Competing on Value Not Price

If you’re competing solely on price, then you’re not competing.

To increase the likelihood of a prospect buying, you must uncover value and connect to it. We do that by uncovering problems that the prospect faces and determine the value in resolving the problems, ultimately addressing the business issue.

One of the most important things for a successful salesperson to do is understand, and connect with, what is important to the person, or people, you are working with.

The competition can match your price. What separates your products or services from them is value. Whether the value is perceived or real, personal or business, it is the only thing that separates your products and services from theirs.

Understanding how your proposed solution will address the prospects’ business issue, as well as their personal situation, is key to grasping the measure of value to the prospects’ business. This is how they will justify the purchasing decision from a business standpoint.

Prospects determine the value of your solution based on what they perceive it will add to their business, or to them personally. Business value and personal value are the energy that fuels the deal.

If you could only get business value or personal value which one do you want?

Personal value! Once you have that you can work to build the business value!

Consider things through the prospects’ mindset, “What’s in it for me?” This ties directly to an individual’s personal agenda and personal value. Everyone is motivated. It’s our job as salespeople to uncover what motivates our prospects and then make a connection to it.

While we’re trying to solve business issues for their company, personal agendas and motivations are driving behavior. These personal values can provide enough value for anyone to make a purchase. When personal value is high, your prospect will work with you to craft and articulate the business value. If personal value is low, there is a good chance you will never win the business. The key is to help your prospects see the value from their perspective, not yours.

The value of what you sell is determined by each customer’s business needs. Value will change from one customer to the next, depending on the perceived significance of the need(s). To increase the likelihood of them buying from you depends upon how successfully you connect your solution to their business and/or personal objectives.

The fundamentals remain constant: Sell value. Don’t compete on price.

Scott Anschuetz is the CEO and Founder of Visualize, inc, and provides businesses with a proven and repeatable structure for increasing revenue.

Learn more at www.visualize.com