Why be a Value-Focused Seller?

Another Newsletter?

Why care?

Well, if like most Sellers you consistently focus on Buyer needs, consider this:

Addressing needs gets you onto the shortlist. That is all.

The Seller that wins, beating all competitors, is the one that satisfies Buyer Perceptions of Value. And what are they? Well, whatever Buyers think they are, as I'll explain later.

And it is how top-performing Sellers consistently achieve win rates of 70% or more.

Needs motivate people to buy,

but Value is what they buy.

Now, there are any number of books, blogs, papers, posts, videos etc., on Needs Discovery.

But Value Discovery? Not much.

Yet discovering what Buyer’s value and then being seen as the source of that value is the one sure way to consistently win sales.

And so, if you want to be that Seller you might appreciate the unique tips and strategies I will be sharing in these newsletters.

Here are some initial insights to get you started:

The problem with selling value

‘Selling value’, ‘adding value’, ‘creating value’ etc. are expressions entrenched in our sales vocabulary. You may even use them yourself. Yet ironically, you can’t do any of those things, which is the first thing to understand about value. You see…

Value is received not given.

As Sellers we provide products and services, not value. And Buyers only get value from those things when/if they use them. Not before.

Adopting that mindset will shift your perspective 180-degrees, from that of a Seller to the perspective of Buyers to understand their desired experience i.e., what will it be like for them when they are getting the value they want?

Understand that and you can then position your offering to enable them to get that.

Value Discovery vs. Needs Discovery

So what is the difference then between exploring what Buyers value and what they need?

Needs are typically a set of requirements, they are essentially inputs that they hope will achieve a desired outcome. They are the stuff of RFP’s for example. Value though is the desired outcome, the desired results. That is the 180-dgree shift I mentioned. Instead of starting with needs:

Focus on discovering the outcomes Buyer's want and then collaborate with them to explore what they will need to achieve those outcomes.

This simple comparison of needs and value discovery illustrates the difference in approach:

Needs discovery: ‘Can you tell me what you are looking for in a mobile phone?’

Value discovery: ‘Imagine you have your new phone, tell me about the experience of using it, for example, what can you now do that you couldn’t before?’

See how much more informative the value insight is? Value discovery results in wide-ranging and revealing conversations. And you gain insights your needs discovery competitors simply don’t get. Insights that enable you to be in a much stronger position to become what Buyers want.

In addition, Needs Discovery, which is substantially Q&A, feels like an interrogation to Buyers, something to be endured rather than enjoyed. The conversational style of Value Discovery on the other hand is enjoyable. It doesn't feel at all 'salesy' and it creates a much more productive Buyer/Seller dynamic.

What is value then?

It is whatever Buyers (not us) think it is. And it is not a thing so much as a perception, a personal one at that. Like beauty it is in the eye of the beholder.

And what do Buyers value? You already know that. Buyers after all are just people...

??Job Security

??Advancement

??Recognition

??Stress Reduction

??Job Satisfaction

??Family time

??Social Contribution

etc, etc.,

You get the picture. Point is, you won't find much of that in an RFP nor in a Needs Discovery, which is why Value Discovery is so critical.

About now you are probably thinking 'what about company ROI, cost/benefit etc., Aren’t they about value?'

Yes, they are. They are outcomes (value) to the business. But here's the thing. It is in enabling their business to get what it values that Buyers get what they value. That is why they come to work!

Make no mistake, WIIFM really is a thing,

‘What’s In it for Me’ motivates buying decisions.

If you doubt that. Can you imagine a B2B Buyer recommending a purchase that will disadvantage them personally? Is a Buyer going to vote for an offering that delivers more stress, less recognition, less time with the kids and so on?

Not likely.

And that happens regardless of how scientific and logical the purchasing process might appear to be. At the end of the day, humans make a call and we can't help but be human.

Bottom line: when Buyers (people) see that you empower them to get what they value, better than anyone else can, they will buy from you.

And that is what I will be exploring in coming editions. You will receive a steady stream of insights and useable tips on strategies to:

1.????Discover Buyer personal Perceptions of Value (POV).

2.????Create the connection between your offering and each Buyer's POV by illustrating how it empowers them to gain that value.

Eliminate Discounting

One final thing. Having a value focus is a sure way to eliminate discounting. Except for the issue of affordability (they just don't have the cash) requests for discount are thinly disguised code for 'I can't see the value.'

It is surprisingly easy then to eliminate discounting by having value conversations rather than price conversations (which never go well) and I will be sharing practical tips and strategies on how have those.

Don't forget to hit Subscribe to be sure you get those tips and more!

There will be no sales offers or promotions. Just, well, value. And if ever you are not getting value from me, don’t hesitate to let me know!