5 Ways to Confidently Sell on Value Rather Than Price

Created & Updated: 9/30/20

I think you'd agree, the higher the ticket amount, the more value should be delivered, right?

If this is as much of a universal truth for you as it is for me, then we can agree that it makes sense for us to spend time learning all the easiest and fastest ways to pull out value from each of our product and service offerings.

With that said, I wanted to save you the effort in this process so, I did some research.

After a collab with my friend Anthony Chaine (pro-blogger in the sales space) and compiled together 5 easy ways you can use in your business TODAY to confidently sell on value rather than price.

And real talk for a second...

Experts agree that the average B2B salesperson and entrepreneur is way more comfortable talking about their products than discussing their customer business issues. Buyers seek solutions to their problems, not a salesperson or entrepreneur who regurgitate their product features, functionality, and benefits.

In fact, according to SBI, 87% of the revenue in complex B2B sales is generated by 13% of sales professionals.

Surprisingly, the gap between the best performer and the rest is narrower within the best-in-class sales organizations.

What sets these top-in-class organization apart?

I believe it's the implementation of a value-based selling approach across the entire sales and marketing organization that proves to be the winning differentiating factor between winners and the rest.

As my friend, Anthony said,

"Value selling is the art of asking the right questions, understanding the depth and nature of the problems that the buyer may or may not be aware of. Describe a wholistic state of the current issue and the consequences and cost of inaction."

A value solution requires the fusion of your business solution with a grade level of urgency in the mind of the buyer.

Status quo is the enemy of progress, and Your job is to move the buyer from doubt mode to active mode.

Many studies have revealed that more than 65% of qualified opportunities die because of buyer’s reluctance to take action, putting salespeople and entrepreneurs in financial shackles and constant state of uncertainty.

So here's the top 5 ways to enhance your value without spending hours of brain energy on thinking up new ideas.

1) Define & Frame Value From Every Angle

As Warren Buffet says, "Price is what you pay, value is what you get."

The best way to show value from every angle is to follow a simple formula: F.B.I.

Feature - Benefit - Impact

Do a 3-min brain-dump and list every feature of your product or service.

Now spend 2-min connecting each of these features with the benefit it gives the client.

Next, figure out what the positive impact of that benefit is.

Lastly, develop the negative impact of not having that feature and benefit would be.

Then use this language in your pitch.

Ex...

• Product - A cordless drill.
• Feature - cordless
• Benefit - don't need to be near an outlet to drill holes
• Impact - save time and unnecessary effort by not having to look for a plug
• Negative Impact of not having this feature - wife wants a picture hung in the shed, but there's no outlet and you don't have a massive extension cord. Because of this you don't hang the picture and your wife gets salty with you.
• Pitch - In order to prevent your wife getting salty with you, I suggest you invest in a cordless drill.

Now you've put yourself in a position to compare the value of your drill against the value of not having a salty wife.

And the only question in the prospects mind becomes what would I be willing to pay to not have my wife be salty with me?

I'm confident most men would pay north of $100-200 for a drill that probably costs $35 bucks at Home Depot, right?

Do this with every feature and benefit and you'll be able to value stack from every angle so the investment amount is FAAAR less than what the perceived value is.

2) Invest In Your Education

Most salespeople and entrepreneurs skilled enough to sell on value have figured it by trial and error or pure peer osmosis. Most companies spend little to no money on educating their salesforce on the competitive advantages derived from their products/services functionality, features, and benefits superiority.

Invest time with your SME (Subject Matter Experts) to learn about why each feature is created and combine with item #1 to continue value stacking.

Invest your own money to constantly enhance your communication abilities. Becoming a true expert in your ability to make things simple for others to understand, comprehend, and take action on will increase the balance in your bank account.

Plus, prospects can feel your level of intelligence through osmosis.

Never stop learning and mastering your craft.

3) Challenge Buyer Knowledge

Great information is not an added-value; it’s just data. Sophisticated buyers often do their homework ahead of most meetings.

They usually know what they want and the price they are willing to pay. It’s hard to sell value when the product/service sold is perceived as a commodity.

Professional Sales Ascenders know how to intelligently challenge buyer knowledge and assumptions while aligning the value proposition with the buyer’s vision.

Remember to get into the 3rd level of emotion (the reptillion brain as experts say) by using the proven 8 Magic Questions:

• Start with a Pain Indicator... (ex.. I'm stalled out in figuring out how to attract the perfect client)

1. Tell me more...
2. Can you be more specific, perhaps give me an example?
3. How long has this been a problem?
4. What have you done to fix it?
5. Did that work?
6. How much did it cost you?
7. How do you feel about it?
8. You haven't given up trying to solve it have you?

Your ability to identify your customer priorities and vitals area of challenges will create meaningful dialogue around specifics that require resolution.

Start specifically with one problem you know the prospect has and that you can solve, then build from there.

4) Stories Sell

Selling value is not all about an excellent delivery of facts, insight, and data. Instead, it’s about the flexible packaging of critical information into storytelling.

After honing in on client problems, relate a story of yours or a client of yours that incorporates having a similar problem that you had.

Then follow the ABT method...

And... But... Therefore...

I learned this one from Evaldo Albuquerque - one of the highest paid copywriters in the world that works at Agora Financial.

He said the ABT formula is perfect for sales story selling.

In his book, The 16 Word Sales Letter, he gives this example:

A lot of copywriters show proof and more proof and more proof, but they never create a story around those proof elements. Therefore, their sales letters become boring to read and fail to convert prospects into copywriters.

Product presentations are often plain dull.

Customer stories tend to allow the buyer to relax, think, digest the information, and decide.

According to the Gartner survey, 70% of executive buyers agree that “customer stories and case studies are the best way that providers can communicate differentiation that I trust.”

Remember that value is the perception gap in the eyes of the buyer.

Great salespeople know how to paint the current situation as is accurately and project the buyer through the art of visualization into the future to feel all the benefits derived from acquiring the proposed business solution.

Your customers’ eyes determine value, not you.

The art of visual empowerment and word-play works miracles.

5) It’s NEVER about you

Focus on the value that matters to the buyer, not to you.

Solve the problem that your perfect prospect has.

Don't try to force a round peg in a square hole... Meaning, if your product/service resulting impact isn't what the prospect wants, stop selling.

You'll garner more respect and will become a more of a trusted advisor if you recognize that your solution doesn’t fit and you're not bashful in telling them so.

The counter-intuitive PRO-TIP here is to propose an alternative solution even if it’s a competitor product.

It will boost your maturity and level of genuine care in their eyes.

And it will win you the admiration and trust of your prospect now and into the future and usually results in the opportunity to ask for (and actually get) one or more quality referrals.

Think long-term, your selflessness will pay massive dividends in terms of customer referrals, and competitors reciprocity with leads.

Conclusion

A reputable brain surgeon with 20 years of success will charge 20 times more than a peer with one year in the profession.

Patients are often willing to pay higher prices to be operated by a highly skilled surgeon (price does not matter when your life is online).

No one would chance it with an in-experienced brain surgeon at any cost!

However, we witness sales professionals with vast talent, knowledge, and competency compete as equals with rookie peers that turn customer experiences into nightmares.

Sales generalists tend to have a wide range of skills and expertise across multi-disciplines.

Sales Specialist possesses a unique mastery of a specific complex niche that has individual needs.

Expert knowledge should be promoted as a significant differentiator and a value-added competitive advantage.

Competing on price tells the market you are a commodity.

Competing on value positions your brand as a resource.

Be the best resource.

Have faith.

Believe.

You'll be rewarded 100x for your efforts in implementing these 5 secrets.

Happy Selling!

-sean ??

Go. ????. Fight. ??. Win. ??.

Ps... If you're an ambitious and hungry B2B biz owner wanting to join a tribe of true Sales Ascenders, get an invite to our inner circle by joining our private family here. We interview everyone in our community to make sure we facilitate a group that's meaningful to you and gets you results in your business.