How can you make your buyers satisfied? What does it take to create a base of loyal customers who can give you repeat business? Well, you need to focus on a vital aspect – training your people to value sell effectively.
What is value selling?
Tom Reilly, one of the pioneers of value selling, defines value selling as seeking ways to enhance, augment, or enlarge your bundled package solution for the customer. The core premise of value selling is that the customer perceives ‘genuine’ value in your offering. Value sellers believe that the sales process doesn’t end when the deal is struck with the customer, but continues till the customer uses the product. Reilly advocates that firms should discard the ‘sale-at-any-cost’ approach and ensure that the product is really useful to the customer. Customer-centric sales certainly help you win, as they often succeed in the creation of highly satisfied and loyal buyers.
How can you train reps on value selling?
1. Develop the right attitude
I’m sure you’d agree with me that salespeople with the right attitude often emerge successful. Now the big question is, how can you develop a value selling attitude in your sales force? The answer – you need to explain to your reps the benefits of the sales philosophy. Most salespeople will be ready to come out of the ‘push-the-product’ attitude if they know its drawbacks.
You need to tell your sales folk that customer satisfaction is the key, as there is no point in losing as much business as much as you get. It is important to educate them that selling the value of your products helps them sell better, as customers are more likely to buy a product if they understand how it will meet their needs.
2. Train salespeople to offer the right product
One of the key aspects of making customers perceive value is offering the right product which meets their needs effectively. This goes a long way in creating an impression on the buyer that you are trying to help him instead of merely ‘dumping’ your products on him.
It is a good idea to provide salespeople mobile-compatible job-aids to help them ‘match’ the features of products with the customer’s needs. For instance, an insurance company can develop ‘feature-need’ tables for each product which help its reps suggest the right product that gives maximum value to a customer. The reps can use these tables to suggest a portable group term life policy, to firms in the retail sector where attrition rates are high.
3. Help reps explain the ROI of the product
This is another vital component of good training on value selling. Your prospects will be convinced of the value of your products, if your people can explain how it provides the best return on their investment.
Staying on with mobile-compatible job-aids, you can use these performance support tools to help your people calculate the ROI on your product and show how it is superior to the return provided by competitor’s product. One of our clients in the heavy machinery sector uses ‘mobile’ job-aids to calculate the amount the client would save, using their products, and determine the break-even period.
Value selling is a sales philosophy which is based on the premise that customers remain loyal when they perceive value in your products. You need to make the mindset of your sales folk conducive to value selling. It is important to train your people to suggest the right product to the customer and explain how it provides the maximum ROI, to showcase its value. Hope you liked this post. How do you train your people to value sell?