GRASPING THE BASICS OF VALUE ADDED SELLING

GRASPING THE BASICS OF VALUE ADDED SELLING

Over the years I have noticed that the more successful the salesperson is in selling the more they have learned to focus on value rather than on price. This kind of approach inevitably also works towards to fostering a mutually profitable long term relationship with their clients and becomes an integral part of value-added selling for either product or services on offer. Moreover what these successful salespeople also understand is the customer satisfaction is relative to their actual performance and expectations – both for themselves as well as their clients.

For the majority of salespeople the idea of customer satisfaction becomes a very subjective thing to measure. In fact its really a matter of experiential perception based on experience. Subsequently, if the salesperson meets (or preferably) exceeds the prospects/clients expectations, their perception of the transaction will be a positive one. On the other hand, if the salesperson fails to meet the clients perceived expectations, they most likely be less than satisfied.

One of the easiest ways to ‘get a handle’ on how to approach the prospect or customer is to do your homework and undertake some really basic research. Within many industry groups there will be clearly defined expectations, which should serve as the minimum form that sector. It is up to the salesperson to get to know what they are and apply them as a yardstick to your performance. Then once understood the salesperson should endeavour to go well past what would normally be expected.

Another factor I would like to mention here is that over the years I have done a lot of public speaking. Now whether that talk was a paid presentation or one I gave for free I found it crucial to both do the homework of what kind of group I was talking to as well as then try and personalise the talk to suit the majority of the audience. Many times it meant calling a number of key people in addition to the research. Then once the research was completed I would call a few select individuals and further get their input. This was my way of value-adding the talk to suit the audience and in so many cases is still the same approach that I use to value-add whenever I am selling.

Work at Every Opportunity to Explore the Potential to Doing Business

When most people first start selling or perhaps start a business they may usually want to deal with everyone they come into contact with. This may works for the short-term for some, but is generally not a good strategy over the medium to longer term. And one of the thing that new sellers and new business owners need to get a handle on is to think hard about their need to stop doing business with some clients if the business they bring in is not profitable - either for the small business owner or to the seller that works for a company.

World-wide studies over decades have shown that on average, 80% of all business will be generated from 20% of the customers. (It's commonly known as the Perato Principle). Yet, many new (and ineffective) sellers still invest their time on clients which more often than not bring the lowest return on their investment.

In addition to that, those new at what they are doing generally try to be ‘all things to all people.’  Unfortunately, this approach is a sure-fire way to work yourself 'into the ground' and more than likely go broke. What they need to learn is that no business or individual cannot effectively sell, service, or supply everyone they would like to.

We all need to decide, very early in the piece, “what business you are in”, and what you are able to provide 'profitably' to the customers you choose to work with or supply, and at what price. The reason you need to do this is that you can’t service them all - especially if your business or time suffers because of it. Besides, you will not be able to supply or service any one of them if you’re no longer in business.

The one thing that is a must for all in business or in sales to learn is that the nature of selling (and the built in customer service that is packaged together with it) is a long-term investment in any business and the associated customer and follow-up services that are a part of it.

Not all Customers or Prospects are Definable Targets in Business

The minute you become fully aware on what business you are in, and what you can profitably provide within the market place you chose to be a part of, you will be able to better target, service and serve your customers.

Selling just for the sale of writing business, especially when you are not able to do this profitably or provide your service in a cost effective way, will inevitably lead to a loss of potential while building the business. The reality is that nobody can survive indefinitely or invest in expanding a business, if there are no profits.

Another thing that far too many people in business (and this is highlighted further through those that just wing it in sales) is that price is an important relationship between the buyer and the seller. Savvy business owners are aware that a good on-going relationship between the buyer and seller can improve the bottom line by 10-15% - and that alone gives the seller a wonderful edge on pricing. The seller does not need to expend the normal business running and canvassing gaining new business and/or advertising. 

Even if the seller has to surrender up to 10% to secure the sale to a long-term customer, the seller is still ahead on profits,

And a quick word on profits. Remember, profit is not a bad word, simply because profit is the lifeline of any business.

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This Article is by Peter Collins - In a sales career spanning more than 50 years, Peter Collins has focused on helping and bringing out the best in others - whether it involves training or mentoring salespeople, managers, business consulting to SME’s. Since the 1970’s Peter has built a reputation as a Nationally and Internationally Published author, and of the 130 books he has written over the past 48 years, Peter has 65 Business Books to his credit, (but he is mainly known for one book based on the Audio Tape series of the same name, Over 50 Ways of Closing the Sale). Peter also has written 23 Christian books. One of Peter's books, sold almost 2 million copies in the late 1970's and is still selling well through second hand online marketers worldwide. In his personal life, Peter has been sought after as an encourager and motivator that has given of his time and talents freely despite his busy schedule. Subsequently, he has assisted churches, pastors, community and charity groups, as well as individuals through his teaching, training, development and on-going mentoring.

? Copyright Peter Collins, Profit Maker Sales, Sydney, Australia, 2002, 2007, 2011, 2015, all rights reserved.

Peter can be contacted through his website – profitmakersales.com

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