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Many companies struggle with how to express the value they bring to their customers in terms those customers can understand. The reason is that salespeople themselves usually don’t understand their value and aren’t working to find ways to effectively communicate them. That’s one reason why closing rates run at around 15.0% to 20.0%. What makes it even more frustrating are the two deadly sins committed in sales – sales managers who act out the role of “super salesman”, rather than super-coach; and failure on the part of salespeople to effectively articulate the value they offer their buyers.
Salespeople who spend time understanding the value they bring and learning how to express it, in a way that customers can understand, will close more sales! The way you do this is by addressing problems solved and opportunities unexploited rather than focusing on pushing products and services. Here are a few steps that will help...
Make a list of all the problems you solve for customers: Your list should contain at least 10 to 15 things that occur amongst your prospects and that cause them sleepless nights. If it isn’t easy to create the list, get on the phone to customers and ask them what problems they have in their business that you could solve for them. Make sure you write these down
Craft a value message around those problems and not the features and benefits of any specific product: That means you have to explore what causes the problem, what impact the problem has and the cost of that problem to the buyer, if it is not addressed. By focusing on the problem, rather than the solution, you get a picture of the pain your buyer is feeling and learn to present solutions in a way that is more meaningful to that buyer.
Use case-studies to explain what life was like: One of the most effective ways to communicate the positive impact of a solution that has been implemented is to describe what problem a customer had and its impact, before and then after the solution you delivered.
When you do this stick with the facts. Too many salespeople tell stories about how they were the knight who rode in on the white horse, saved the day and now are their customer’s hero. But that’s not the way to tell stories that resonate with prospects. Being straightforward and factual will gain far more credibility
Remember: Most people in sales view it as a numbers game. Their philosophy assumes a certain closing percentage – the more people you contact the more sales you make. Instead, think of selling as a value game. The better you can express your value, the more sales you’ll close.
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