Monthly Archives: October 2022

Selling your value not your price

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Brian Tracy has developed a technique he calls value selling, saying that, ‘If you focus on value, the price becomes less important. If you don’t focus on value, the only thing you can talk about is price’.

When you sell value, you focus on the benefit to your client, aiming to paint a vivid picture of the value they will receive through using your company. If clients grow to value your products and their perception of specific benefits, they will be prepared to pay the price you quote. When you sell on price, you do exactly the opposite and provide a service at reduced value to undercut your competition which can start a race to the bottom affecting your business’s sustainability.

Before we look at how you go about selling value, it’s also important to remember that 70% of sales are unsuccessful due to companies deciding to keep things as they are. Price is a factor, particularly in some industries, but it’s not the key decisive one.

So how do you go about selling value?

There are two stages to this:

  1. Identifying and developing the key value in your business: This is key to the success of this approach as you and your team need to be clear on your offering and where you add value before you can go out selling it. Important elements to consider are:
  2. Get clarity on your business USPs, remember that you can have as many as you like and they don’t have to be unique to your business
  3. Consider your delivery, can it be faster, improved in quality, come with added value?
  4. Improve your customer service and customer care
  5. Make it easy to do business with you
  6. Selling value not price: remember that the success of this approach relies on perceived value, meaning your customer need to understand how your product will bring value to them. This clearly means that you must get clarity on who they are and what they are grappling with before you discuss your solution. Key things to consider here are:

Fact find stage:

  • Get information about the person you are dealing with and not just the company. Identify their behaviours, style and preference
  • Make an effort to get to know you customer and understand what matters to them as people
  • Identify their key pain points, scratch the surface, and get to the bottom of it.
  • Understand their buying process, what works and what does not

Presentation stage

  • Only put forward relevant products and services based on their need. Putting forward the right product will make much more impact than rolling through your entire list
  • Explain the features but sell the benefits
  • Keep it interactive throughout, ask them for their opinion to try and get a true assessment
  • Always ask what you might have missed when you are done. Another good question is what they still found open or worrying. Give them an opportunity to guide you before you finish the meeting

It is important to remember that developing value in your business is a key stage to undertake before you go about selling value. While you and your team may know a lot of it already, making it a part of your sales process is very powerful. Not sure where to start? Our tailored sales enablement service starts with a gap analysis and the development of your blueprint sale process. Click here for more information: https://www.yourbizdevteam.co.uk/sales-consultancy.php

Giving your team the support to succeed

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One of the big changes in the sales landscape over the last ten years has been the move towards closer integration between sales and marketing teams. Sales integration allows marketing and sales teams to work together generating awareness of your products and services to a target audience, and then converting those leads into orders. In the past marketing was carried out to generate leads, with a sales team then picking up the leads to progress them to close. In the more integrated world of today both sales and marketing may be involved at all stages to ensure that no opportunity is missed.

Your sales pipeline is a representation of where all of your prospects are in the sales process, is essential. It helps you plan your likely revenue and gauge the state of your business. But it is reliant on the information you feed into it. W. Edwards Deming said, “you can’t manage what you don’t measure”, and this is never truer than when looking at your sales pipeline.

By integrating the lead generation and follow up with the negotiation and closing of the sale you have the opportunity to review your progress, understand the client’s requirements and maximise every opportunity, now or in the future. The days of isolated external salespeople pounding the streets and knocking on doors are gone. The companies making a success of sales are the ones who have an integrated support network to feed their front-line sales team with high quality leads ready to buy. Attracting the best sales professionals in a market where they have their pick of jobs means that you need the team in place to generate and nurture those leads.

Your Business Development Team provide an end-to-end strategic service that supports your existing sales team and puts your business in the front rank of companies the best wants to work for. We take you through the steps to creating and managing a sales pipeline that will fuel your sustainable growth.

  • Business Development Strategy – An integrated sales and marketing strategy is needed to bring focus to your activities. We build a clear understanding of your business to ensure that we can help you deliver your business aspirations
  • Lead Generation – In line with the strategy we find the best lead generation channels for your business. Digital and offline channels are used to ensure the best coverage of your ideal markets.
  • Lead Nurturing – This is the critical activity. Taking the time to nurture your prospects to the point that they are ready to buy can take your existing salespeople away from supporting and retaining existing business. YBDT’s lead nurturing service is the answer.
  • Sales Enablement – We support the creation of a tailored sales process for your business. Bringing a clear, concise, shared process together with all sales and marketing collateral into a single point will help embed the process in the company, and support ongoing staff training.

 To succeed in sales, you need to recruit the best people for your market. Being able to offer them a clear path to sales success is what YBDT can do for you, keeping your best sellers focused on the critical path to orders. If you want results-driven services that are tailored to your specific business targets and goals, we can help. Get in touch to learn more about what we can do for your business.