In the current day's market place so many product and services considered a commodity. If there are no added value elements, the sale will generally be driven down to the lowest denominator - price.
Value added selling is a strong way to improve your sales revenue, increase margins and provide extra advantages to your clients. Hence why don't all sales folks practice value-added selling?
This article discusses 3 of the common myths about value added selling and the reality behind the myth. Keep reading to the end to get a simple and effective sales tip to help make you more successful.
Myth 1 - Value added selling is only applicable to complex products
Reality . Value added selling is certainly easier to define for complicated or complex products. But these days, even commodity products are getting a marketing make-over with more 'feature focused' messaging. Creating ways to differentiate products from the competition is necessary for the survival of any product or brand. If your sales strategy is defined by being 'being price competitive', I recommend that you create a more effective strategy, fast!.
Sales Tip - When you want to quickly and easily develop a value-added element to your sales presentation, ask yourself this very fundamental question, "what will my customer be willing to pay for?"
Myth 2 - All buyers are value added targets
Reality . It'd be great if you could apply value added elements to every sales situation. However , not every customer wants to pay more for the extra value you could bundle in the offering. Some buyers simply need and desire a bottom line price with the least amount of frills. Don't confuse 'value customers ' (attempting to find the smallest price) with 'value added customers'.
Myth 3 - Value added selling is a Lot of additional work.
Reality . Yes, value added selling does need some added work. But , consider this - when you increase the value of your service, you are attaining 3 vital business fundamentals:
1. You are (generally) increasing the total size of your order.
2. Your client is getting 'more for their money ' - therefore making them happier and more loyal to you.
3. Your value added offering was probably what enabled you to win over the competition. Consider this fact - it costs 6 times as much to find and gain a new customer. If you get this business trifecta, wasn't a little more effort worth all of the results you achieved?
In closing, here's a straightforward sales tip to recollect. Have you heard the phrase, 'beauty is in the eye of the beholder '? There's a similiar phrase in the world of value added selling, and it is going like this: "Value is in the mind of the beholder". Sales Tip :Be sure to have a clear and comprehensible value proposition that you client can relate to simply!
Value added selling is a strong way to improve your sales revenue, increase margins and provide extra advantages to your clients. Hence why don't all sales folks practice value-added selling?
This article discusses 3 of the common myths about value added selling and the reality behind the myth. Keep reading to the end to get a simple and effective sales tip to help make you more successful.
Myth 1 - Value added selling is only applicable to complex products
Reality . Value added selling is certainly easier to define for complicated or complex products. But these days, even commodity products are getting a marketing make-over with more 'feature focused' messaging. Creating ways to differentiate products from the competition is necessary for the survival of any product or brand. If your sales strategy is defined by being 'being price competitive', I recommend that you create a more effective strategy, fast!.
Sales Tip - When you want to quickly and easily develop a value-added element to your sales presentation, ask yourself this very fundamental question, "what will my customer be willing to pay for?"
Myth 2 - All buyers are value added targets
Reality . It'd be great if you could apply value added elements to every sales situation. However , not every customer wants to pay more for the extra value you could bundle in the offering. Some buyers simply need and desire a bottom line price with the least amount of frills. Don't confuse 'value customers ' (attempting to find the smallest price) with 'value added customers'.
Myth 3 - Value added selling is a Lot of additional work.
Reality . Yes, value added selling does need some added work. But , consider this - when you increase the value of your service, you are attaining 3 vital business fundamentals:
1. You are (generally) increasing the total size of your order.
2. Your client is getting 'more for their money ' - therefore making them happier and more loyal to you.
3. Your value added offering was probably what enabled you to win over the competition. Consider this fact - it costs 6 times as much to find and gain a new customer. If you get this business trifecta, wasn't a little more effort worth all of the results you achieved?
In closing, here's a straightforward sales tip to recollect. Have you heard the phrase, 'beauty is in the eye of the beholder '? There's a similiar phrase in the world of value added selling, and it is going like this: "Value is in the mind of the beholder". Sales Tip :Be sure to have a clear and comprehensible value proposition that you client can relate to simply!
About the Author:
A good resource to get more tips on value added selling and other ways to grow your sales and margins is the web site PinnacleSelling.com. There you'll find a rich source of sales tips and sales methods. These are brought straight to you by Joe Mangano, PinnacleSelling's Founder and Editor. He concentrates on helping sales folk, sales management and entrepreneurs improve their sales performance.
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