Written by Sean McPheat |
12 March, 2018
Increase the value, or the perceived value of what you sell, and you will make more sales!
You have to have ways to raise the value of your product or service.
By that, I mean, when the buyer feels that the return, is greater than the investment, you will close more sales.
The sale often takes place when the prospect feels that the value of the product is significantly greater than the value of the money.
Once the benefits outweigh the costs, you are in position to do business.
Of course, the process of building perceived value differs depending on what you sell, in particularly, if you sell a tangible product or an intangible service.
Below, find three powerful tips for both sides of the sales spectrum.
How to Raise the Value of a Tangible Product
1. Handle the item as if it is made of glass
The way you handle the product you sell can greatly increase or decrease its value.
Handle the item as if it were made of glass and worth £1,000,000.
Even if you are selling strong, durable machinery or tools, handle them as if they were Faberge Eggs, and watch the perceived value soar.
2. Do not touch it—caress it
Automobiles, furniture, appliances, clothing or even machinery, when in contact with your product, be gentle and soothing.
Contrary to popular belief, do not ever kick the tires!
Gently caress the item, sooth it.
3. Savour with your eyes
When you first saw this great product you sell, your eyes lit up like a fire.
However, after selling it for months or years, you don’t see it the same way today.
The prospect sees and feels how you react when you gaze upon your product, and they react likewise.
Selling essentially is a transference of FEELING, and if you do not feel genuinely excited when you see your product, neither will the prospective buyer.
Savour the item with your eyes and the prospect will do the same.
How to Raise the Value of an Intangible Service
1. Promote the value of YOU
The more of an important person you are, the more valuable your service is.
Promote yourself; articles you wrote, awards for service, etc.
Also, dress to impress. Look like you have millions in the bank and you do not have to work.
2. Explain the value of people behind the scenes
Let the prospect know that your firm invests in only the best.
For instance, assume there are two software companies whom both sell a comparable accounting application.
One company employs entry-level, unproven, programmers still in college, while the other hires only high-level, seasoned and certified professionals.
The higher worth and investment for the professional programmers, will increase the intrinsic value of the software.
3. Uncover the behind the scenes processes
Explain how your company has enhanced processes and procedures.
Does your company spend more money on research and development, legal areas or security?
Perhaps the filtering process and assessment tests you use to hire accountants are more sophisticated than the industry norm.
Such information will increase the value of your service.
Raise the value and raise your closing averages!