In my 30+ years in sales training and consultancy, I’ve seen countless professionals struggle with the “value challenge.” To meet the Value Challenge you need to “Understand, communicate and deliver outstanding customer value, and get paid for it!” Many sellers know their product inside and out, but when it comes to articulating its worth, they falter. This often leads to price pressure, discounting too much, and ultimately, lost opportunities.
Knowing your product is important, but it isn’t enough. Product knowledge training – helping you know what you’re talking about! – certainly helps to build confidence.
But here’s the hard truth: Customers don’t buy products; they buy solutions that deliver value. If you’re not effectively communicating that value, you’re leaving money on the table.
And if you don’t understand the value that is important to your customer you start making assumptions. When it comes to understanding your customers you need to know, really know. That means doing an outstanding job during Value Discovery.
So, how do you tackle this?
Start by embracing The Value Triad© : Revenue Gain, Cost Reduction, and Emotional Contribution. These three pillars are your secret weapons in understanding and conveying value.
1. Revenue Gain: How does your solution help the customer make more money? Be specific. Share case studies or metrics that demonstrate tangible results.
2. Cost Reduction: What costs can your solution eliminate? Highlight efficiency gains and savings that resonate with your audience.
3. Emotional Contribution: This is often overlooked. How does your solution make your customer feel? Whether it’s peace of mind or a sense of achievement, emotions drive decisions.
By focusing on these areas, you can shift the conversation from price to value. Remember, when you communicate value effectively, you empower your customers to see the true worth of what you offer.
Are you ready to stop discounting and start delivering value?
Share your thoughts in the comments! What’s your biggest challenge in communicating value?
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