Selling with Features AND Value
In the realm of value selling, there's a common misconception that it necessitates completely abandoning traditional sales methods in favor of an entirely novel approach. Yet the reality is more of a recalibration than a reinvention. Here’s why value selling doesn't mean leaving feature and function selling in the dust but rather, augmenting these tactics for a comprehensive selling strategy.
The Balancing Act: Features AND Value
Value selling is about amplifying your sales approach, not substituting it. Instead of zeroing in solely on your product or service, it's about delving into your customer's challenges, identifying their pain points, and understanding the cost of inaction. It's not about renouncing demonstrations, but about enriching them with outcomes and return-on-investment (ROI) considerations.
Some sellers may balk at the idea of adding to their sales processes. After all, aren’t their plates full enough? However, introducing value selling isn't an addition; it's a strategic maneuver. When contemplating the typical B2B buyer’s journey, we find that buyers often need to provide financial justification to their higher-ups for approval. This process can be arduous and time-consuming, with buyers often struggling to compile a compelling business case. By injecting value selling into this scenario, we can alleviate the burden for the buyer and collaboratively develop a business case, providing significant benefits.
The Multifold Benefits of Value Selling
For one, your involvement in value selling can expedite the financial justification process, potentially cutting down an average two-month wait time to a much more manageable period. By ensuring that the business case is realistic, credible, and achievable, you can also preemptively address any future buyer regret or renewal issues.
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Aligning the business case with strategic initiatives is another significant plus of value selling. It can help with prioritizing approvals and avoiding late-stage hurdles that often lead to cancellation or severe delays. Furthermore, by adopting value selling, you can set yourself apart from your competitors, and highlight that your focus extends beyond functionality and rests also on delivering tangible outcomes and rewards.
The Bottom-Line: Value Selling Is an 'AND', Not an 'OR'
The real takeaway here is that value selling is not an alternative to traditional selling—it’s a complementary strategy. It’s about simultaneously proving functionality and aligning solutions with strategic initiatives, all while documenting outcomes and value. This parallel path can help buyers grasp the importance of the solution in mitigating pain points, aligning with key strategic initiatives, and delivering valuable outcomes.
In essence, balancing the technical path with the business path can ensure a comprehensive understanding for the buyer and create a win-win situation for all parties involved.
Checkout the full article here: https://geniusdrive.com/and-not-or-balancing-features-and-functions-with-value-in-selling/