The Power of Value
September 20, 2022
What is it that every business wants? Sales, of course. Unfortunately, many times a sale is never made because all the business is interested in is making a sale!
While making sales, obviously, is a very important ingredient for the success of any business, winning over the customer must be a higher priority. Before a sale can be made, the customer must be won over by the business and feel secure in making a purchase.
Regardless of the industry, customers want benefits and solutions to their problems before they are going to make a purchase. This is the fundamental interaction between customers and businesses. Another way to look at this relationship can be summed up in one word...value. Whether it is a benefit that a customer is seeking or a solution to some type of problem, customers seek value for the money that they are going to spend whether it is a business purchasing from another business or an individual consumer purchasing from a business. Purchasers want value!
Often times, the beginning process of a sales transaction starts with an incorrect focus. The focus is either “I” or “we.” “I can do this or we can do this.” Customers do not care what a salesperson can do, what a salesperson knows, or what a salesperson wants. Likewise, they are not interested in how a product is made or what processes a company goes through to provide some type of service.
When “I” and “we” are used the genuine focus of a sale is lost. The reality is that purchasers don’t care about a salesperson or a company. They care about themselves and what the company can do for them. Purchasers want to know how a purchase is going to benefit them...not how the sale is going to benefit the company.
Incentive to Purchase
Purchasers need an incentive to purchase. The greatest incentive is for a business to provide value to its customers. What is it that customers want? What are their needs? What value are they looking for and how can a company provide this value?
Delivering value is what closes a sale. Whether it’s a complex negotiation or a simple over-the-counter sale, the focus remains the same. Whatever a customer is purchasing, they want to purchase value.
The path forward for any business is to understand the power of value and how to deliver that value with the most efficiency to customers. When a business understands the power of delivering value, it then receives value by way of sales. But, businesses through their employees need to understand where the focus should be. “I” and “we” must be replaced with “you” meaning the customer.
Power of Value
When employees understand what is most important to customers, then sales become much easier. Although everyone likes to talk about themselves and their businesses, the challenge is to focus on value, the customer, and how the business can provide what the customer wants...value in one form or another. Keep the focus on value, understand the power of value, and be persistent in discussing value with customers.