

• product neutral

• emotional

• below the surface

• based on perception and often not measurable

 

As a consequence, here’s the principle:

Salespeople who can present their products or service (a need) in the way that their prospect wants to perceive it will be more likely to make the sale. That is Value Based Selling, let’s put it another way:

Prospects are more likely to buy what they need from prospects who understand what they really want, for then they fell you can provide them with value.

 

The thing to remember is that when needs-oriented planning leaves your client occupied, try focusing on your client's wants (which are his or her's values) instead. Needs simply don't have the emotional punch to influence human behavior. Remember, the least effective approach is to try to satisfy client needs (based on problems and pains). A better approach is to help clients get what they want and desire - which is their value expectation. The most effective sales professionals help clients fulfill their values in life. Differentiate yourself! Don’t be a traditional salesperson, become a Trusted Sales Professional - sell with values (with true values).

 

I truly look forward to read the discussions and hear your approaches of how to sell with values.

 

 

Regards – Mark von Rosing

PS:I hope this has provided some value (little smile)