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One definition: Value is defined as "quality relative to price." Quality includes all non-price attributes involved - both attributes of the product and associated customer service.

But how do you know what value you are providing?

Your customers might perceive value as something other than what you may think of as value.

A SURPRISING FACT: According to the findings of a 15-year study conducted by an Atlanta based sales training organization: More than 90 percent of all sales people volunteer a price decrease without being asked.

In addition, according to the same study, most salespeople do not believe their product or service has enough value - or is actually worth the price they charge.

Objections are often a value test. It's as if the prospect is saying to you: "Do you believe in what you're selling as much as you say you do? Would you buy it?"

There is an easy way to find out how your own customers perceive the value they are getting by buying from you.

How Do Your Customers Define Value?

Communicating Value is a critical way of differentiating your company from competitors.

The challenge is to convince prospects that they will be getting value that is greater than the price they are paying (if you believe this to be true).

What is the most effective way to find out what your current customers perceive to be the value they are getting when they buy from you?

An Easy Way to Find Out

The next time one of your current customers compliments your products or service or anything else about doing business with you or your company, ask that customer this question:

"How would you describe the value you are getting from [your product or service]?"

The answers may surprise you.

You will learn exactly what you need to know in order to sell new prospects on reasons to buy from you.

Because competition is getting fiercer and more sophisticated, salespeople must develop multiple techniques to add value.

What do most consumers consider to be of value, when dealing with a business?

l Personal service, which includes friendly, helpful and knowledgeable employees who know customers by name.

l Accurate record-keeping. (What did the customer buy last month? And six months ago?)

l Product knowledge. (Tell the prospect/customer you can help solve product or service-related problems and offer suggestions and recommendations for alternative products.) The premium customer will seek out the knowledgeable specialist for help in making buying decisions.

l Fast delivery. (Tell the prospect/customer when s/he can expect delivery.)

l Easy "no hassle" return policy. (Describe the process involved in returning misshipped or defective products.)

l Give Customers Valuable Information

Even if some of your customers know about toner pirates, don’t assume that all of them do. Use direct-mail marketing to alert customers about the tactics used by fraudulent telemarketers. You can copy and paste a toner pirate alert letter at http://www.telephonesales.com/PirateLetter.htm

Include Value in Your Follow-up Call – Three Tips

(1.) Provide the prospect with a lead for their services

(2.) Bring the prospect information relevant to their business or industry

(3.) Provide a solution to a problem not necessarily related to your product

Try to really understand what the customer wants to fix, accomplish or avoid. Once you know this, consider how you could help this person.

Ask yourself, "What value can I bring to their organization?"

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Ann Barr is a consultant and sales trainer and presents Sales seminars in the U.S. and Canada. She has written eight books on sales and marketing. To contact Ann, e-mail to: annbarr3@cox.net Or visit her web site www.sellingsupplies.com

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