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The Value Question
by Ann Barr
Have you noticed how
often people are talking about value ?
So . . . what exactly
is value?
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?
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Personal service,
which includes friendly, helpful and knowledgeable employees who
know customers by name.
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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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