The world of sales representatives is dominated by ABC (always be closing) and the push to make as many sales as possible. While the mindset is always on the figures, there are better ways to go about business than jumping from one pitch to the next.
Today’s modern sales world is quickly adapting to value-based selling. This unique, customer-first approach places the emphasis off of price and onto the value a product or service provides the buyer. It’s an excellent emotion-driven approach, which is proven to boost sales. Here’s what you need to know.
Defining Value-Based Selling
The idea behind value-based sales is to make a product irresistable. It’s a process where the sales representative has a friendly conversation that addresses a prospect’s needs, then meets those needs with the value or service.
In the end, the value behind any given item becomes invaluable to the buyer. Anticipation builds about the benefits they’ll reap after making the purchase. It’s a little trickier than traditional methods, but nothing a quality sales rep can’t master. Here’s how it’s done.
Education is Key
Every sales rep should know the product they’re selling inside and out, but it takes more than that to add value. Reps need to tap into the emotional drive behind a buyer’s purchasing decisions, which starts with education.
The better a rep knows the needs of the prospect, the easier it is to create value with the customer. Maybe the product or service boosts workplace productivity, helps create more time in the day, or addresses an issue the prospect is facing in their daily life.
Write down what makes the product separate from its competitors from the way it was produced to its sourcing and usages. These points add value. It could be something as simple as an easier way to clean cat litter, saving time and hassle. Whatever the value is, find it and learn about the issues it addresses.
Hold onto Your Pitch
There’s no place for quickly opening to the pitch in value-based selling. Instead, you want to build a rapport with each prospect. This is done through small talk, asking questions, and carefully listening to responses.
The more friendly conversation that takes place, the more trust that’s built. This is also an excellent way to address further needs or issues a potential customer faces and plug the product in as the solution once you’ve gathered the information you need.
Educating is Also Key
The best value-based sales pitches never sound like a pitch. Instead, they sound more like the seller leading the buyer through the process with kindness and information. When sales reps act as educators, they’re able to show why a purchase should be made instead of just asking a customer to buy.
During that friendly conversation, reps have the ability to educate the buyer about the product without truly having to make a pitch. In a sense, this allows prospects to come to their own conclusions. If they think that it was their idea to buy the product and not the sales rep’s, you’ve won.