Every business in some way builds a bridge to the customer. This bridge may be supported by various columns such as price, solution, delivery, credibility of the vendor (both salesperson and company), past customer loyalty, etc. One of the strongest columns is something called value.
Value is the strongest of all the columns. Yet it looks different for each customer, because value is unique to each buyer.
What one buyer may consider being of value is not the same for the next buyer. The auto industry is a great example. Some people want a small car while others find value in a much larger vehicle. Brand loyalty more often than not is intertwined with value.
The mistake some salespeople make is they think they can create value. This value creation is based upon their experiences with past customers or their own biases about the perceived value of their solution (product or service).
Value is connected to some emotion. As it has been said for years, people buy on emotion; justified by logic.
Discovering value happens through research on the part of the salesperson and even more importantly actively listening to what the prospect wants when that first sales opportunity meeting happens. With ongoing sales research suggesting more decision makers have already engaged in significant research in their buying decision process before contacting any salesperson, active listening to the qualified prospect is critical to sales success.
Technology helps potential buyers to undertake their own value research. Real estate sites such as Zillow, Realtor or others educate (sometimes not accurately) about property opportunities.
LinkedIn continues to be an effective social media site to earn about the salesperson, the prospect or a current customer. This site through its discussion groups and various posting is a wealth of information for the business professional. Information in many instances can reveal some indication as to what the sales prospect values.
When salespeople make the mistake they can create value, this allows the salesperson’s ego to open the door and walk through. In sales, the ego must be left at the door.
Through actively listening and selective questioning, any salesperson can learn the some of the value drivers for their sales prospect. Then they can continue to build that bridge so a successful buying decision can be made in their favor.
Next week, another misconception about value is discussed.
Leanne Hoagland-Smith is an author, speaker and executive coach. Her weekly column explores issues that impact the bottom line of firms with fewer than 100 employees. She can be reached at 219-508-2859.