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Value Based Selling
Value-based selling is a strategic approach for sales that mainly focuses on understanding the unique value that a product or service can provide. It doesn't solely focus on features and pricing but also emphasizes the benefits and outcomes customers would gain.
In value-based selling, sales professionals aim to uncover the customer's pain points, needs, challenges, and goals. Value-based selling involves effective and robust communication to collaborate with the customer throughout the sales process.
What is value-based selling?
Value-based selling is a strategic approach that allows one to understand and demonstrate the unique value of products and services that can be offered to customers.
Its sole purpose is to align the customer's needs, challenges, and goals by identifying the customer's pain point and positioning the product or services as the solution to cater to the pain points and deliver them with tangible or intangible value and building long-term relationships with the customers.
What are some value based selling examples?
Value based selling focuses on aligning the product or service’s value with the customer’s specific needs. Some examples include:
- A SaaS company showcasing how its platform reduces operational costs by 30%.
- A cybersecurity provider demonstrating how it prevented data breaches for similar businesses.
- A consulting firm highlighting how its strategies improved a client’s revenue by 20%.
- A healthcare technology company proving how its system enhanced patient outcomes and reduced readmission rates.
These value based selling examples emphasize solving real problems, improving outcomes, and delivering measurable ROI.
What is the difference between value-based selling vs. solution selling?
Value-based selling and solution selling are both considered customer-centric approaches.
However, the difference is that value-based selling focuses on understanding and communicating the unique value that a product or service can provide to the customer. It highly emphasizes demonstrating the value proposition and ROI to differentiate the offering.
While solution selling focuses on identifying and addressing customer needs and challenges, solution selling involves comprehensive solutions that meet the customer's needs, where the sales professionals help to collaborate with the customer to identify the solutions.
What are the techniques for value-based selling?
Some of the techniques of value-based selling are:
- Value proposition development
- ROI analysis
- Benefit oriented approach
- Collaborative problem-solving
- Follow-up with the customers
What is an effective value based selling approach?
An effective value based selling approach involves understanding the customer’s unique situation and presenting tailored solutions. Key components include:
- Assessing customer needs: Initially understanding the needs and challenges the customer faces and their goals. Asking questions and listening actively to gain insights about the problem areas and expected outcomes.
- Developing value proposition: Developing a compelling value proposition that clearly articulates the unique value and benefits offered. This mainly focuses on solving problems and saving time or money, and also helps increase efficiency.
- Analyzing ROI: Analyzing ROI demonstrates the product or services' financial impact and unique value. Highlighting over sales revenue growth or tangible outcome.
- Tailored presentation: Tailoring presentation to focus on the significant benefits and outcomes that foster engagement of customers. The display can include authentic lids examples to make it more engaging and offer value to the customers.
- Address customer's objective: Address customers by reframing them to context the value. Since the main aim is to solve the customer's problem, offer them the highlights of the product and services, which will help them resolve the issues.
- Collaborative problem-solving: Positioning the business as a trusted advisor and collaborating with the customers to find insights, ideas, and solutions that would be offered beyond products or services.
- Follow-up: Post sales, businesses should stay in touch with the customers to ensure the customer is experiencing the expected value. And in case the customer faces any issue, it should be resolved promptly.
What are the key principles of value based selling?
The key principles of value based selling help ensure a customer-centric approach:
- Understand the customer’s business challenges thoroughly.
- Focus on delivering measurable and meaningful value.
- Build trust through honest, consultative conversations.
- Quantify the return on investment (ROI) and business impact.
- Position the offering as a long-term partnership, not a one-time sale.
How to use success stories and testimonials in value-based selling?
Success stories and testimonials serve as persuasive tools in value-based selling. They can be used by:
- Sharing real customer experiences that highlight measurable outcomes.
- Showcasing similar businesses that achieved success with the solution.
- Using video testimonials for stronger emotional impact.
- Incorporating third-party reviews or case studies.
- Addressing common objections by demonstrating proven results.
Survei denyut nadi karyawan:
Ini adalah survei singkat yang dapat dikirim secara berkala untuk mengetahui pendapat karyawan Anda tentang suatu masalah dengan cepat. Survei ini terdiri dari lebih sedikit pertanyaan (tidak lebih dari 10) untuk mendapatkan informasi dengan cepat. Survei ini dapat diberikan secara berkala (bulanan/mingguan/triwulanan).
Pertemuan empat mata:
Mengadakan pertemuan berkala selama satu jam untuk mengobrol secara informal dengan setiap anggota tim adalah cara terbaik untuk mengetahui apa yang sebenarnya terjadi dengan mereka. Karena ini adalah percakapan yang aman dan pribadi, ini membantu Anda mendapatkan detail yang lebih baik tentang suatu masalah.
eNPS:
eNPS (skor Net Promoter karyawan) adalah salah satu cara yang paling sederhana namun efektif untuk menilai pendapat karyawan tentang perusahaan Anda. Ini mencakup satu pertanyaan menarik yang mengukur loyalitas. Contoh pertanyaan eNPS antara lain: Seberapa besar kemungkinan Anda akan merekomendasikan perusahaan kami kepada orang lain? Karyawan menjawab survei eNPS dengan skala 1-10, di mana 10 menunjukkan bahwa mereka 'sangat mungkin' merekomendasikan perusahaan dan 1 menunjukkan bahwa mereka 'sangat tidak mungkin' merekomendasikannya.
Berdasarkan jawaban yang diberikan, karyawan dapat ditempatkan dalam tiga kategori yang berbeda:
- Promotor
Karyawan yang memberikan tanggapan positif atau setuju. - Pengkritik
Karyawan yang bereaksi negatif atau tidak setuju. - Pasif
Karyawan yang bersikap netral dalam memberikan tanggapan.
How to do value based pricing?
Value based pricing involves setting prices based on the perceived value to the customer. The process includes:
- Identifying the customer’s pain points and quantifying the value delivered.
- Assessing the customer’s willingness to pay based on expected outcomes.
- Highlighting differentiation from competitors to justify pricing.
- Using customer feedback and market research to refine pricing models.
- Continuously evaluating performance to ensure pricing aligns with delivered value.
