Most people tell you to focus on selling value rather than price but they don’t tell you how or why. Well, I’m here to clear that up so let’s dive in.
Before we go so much into the technicalities, why do you need to send value? Well, there are many reasons why selling value is more important than selling a price. Value is equivalent to worth. Both the buyer and the seller focus on the worth of the transaction. The buyers or rather a client wants to see the value of their money after every transaction. the seller wants to make the most out of every transaction. Basing transactions on their value is the most effective way of ensuring a win-win situation. Both the client and the business or individual delivering goods/services walk away happy.
When you focus on selling value to all your customers, you will always have them coming back for more. The greatest challenge, which is most overlooked, is retaining customers. Returning customers are among the most valuable aspects of entrepreneurship. Customers return because their needs were satisfied by the service provider. It does not matter what you do, all you need to do is to understand the value of your client’s needs. After you have known that, you are one step closer to winning the clients over. Now let’s understand how you sell value.
To sell value depends on the strategy you, as the service provider, have put in place. I will outline a few things you need to know before you start selling value.
Know the client’s requirements.
This is the first step and the most important. It is challenging and at times to recover when you misdiagnose the needs of your client. more often than not, service provider perceives customer needs inaccurately. research shows that this is the reason for most conflicts between the service providers and their clients. Once you understand the requirements of your customers, the rest is quite easy actually. But that’s not all. The most important thing is to understand the value of the service or product you intend to deliver. This will allow you to gauge how you move forward.
If your product or service is a sufficient solution to your client’s problem, they will be inclined to work with you. Most individuals and some businesses fail because of focusing on the one-time price.
Value to client
Sometimes I ponder over the value of the product or service to the client. I will share a very simple example that we can all relate to, the price of bus fare during rush hour. This is very similar to selling a product to a client. During rush hour, we are inclined to pay so much, sometimes double or triple the normal price. The same for clients, if your clients have value for their requirements, then they will pay more. It is your responsibility as the producer, manufacturer, or service provider to determine the value of what you are entitled to deliver.
Value and Price
Once you have the prerequisites lined out, the rest is quite easy actually. Add your value to the value of your products or services to the client. Once the client has explained their needs, they most likely expect to hear your strategy. Make sure you have a clear and concise way of addressing their problems. It’s a problem because they need your solutions.
Now that you have all the requirements of your clients in mind and you have defined their value, give a price. The price should be reasonable so you don’t push away the client. You need to close the deal so breakdown the price in a manner that the client can understand. Clients want to see the value of their money so make this the case.
This way, you will be closing more leads because your focus is on selling value and not price. Both you and the client should benefit from your business relationship. I hope you have learned something from this post please check out our other article on how to rejuvenate your dying business. And don’t forget to follow us on social media. Till next time, adios.