“Price is what you pay. Value is what you get”.
Warren Buffett, American Entrepreneur
Value — perceived or real,personalor business — is theonly thingthatseparates one productor alternativefromanother. “Value” is your client’s perception ofthe impact a solution willhave ontheirbusinessissue. As a “trusted advisor” you carry that message and all the value benefits that come with that responsibility. It’salwaysa combination of tangibleand intangiblecomponents.It’salways subjective and unique toour client. Aboveanyproductfeature orbenefit,valuesellstotheheartofcriticalbusiness problems.
Themorewecanhelpourclientsconnectthevalueofourtechnologyorsolution totheirbusiness and personalobjectives,thestrongerthe buy-in andmotivationto takeactionand buy more, with larger more strategic deals. They want to do business with you as an advisor and NOT as a perceivedvendor.
Whatdoes “value”mean toyourclients?
Sellingvalueis comprised ofaprocess thatstartsand ends withthecustomer’s view,andallthese manyviews,irrespectiveof industry, starts whereVALUE= BENEFITS–COST.With changestomanysectors,andthe newcommoditizing of so many technologyproducts and services, thetrue differentiating (free “gifts of Knowledge”) comes whenthe soundnessofthe businessvaluemakes“cents”enoughto motivatechange.If thisprocessis takenmethodicallyand withdue diligence,itwilllead you into that hallowed groundofbeing a “trustedadvisor”.
- 1. Research yourclient’scriticalbusinessobjectivesand potentialunresolved business pains(i.e.to increaserevenues,thentheinabilitytosellmoreduetoalack of detailed,salesforecastdata).
- 2. Determinetheconditionsorproblemsthat maymakethebusinesspain(s)difficulttoresolvechallengesinthefinancedepartment,divisionITsystems…).
- 3. Differentiateyoursolution so itcanbe appliedtoovercomethepains,and, therefore,resolvetheclient’s business issue(s).
- 4. Understandthebusinessobjectives,pains,and problemsinterms ofquantifiablemetric
- 5. InsteadofROI,whichisknowntobevendor-biased,insteadusetruerTCO (totalcostofownership)orNPV(netpresentvalue)financialmodels.
- 6. Build theimpactstatement so this becomesa personalimpact statement lendingitselftoaddressingthe executive(s)wherethey feel it themost.
Thisstepshelps Sales Reps move beyond a consultative methodology and to the next plane, acting like and delivering like a Trusted Advisor.
What do you do next? Send us an email and we’ll arrange for you to speak with Ed to chat about how these learnings can help build more sales just for your business.