Five Ways to Sell Value – Not Price!
|If you want to get paid what you are worth, here are five ways to sell value – not price:1. Be unique. If there is nothing that differentiates you from your competition you become common. Take inventory of your skills, experience, and knowledge. Are you a specialist in some area? Are you an expert in certain facets of your business? These and other differentiators can make you unique and valuable to a select group of clients.
2. Choose your clients carefully. To begin controlling your business, write down the attributes of the people you want as clients and then go out and get them with targeted marketing.
3. Compete on value, not price. No disrespect intended to other business models, but it doesn’t take any special skill, experience, or knowledge to compete on price. All you have to do is be the cheapest, but this is a losing game. The way to get paid what you are worth is to visibly demonstrate your value to your clients. Competing on price does not create value.
4. Provide value that no one else offers. When prospects do business with me, they get a complete outline that explains my process from start to finish. It also includes samples, a list of service providers that could be involved in the process and much more. No other competing business offers any of these benefits, so if a client wants to work with me they must pay what I ask.
5. Reject price shoppers. Studies show that only 15-18% of people make their decision to purchase a product or service primarily based on price. This means that the majority of clients appreciate value and are willing to pay for it – if they see it.
Don’t forget that real professionals earn their money by helping clients maximize value, minimize costs, save time, and much more. If potential clients don’t appreciate this then feel free to refer them to your competition.
You don’t need every prospect and you certainly don’t need every buyer to be successful. If all potential clients want is a cheap transaction, send them to a vendor who competes on price and wish them both luck!
Creating Customer Value In Your Proposals
|If you read any book on sales or proposal writing or take a sales training course, some of the first topics that will be covered are features, advantages, and benefits. Ultimately, any proposal, whether verbal or written, must persuade someone to take action. This is done by demonstrating the benefits of taking that course of action.In a smaller sale, particularly with products, it is often easy to list benefits, but with larger proposals you will have to search harder to understand the client’s business problem and explain the benefits of your solution … that is, how effectively and efficiently your solution solves their business problem.Your solution should demonstrate not only value in price, but in the services that you offer. Value is the balance of cost versus benefit; therefore you need to be explicit in highlighting the benefits to the client.
Often when a contract has been lost, the client will tell you that you were too expensive – but no one ever gets told that they won because they were the cheapest. It is the best solution that usually wins, the one that offers the best benefits. This may be the most expensive solution, but it still may offer the best value.
So, how do you create customer value? First, you need to take time to understand the customer’s needs. When potential clients request a proposal, get back to them immediately with questions. Call them and ask for a meeting. You must be able to demonstrate an understanding of their business need in order to demonstrate that your solution will deliver the required benefits.
When writing your proposal, use content tailored towards the client and their business problem. We all copy re-usable text, or boilerplate in proposals, but customize it to the client. Include their name, especially in the executive summary. Let them know that the proposal is about them, not about you.
Directly address your customer’s issues and offer persuasive ideas with distinct solution benefits and support your arguments with evidence. When have you delivered a similar service or solution in the past? How did that client benefit? Demonstrate your ability to deliver on your promise.
Make sure a value proposition is clearly laid out and easy to understand. Can you include a return on investment model for the client? When you do so, you are showing the client you understand how to save their business money.