?? Selling on Value... NOT Price

Why is selling on value is more important than lowering your price? ??

You win the deal either way... right? ????♂?

You may have faced the situation where a potential customer asks you to lower your price, or match a competitor's offer.

You may be tempted to do concede, thinking it will help you close the deal faster and hit your targets sooner.

However... that's a short-sighted and risky strategy that will hurt you in the long run!

Why?

Because lowering your price means that you are?not?selling on value, but on price alone.

?? You are not communicating the unique benefits.

?? You are not differentiating yourself.

?? You are not building trust with your customer, but rather creating a transactional and (crucially) price-sensitive relationship.

Selling on?value, on the other hand, means that:

?? You are showing your customer how your product or service can help them achieve their goals, solve their problems, and satisfy their needs.

?? You are showing value and the return on investment (ROI) that your product or service can deliver.

?? You are positioning yourself as a trusted advisor and a partner,?not just a vendor.

So, creating value for your customer,?not just offering a price, unlocks a whole raft of benefits:

• You can charge a?premium price?that reflects the value you provide, not the cost you incur. Increasing your profit margin. ??
• You can?avoid price wars?that erode both profit margins and your brand value. ??
• You can avoid?losing customers to cheaper competitors?who might offer inferior quality or service. ??
• You can?increase customer satisfaction?and loyalty?by delivering value that exceeds their expectations. ??
• You can?increase customer retention?and referrals?by building long-term relationships based on trust and mutual benefit. ??
• You can?attract more customers?who are looking for value, not just cheaper prices. ??
• You can also target more profitable segments and niches that are?willing to pay for value. ??

So, how CAN you sell on value, not on price?

Well… for a start - you can watch my new LinkedIn Learning course about JUST THAT: ??

But for the TL;DR version… here are some quick tips:

1. Gather customer requirements?- truly understand their needs and requirements so you can provide a?solution?to their?problems. ??
2. Educate the customer?- so they understand what ‘good’ looks like! There’s no point in trying to show value to someone that wouldn’t know it if it slapped them in the face! ??
3. Link value to needs?- again, teaching the customer how your product or service solves their problems and pains. Remember, people don’t buy drills… they buy holes in their walls. ??
4. Focus on benefits?- ‘Features’ are great but nobody really cares about them… ‘Advantages’ are better but they’re not why people buy… ‘Benefits’ are problems being solves, lives being improved and value being added. THAT is why people buy what they buy! ??

Selling on value is not easy, but it is worth it.

Remember, value is in the eye of the beholder, and your job is to make your customer see it and appreciate it.

? Don't sell yourself short by lowering your price.?

? Sell yourself high by selling on value.

And remember… don’t sell the pen - sell the SOLUTION! ??

WANT MORE?

Get a FREE month of LinkedIn Learning here:?https://linkedin-learning.pxf.io/c/2515825/449670/8005

Find my LinkedIn Learning courses here:?https://www.dhirubhai.net/learning/instructors/miles-croft

Find my Udemy courses here:?https://www.udemy.com/user/milescroft/

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HAPPY HUNTING!