What separates the average salesperson from the spectacular? According to the Sales Benchmark Index, a mere 13% of sales representatives in B2B markets comprise 87% of all revenue. That statistic shows a clear gap between top-tier sellers and the rest. The secret to their success lies in the word value.
Both evidence and research show that value-based selling techniques are the key factor separating the average salesperson from those who generate the most revenue. If you’re looking for top-of-the-line revenue numbers, then check out these best practices in value selling guaranteed to close sales.
Focus on Solving a Problem
Customers are looking for solutions to the problems they or their organizations face, which isn’t a new concept. Those solutions are valuable to them, however, making this classic element of sales one of the most vital in value selling.
In most cases, the goal is to help your prospect become aware of a problem they have and the value your solution offers in fixing it. This can also include drawing the prospect’s attention to high-impact aspects of the issue they are facing, especially those they may not have realized.
Be Specific
Every company has a unique value proposition, but those statements are designed to reach a target audience as a whole. To better sell that value, salespersons need to get specific with each potential customer. Your product or service holds a unique value to each prospect. So, rely on those personal connections.
Use the Right Tools
Value selling also takes place behind the scenes. With the right customer value management tools, you can better equip salespeople to close those essential deals. While each interactions with a prospect is unique, it helps to send your representatives in with all the ammo they need.
Keep it Simple
When selling value, it’s best to avoid long conversations or lengthy pitches. Instead, focus on getting to the meat of the matter as quickly as possible. The value isn’t in the build-up, it’s in the product or service you’re selling as it relates to the prospect’s life.
Focus on the Buyer
It isn’t uncommon for sales reps to hyper focus on their process or routine. There’s nothing wrong with practicing your pitch, but it’s vital that you keep the buyer and their needs in mind to facilitate the process.
In a transaction, the role of the salesperson is only one small part of the process. Ultimately, it’s the prospect’s buying decision journey that plays the largest factor and determines whether your sale is valuable or not. So, build your approach from the buyer’s mindset.
Qualify Out When Necessary
At the end of the day, there are just times when you have to qualify out. Even with best practices and top-quality tools at your disposal, there may come a time when your solution or offer isn’t distinctive or high-value enough for the prospect.
Before quantifying out, always reassess the situation to find places where you can build increased value. Even a simple once-over can show you something the prospect may find valuable that you’ve left out or overlooked. However, don’t spend too long value selling to any one prospect.