WHAT MAKES VALUE A STRUGGLE for SALESPEOPLE TO SELL

Recent surveys have identified the three greatest hurdles most salespeople face when attempting to sell value. The studies revealed salespeople are not:

·       Meeting with the right decision makers

·       Differentiating their solution

·       Creating enough value for customers

  Here is how salespeople can combat these three challenges:

Getting In Front Of The Ultimate Decision Maker

The number one Challenge most sales people face is meeting with the ultimate decision maker. The majority of salespeople spend 34 per cent of their face-to face selling time with procurement departments. They are attempting to sell value to the most price-sensitive decision maker.  When pursuing a new opportunity, start with high-level decision makers (HLDMs) HLDMs are upper management . They include business owners, executives and directors. On the average, salespeople spend less than 7% of their selling time in front of these decision makers. These decision makers think differently and buy differently. HLDMs have five areas of concern: 

• Profitability
• Cash Flow
• Competitive Posture
• Development if Resources
• Customer satisfaction

You must demostrate how a partnership with your company will help them improve in these key areas. Your failure to do this , puts you at the mercy of a price sensitive buyer where the only discusion will be about price and convenience. Getting an initial meeting with an HLDM is challenging. HLDM are busy, but they will make time for people that can help them achieve their business objectives. Here are some tips when pursuing HLDMs:

•  The most effective way is to initiate contact with an HLDM is to get a referral from someone. A referral gives you instant credibility and they are more effective than a simple cold call. In fact the journal of Marketing Research claims that one referral can be as effective as twelve cold calls.
• Create Value in your communication. Tell the HLDM something they don't already know. Provide them with a new idea or insight. Be persistent in your communication and use multiple sources:   Phone, e-mails, Letters, etc. 
• Arrange a meeting between yout high -level managers and your prospect's HLDM. This is called a high level schmooze.This shows the prospect that that you will support their business at the highest levels within your organization

DIFFERENTIATING YOUR SOLUTION

What makes you different than your Competition?

This is one of the most difficult questions for salespeople to answer. To answer this question, consider your total solution. Ask yourself three fundamental sales questions:

·       Why should the customer buy our products?

·       Why should they buy from our company?

·       Why should they buy from me, their salesperson?

Most salespeople answer the first question with product, features and benefits (PFBs). A generic PFB presentation blends in with the competition, especially if you are selling the same products. Rather than focusing on features and benefits, consider how you service the products you sell. Do you package it differently? Do you offer extended service? Do you offer better delivery? Customers want to buy from companies that are easy to do business with. Be able to explain or demostrate the value your company adds to the overall solution. This includes number of locations, inventory levels, reputation, post-sale support, etc.     

  According to Reilly Sales Training internal research, the salesperson represents 25 percent of the total value of the solution. Demonstrate the personal value you bring. Your personal value includes integrity, follow-up, personal service and ability to solve problems. You represent a unique dimension of value. There is only one of you.   However when you are presenting your personal value, it’s not enough to claim you have integrity or problem solving skills. YOU HAVE TO PROVE IT. Be sure to have and use Testimonials supporting your claims, because they have heard all the claims before.

FINDING WAYS TO CREATE MORE VALUE

Andy Grove, the intel founder, famously said, "Success breeds complacency. Complacency breeds failure. Only the paranoid survive." Too often salespeople become complacent with their top customers. A complacent salesperson works just hard enough to merely satisfy the customer. Creating more value begins with embracing the right attitude. A little paranoia can do some good. What if your best customer was really your best prospect? Would you treat the customer differently ? Chances are you would try a little harder and think a littlr deeper. You would obsess over new ideas or new ways to create value for that prospect. Remember, your best customer is a prospect for the competition. Right now, there is another salesperson competing just as hard – maybe even harder for that opportunity. Look for ways to reinveny yourself to relevance and create more value for your customers. Ask these three questions to get started:

1. What Does my customer hate doing that I can do for them?

2. How can I improve our ene-to-end customer experience?

3. What can I do to make it easier to do business with our company?

Selling value is one of the greatest challlenges sales professionals face. Depending on your attitude, these three challenges represent either a hurdle or an opportunity.     Start with the right person. Identify and pursue the high-level decision maker from the very beginning. Demonstrate how a partnership with your company will help the HLDM achieve their business objectives. Be prepared to answer the question, “Want makes you different from the competition?” Finally never stop looking for ways to create value for your best customers. Remember, your best customer is the competition’s best prospect.

 (Modified from article on Industrial selling in Industrial Distribution)