Article: Show me the value !

8th November 2018 | By Frances Pratt

Value Based Selling

The truth is that people will buy from you when you can show them the value that they will get from using your product, service and experience.

So me question to you is .... how deeply do you understand and how well can you demonstrate to your prospective customers the value you deliver? 

What is value anyway?

People often confuse price and value.  One of my favourite quotes which is often attributed to Warren Buffet is “Price is what you pay, value is what you get!”  This is so true.  When you and your client keenly understand and experience the value you deliver, the price becomes less important.  So in the sales process the critical thing is to focus on value so that the price becomes less and less important.

People receive value in many formats.  Feelings, solutions of problems, money, smiles, congratulations, feedback of other kinds.  The answer to the value equation includes all of these things for all players.  So if we are really going to understand your value proposition then let’s look at the players list and who gets the value.

Who gets the value?

 

YOU

The first person who has to feel the love is you. So many people think that the value is for the customer.  Yes and no.  In the first instance, you have to get something out of the relationship or transaction. There has to be value for you, otherwise you can't keep serving your clients.

We have all seen times when this has happened.  We ‘give’ something away and then we don’t do our best work because the ‘value equation’ isn’t balanced.  So in fact looking after your experience of value is in the best interest of all other players. 

ACTIVITY: So tell me ... what value do you get from your business.  Think about the emotional, logical and monetary gains you get from what you do.

YOUR TEAM

Everyone involved needs to feel the love.  If you work on your own, then you can think of this as your family and people who live with you.  If you have a team, then everyone is involved in the getting and keeping of a client and the delivery of value. 

I have happily sacked a client because they haven’t valued some of the players in my team.  If we accept bad behaviour from people, we are creating an environment that devalues ourselves and others in our team.  Want to learn how to do that?  Read this: Why and How to Sack a Toxic Client.

ACTIVITY:  Talk to your team and family and learn from them what value they derive from your business.

THE CLIENT

People buy things so they can solve a problem or fulfil a need.  So when you are selling people want to know that you can solve that or give them what they want, but they are also interested in understand how you have create that for them.  There is value in the solution and also value in the process of how you deliver this.  It is important that you continually get this feedback on value so that you know you have delivered.  I often help people to build in mechanisms and feedback loops so they clearly understand what people value about you and what you do.

ACTIVITY:  Go and talk to your clients and really get to understand in their words and emotions what value you give.

YOUR COMMUNITY

When you deliver what you do with ease and grace and people get the value ... then everyone is happier and this effects a whole range of people beyond the immediate participants.   Less waste, more happy people, more efficient public transport, greater freedom … think about the experience and delivery of what you do and how you can create value for your suppliers, partners and members of the public that come in contact with you, your business and your clients.

ACTIVITY:  Think about how does what you do add value to the community. 

Show me the value!

When you can deeply understand and demonstrate the value that you deliver then you pave the way for you to more easily and gracely move to the question of price.  So my friends, go and dig into and show me the value!

I would love to hear your experiences.  Share away!

For the love of sales,
Frances!

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