Reps typically promote value to make sure they stand out from the competition. Doing so also helps rationalize the cost to prospects.
Your value is infinitely more important than your price. To separate yourself from competitive options, you must establish an environment in which your prospect can clearly see the value and expertise that you provide.
Value is perhaps the most illusive word in sales. Everyone will tell you how important it is, very few can tell you what it is. I’ve already gone on ad nauseam about my distaste for the words “added value.”
How do you make a sales presentation? No I don’t mean warm up, probe, present, overcome objections, close. I mean what’s the big picture of your sales presentation?
There are six questions your prospects want answered before they buy. If you miss one of these questions, you jeopardize the selling opportunity. Let’s look at each question and why it is important to the buyer.
Want to know what buyers really care about? The latest research shows that it’s not price.
Do you really know the meaning and purpose of a value proposition? If not, you may be at a professional disadvantage and missing out on opportunities.
While consumers will continue to define value based on price, other key trends — including new product development, technology, store layouts and shopping patterns — will drive the market in 2012, according to new research by SymphonyIRI. More than half of shoppers still choose their store based on lowest prices, and 75% noted that price weighs heavily in brand decisions. However, SymphonyIRI anticipates that some shoppers will start to open their wallets more if positive economic reports continue.
Today’s retailers have little margin for error as they compete in multiple channels. Consumers have plenty of power packed into their smart phones and can easily take their business elsewhere if they don’t like the price they see in the store. McKinsey analysts argue that merchants can deliberately sway consumer emotions and position themselves as value operators in all channels by emphasizing details in their marketing that extend beyond price.