"YOUR price is too high. We are happy with Company Y's products. Why should we switch to yours?"
Does this sound familiar? The fact is, a potential client will only consider a change when there is a very good reason to use your product or service.
People buy to satisfy a variety of needs, for example, to save time, avoid effort, gain comfort, improve health, escape pain, be popular, gain praise, increase enjoyment, gratify curiosity and emulate others.
Value creation selling is meeting the specific needs and wants of the customer. That means, you sell only what the customer is interested in, which is referred to as "hot button selling".
A customer may not be paying attention to your sales pitch, so don't focus on just making a presentation. So what if your product has the fastest speed? If the customer is not interested, drop it, and don't mention it again.
Let's look at the following formula and analyse each component:
Value creation = Value product or service + Value service excellence + Value relationship + Value image.
Value product or service
When you want to sell a value product or service, this involves discussing specifications, introducing a product matrix, creating a comparison chart of your product and its competitors, listing outstanding features, citing awards, statistics and investments in research and development.
Discover what issues concern the customer. Be well-versed about the product, because when a customer is interested in it, he wants to know more.
Show him proof, facts and figures to excite him. He may even ask you things about the product that he already knows just to test your knowledge and integrity.
Value service excellence
Customers today are aware of what constitutes good customer service, and demand it as their right.
If your customer's priority is service, highlight the service benefits that you and your company can provide, such as a quick response time, a copy of the service contract, well-trained technicians and how much your company has invested in training staff in customer service.
Ask your customer about the areas of service that he is concerned about and his expectations, and reassure him that these can be met. Ensure that you can deliver on your promises.
Gather testimonies from your prominent customers commending you and your company's good service. Testimonies offer proof of your company's excellence and are very persuasive marketing tools.
Customers don't just buy products or services from a company, they establish a relationship with its people first.
In Asia, relational selling and buying is particularly important. Asians prefer to do business with people they feel comfortable with and people they like.
So get to know your customers first. Then they will buy from your company through you.
Before talking about business, make a personal connection. Spend a few minutes finding out about the customer's interests and hobbies to identify some common ground.
Build a relationship and it will open the way to a sale. Because the customer likes you, he will be much more receptive to your presentation and using your product or service.
Customers may be concerned about the image of your products and how they look when they use them.
Is your product a brand leader and a symbol of quality? Show them your satisfied customer base and the percentage of your market share.
If prestige is a big issue for a customer, highlight market leaders that are in your customer base, and show him the testimonies from these companies.
The heart of value creation selling is targeting your customer's desires - what's on his shopping list, his expectations and his company's agenda - and meeting them.
This is your customer's pre-requisite for doing business with you. He may not spell it out clearly at times, but he is sending you strong indicators about where he is coming from.
The only way to discover what he needs or wants, is to ask questions. If you know what to ask, he will be happy to tell you.
At every meeting with your customer, make sure you go prepared with a bank of questions so that you can draw a more complete picture of his needs and wants.
Always write down all the important information and summarise the outcome of every meeting so that you know what it takes to deliver a great customer experience. This is a mark of the sales champion.