There’s a wide range of sales philosophies and methodologies to follow, but as of late, one name—value-based selling—has been rolling off tongues more than most others. What is value-based selling, and why is it such a hot ticket these days? Read on, as we delve into these (and other) important details.
An Intro To Value-Based Selling
There are about as many takes on this as there are salespeople who follow the practice, but if you want a straightforward definition, it’s that value-based selling a customer-first approach. Instead of going “heavy” on the sales angle, you, (or your salespeople) instead adopt the role of educators—guiding clients through the sales process while showing them what eventual positive outcomes they’ll reap after purchasing the product/service in question.
The value-based approach, if you weren’t already aware, zeroes in on the “missing piece” your prospects need in order to bridge the gap between where they are and where they envision themselves. Focus on how you provide value—that aforementioned missing piece—and what comes of it down the line, be that improved productivity, quality of life, etc.
With the right approaches, this technique will see a boost to your overall bottom line. Next, let’s talk about the key ways in which value-based selling beats out other methodologies.
How Value-Based Selling Beats The Rest
It’s important, firstly, that you remember this isn’t some sort of hack to net you greater sales. To the contrary, value-based selling is a long-term strategy that, when followed appropriately, can lead to a closer relationship with clients and a host of benefits that come from that.
This isn’t to say that a mastered value-selling approach won’t bring you greater profits, though, because that is one of the chief benefits of this methodology. Because value-based selling emphasizes precisely that, you can trade off the perceived benefits of your product/service in order to boost the amounts you’re pulling in per sale. Beyond that, though, the long-term aspect of this approach banks on you getting repeat sales, so you’ll have a chance to maximize that revenue over time when clients are coming to you instead of competitors.
Of course, the reason you’re able to succeed to such a great degree with value-based selling is twofold. First, you’re really listening to clients and prospects, honing in on their fears, needs, and desires. In doing so, you can craft your approach differently than most one-size-fits-all sales methodologies, and really start tailoring your value to fit an audience.
Secondly, you’re able to connect more with the prospects’ needs and better secure their loyalty by way of promoting a complete experience over just a singular product or service. Yes, it’s the product/service that the customer primarily buys, but with that comes a range of interactions—from customer service to beyond—along with the post-purchase experience that will color perceptions. When you’re focused on these elements, as you are in a value-based selling model, you’re more likely to hit the mark with those potential customers.