Written by Sean McPheat |
Many salespeople tell us that the way they differentiate themselves from their competition is by adding value to their products, in order for the customer to see why they are charging the price they are.
Nothing wrong with this, of course. It adds meaning to why they are positioned where they are. The customer can see exactly what they are getting for their money, and by adding value.
Еhe customer can make the connection between the product and the savings he will make, or the benefits they will get for the extra investment.
This is good, but could it be better? How many times do you ‘hold something back’ so you can surprise the prospect with that little extra to encourage them to buy? We sometimes cause ourselves problems here, because the prospect may be wondering what else might you be holding back, and have they really got everything they could from you?
Something to try might be to add value up front. We do this at MTD by showing what the relationship would be if they dealt with us in the future. In other words, we make the value they will receive very clear from the outset.
What I mean by this is you can do more than just add value after the discussions have been had with the decision-makers. You can show them upfront how much you care, showing the customer what they will gain by working in partnership with you. Your upfront ‘value-add’ ideas may include:
Special terms and conditions: When done with tact, these can assist the prospect in talking to others who are in partnership with making the decision to work with them, and can build value in their eyes without having to resort to discounts. Remember, discounts will never increase value; they will only cheapen the product in the prospect’s eyes.
By offering extra value before they have to commit to a decision, it makes the prospect feel they would be missing out if they didn’t go with you. Then you don’t have justify a higher price than your competition by adding on the extras; they have seen the value of your offering before you even start talking about price.
If there are a number of you we can deliver our How To Build Value Webinar. It lasts for approximately 90 minutes and at the end of it you will have everything you need to build the value of your products and services.
Originally published: 4 June, 2019
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