When meeting with C-level executives or a VP of Sales or Operations, I am often asked how and when to introduce selling value to their sales team. They all believe in the importance of creating a value-based sales strategy, but they struggle with its implementation.
I recently read a couple of articles about marketing during a downturn. Both urged businesses to resist the natural temptation to cut marketing during this, or any, crisis. They got me thinking about what marketing should be doing to prepare the business for the eventuality that things recover.
Few people like to talk about money during the sales process. Eventually, though, buyers will ask, “How much does it cost?” If the price is more than nominal, they probably need budget approval. How well can your sales team shift the conversation from finding and solving customer problems to money?
When selling to well-informed buyers, your sales team needs to skip the “features and functions” pitch and get straight to the point: the value your solution delivers relative to the problems it solves. Do they have the right tools and training? Do they understand what’s most important to buyers?
I am always happy to provide value-selling training, but I hesitate when the organization hasn’t already invested in value selling tools or integrated value selling into its overall sales process. Why? Because in my experience, three critical components must be present to ensure a successful value-selling initiative: people, process, and technology.
If you are like the vast majority of businesses, you strive to shorten your sales-cycle and accelerate closing the deal. On the other hand, some businesses are blessed with such a smooth sales process that they need to slow things down.
Marketers and sellers need to know how much their offering is worth to customers. This knowledge helps acquire qualified leads and close more deals. Unsurprisingly, buyers want the same information and need to know how much your offering can lower costs and grow revenue.
Imagine being a tennis coach and one day, you tell your team you want them to start playing golf. You hand out brand new, top-of-the-line golf clubs, and send them back out to the tennis court to play golf. What do you think will happen?
My guest appearance on The Sales Conversation Podcast explored How to Lead in the Buyer Journey with Next Steps. I was joined by my business partner, Darrin Fleming, and the host, Bruce Scheer, founder of Sales Conversation. Together, we discussed how sellers can lead and support buyers through the buying process by having defined “next steps.”
The most important path to effective product management and marketing is a deep understanding of your customers’ needs and alternatives. A successful growth strategy differentiates your product from the competition's and delivers a persuasive value proposition.
