Why You Should Only Be Value-Based Selling

Value-based selling is the sales strategy that will likely set industry standards for years to come. Gone are the days of hawking our services or pushing our products on lukewarm customers. While a slam-dunk transactional approach defined the sales industry for decades, customers today are far more sophisticated in how they select the goods they purchase and the companies with whom they align themselves. Buyers want to be educated to make the smart choices that address their unique needs. They often perform a lot of that legwork themselves, thanks to the likes of Google Customer Reviews, Amazon ratings, social media, and well-honed websites. The high-pressure salesmanship of yesteryear has been replaced with value-based selling that focuses on a consultative, benefits-based approach to providing solutions and ultimately closing the deal.

While most business owners understand and appreciate the distinction between traditional, hard-sell tactics and value-based selling, when push comes to shove, they or their reps sometimes revert to more aggressive sales approaches. This is usually due to several common reasons:

·       An intense pressure to hit quotas and meet sales goals.

·       An immediate need or desire for increased cash flow in the business.

·       An inadequately trained sales team.

These all point to an ill-defined company culture that either subtly or overtly values sales over relationships. But defaulting to high-pressure sales tactics even in high-stakes circumstances can cause more long-term harm than good. The risk of losing a valued relationship or your reputation as a trusted partner just to land a single deal is just bad business.

So what are the keys to successful value-based selling?

Understand Your Customers’ Needs

Taking a customer-centric approach to sales starts with a comprehensive appreciation of the prospect’s pain points and unique needs. Ask questions and do your research into your customers’ challenges. Remember, value-based selling is never a one-size-fits-all approach.

Develop a Value Proposition

As a business owner, it is essential to create a strong value proposition for your goods or services that communicates important functions and differentiators. This is where ROI comes in handy. Don’t just imply a specific return or outcome, but rather provide strategies for increasing the long-term value that your deliverable will afford them.

Build Trust & Foster Relationships

Consultative selling is where you and your sales team act less like traditional sales reps and more like trusted advisors. Once again, this approach is founded upon asking the right questions, possessing an active ear, and embracing long-term relationships over short-term sales objectives.

Anticipate Objections

Even the best value-based sellers are sometimes hit with potential deal-breaking concerns. This is usually the point when traditional sales tactics get messy or even aggressive. By taking the time to proactively consider and appropriately address potential customer objections on price, quality, need or other factors, you remove the volatility of a high-pressure sales dynamic while professionally addressing what are likely legitimate concerns.

Train Your Sales Team

Properly training your salespeople starts with smart hiring. Make sure you assess candidates not just for their past sales quotas, but also for their attitudes and approaches related to customer experience. Train your team on value-based sales techniques and make sure they are or become experts in your industry, products, and services. A well-informed, polished sales staff is far less likely to revert to high-pressure sales tactics.

Click here to view our TAB webinar “The Brainset of a Peak Performer” free and on-demand.

As you continue to incorporate value-based selling into your organization, you will likely be amazed at how your ideal customer profile changes and the strength of your relationships evolve into something far greater than traditional, high-pressure sales tactics ever afforded you.