Imagine you are selling home decor products. In that case, your target audience will be creative and expect you to be innovative. This requires more effort in order to convert them into customers. Your job is to make them buy your products on their own terms.
But in today's era, meeting customer needs can be a real challenge because what people like can change a lot. So, to succeed in this changing market, you also need to adjust how you sell products. Just like how fashion changes, your sales techniques need to stay up-to-date to keep your business going strong.
How can you boost your sales?
Value-based selling is the answer to this problem!
It can be the major deciding factor in whether or not your company is able to win over customers because it greatly improves the sales process.
Your sales can grow dramatically using the power of value-based selling!
“Price is what you pay. Value is what you get”. - Warren Buffet
Value-based selling is a sales technique that focuses on how the product or service will benefit the consumer, rather than just focusing on its features. This approach has turned out to be more effective than other sales techniques because it helps customers in seeing the value of the product.
When you use value-based selling, you focus on understanding the customer's needs and how your product or service can meet those needs. You also focus on enhancing the value of your product or service in a way that is relevant to the customer.
By focusing on the value that your product or service can offer, you can get your customer hooked. This eventually leads to more sales and a better customer experience.
An excellent example of value-based selling in a real brand context is Apple. Apple has successfully differentiated itself by emphasizing the value it offers to customers through its innovative products and user-friendly experience. They focus on highlighting how their devices simplify everyday tasks, enhance productivity, and provide unique features. By effectively communicating the value their products bring to customers' lives, Apple has built a strong brand reputation and achieved significant market success.
According to a survey, Apple is a highly influential and well-known brand globally. It played a significant role in popularizing smartphones through the iPhone. With a staggering value of over $2 trillion in 2021, Apple holds the title of being the most valuable technology company worldwide.
There is no need to market your product when you’re using value-based selling techniques as your products will sell themselves.
Customers are the heart of your business. Therefore, customer-centric selling should be your main focus as this will eventually be beneficial for the success of your company.
Value-based selling provides several benefits for your company since it puts first the interests of your consumers.
Value-based selling is effective in shortening your sales cycle.
Through value-based selling you can focus on the value your product or service can offer to the customer. And, this means understanding your customer's needs and pain points. After clearly understanding your customer’s needs you can show how your products or services can solve their problems.
When you focus on the value that your product or service can offer, you're more likely to convince customers to buy from you quickly. This is because customers are more likely to buy something that they believe will benefit them immediately.
By focusing on the value of your product or service, you can shorten your sales cycle and close more deals.
Value-based selling techniques can act as a powerful negotiating tool that can help you increase your revenue. By focusing on the value of your product or service, your customer is willing to buy those products at a reasonable price.
With the use of value-based selling techniques, it will improve your sales performance. This way, you increase your revenue by starting with value-based selling tactics. By focusing on the value that you can offer to your customers, you can build stronger relationships and increase your prices over time.
Value-based selling techniques work wonders in increasing customer retention. When you focus on the value that your product or service can offer to the customer, they are more likely to come back to you for future purchases.
This is because value-based selling helps you build a stronger relationship with your customers. When you understand their needs and how your product or service can help them, they are more likely to feel like they can trust you. This trust can lead to repeat business and referrals, which can help you increase your customer retention.
Value-based selling is about understanding your customers' needs, delivering unique value, and building strong relationships. Let's have a detailed look about how to get started on the path to successful value-based selling.
You should understand your prospects, in order to add value. In-depth understanding of your prospects helps in improving your sales performance through relationship selling.
By understanding your prospects, you can pinpoint their problems and describe how your solution gets them efficiently from one point to another.
It is very important that you do a thorough background check on your prospects before approaching them with a solution.
When you are getting ready to contact your prospect then you start searching for:
For instance, you are looking to do research to connect with your prospects, so that you search for their contact information but you have tons of contact details in your hand with different documents.
What will you do? In case, If you go through one by one it will take too much time to call and conduct meetings with your prospects. Right? Where Zixflow plays a role.
With Zixflow, you can easily manage all your customers' information in one centralized place and ensure that you can easily add additional details about your business requirements. There you can sort information about the person, and you can use filters to see what you exactly need. Moreover, you can easily import or export a database of your clients' details.
To know more about your customers, it is important to engage and track their progress regularly. For that, you can use Zixflow. Why? Because it has a customizable dashboard.
For instance, you can see the meeting status and time. And it also sends notifications and alerts for upcoming meetings. And after every meeting, you can simply drag and drop the updates from the previous meeting. Moreover, you can add items of your business preference.
While tracking or knowing your prospects, it is essential to follow up. Let's imagine you owned a bookshop. One day, a girl came to your bookshop to buy a book that she wanted to read. Unfortunately, that book is not available at your place. What will you do? In that situation, most will immediately say that it is not available, right? Instead of that, you can politely say when she expects the book, ask for her details, and then send updates. You can also recommend other books.
By doing this, you can increase the chances of loyalty, while at the same time, customer engagement leads to increased sales. Everything is good, but how will you send an update to her? Do you use your personal space? No, you can't. She is not the only person who came, right? You may meet multiple clients. You have to send regular follow-up messages without any delay or failure.
But, what is the solution? Here, Zixflow enters the chat. With Zixflow, you can automate tasks such as follow-ups, sending regular reminders, signing up for emails, and more. So you never miss any updates and stay active, leading to increased sales engagement activities.
You gain two important advantages by encouraging your prospects to ask questions.
Speaking and listening skills are both important for value-based selling. Asking genuine questions is the best way to show that you truly want to help your prospects, who want to feel heard, and eventually you build up sales engagement.
By doing so, you may determine the value of your offer to a potential customer and determine whether making a transaction is in their best interests.
By being aware and emphasizing the reasons why your product is useful to customers, you can increase the price and chances of a transaction.
This is because when you can clearly describe the value of your product, you'll be more likely to attract customers who are looking for a solution to their problems. And when you can demonstrate that your product is the best solution for their needs, they'll be more likely to be willing to pay a higher price for it.
Get inspiration from Apple and take a cue about how Apple advertises its MacBook Pro with a clear description of its value to their users, and gives reasons why it's useful and encourages their customers to buy.
A sparkling outfit and a forceful attitude come to mind when you think of a salesperson. However, the reality is that this stereotype was created as a result of average sales tactics used in the past. You must establish meaningful interaction with clients when you set out on a value-based selling trip.
Encourage your clients to think about their own problems by asking them. Learn what issues you are attempting to resolve.
The focus of your interaction should be on satisfying their unique needs rather than impressing sales prospects. Sell the benefits of your product rather than its characteristics.
For example, Smytten is an online beauty product shopping app, with its primary target market being women. They recognized that, due to online shopping, it can be challenging to determine the quality of a product. To assist their customers, they introduced trial packs. These trial packs help customers identify products suitable for their skin type, ultimately boosting sales.
As a result, you extend a helping hand and help them get over any discomfort they experience. Your prospect is prepared to make a purchase once trust has been built and the value has been demonstrated.
Your value-based selling strategy can be streamlined using specific techniques. They will support you in making wise choices and streamlining your sales procedure to achieve the ideal outcomes.
When you encounter a potential customer, it's important to avoid the temptation to immediately promote your products or services.
Even if you've gathered a lot of information about your prospect's needs in the initial stage, it's better to hear it directly from them. Let the customer tell you exactly what they need.
By doing this, not only will you build rapport in sales and trust, but you'll also show your genuine interest in assisting the prospect with their challenges. This increases the chances of successfully closing the deal.
Value-based selling is a sales technique focused on building a trustworthy relationship with customers by demonstrating how your product or service can genuinely benefit them.
You only have one opportunity to gain their trust, so take it. If you happen to let them down, you risk losing the client. When you demonstrate your expertise in your profession and uphold it, the other person will trust you. To do that, you must learn as much as you can about your product or service and acquire as much information as you can.
Establishing a reliable and dependable relationship with customers is crucial for any business. One brand that exemplifies this is Zappos, an online shoe and clothing retailer. Zappos focuses on providing exceptional customer service by going above and beyond to meet their customers' needs.
They offer free shipping and returns, a generous 365-day return policy, and a 24/7 customer support team that is always ready to assist. By consistently delivering on their promises and prioritizing customer satisfaction, Zappos has built a strong and trustworthy relationship with their customers.
Be sincere while doing so. Be truthful and inform them if you don't know something.
Building trust is much better than tricking potential customers.
Sometimes, it can be quite challenging to convey that the product or service you're selling is genuinely beneficial for the customer.
As a result, it's essential to skillfully align or fit your product or service with their specific needs. When they get to know the advantages, it becomes easier to successfully close the deal, ultimately marking the final step in the sales pipeline.
Another real brand that effectively communicates how their products cater to the needs of their customers is Nike. Nike has successfully positioned itself as a brand that understands and meets the demands of athletes and sports enthusiasts.
Through their marketing campaigns and product innovations, Nike emphasizes the performance-enhancing features of their athletic apparel and footwear.
They showcase real athletes using their products to achieve their goals, inspiring customers to believe in the brand's ability to support their athletic endeavors. Nike's focus on customer needs and aspirations has allowed them to build a strong and loyal customer base and they also use customer retention strategies to increase sales. Let me give you a video to understand this better.
Telling just a few details about your product or service is not enough. You need to educate the prospect first; you need to establish your credibility in their eyes, and they will turn to you often for guidance and information. Since you have already won their hearts by demonstrating your interest in finding a solution to the problem, it will eventually lead to the prospect being willing to buy your product or service.
One real-life brand that goes beyond mere sales and prioritizes educating their potential customers is Patagonia. Patagonia is an outdoor clothing and gear company that has established itself as a leader in sustainability and environmental activism.
Patagonia's commitment to educating its customers is evident through various initiatives and campaigns. One notable example is their "Worn Wear" program, which encourages customers to repair and reuse their clothing rather than buying new items.
Patagonia provides resources and tutorials on their website, teaching customers how to mend their clothes and extend their lifespan. They even offer a repair service where customers can send in their worn-out Patagonia products to be fixed by their skilled team of technicians.
In addition to promoting repair and reuse, Patagonia also prioritizes educating their customers about the environmental impact of their products. They provide detailed information about the materials used in their clothing and gear, including the sourcing and manufacturing processes through multiple channels and increased sales engagement. This transparency allows customers to make informed decisions and understand the ecological footprint of their purchases.
Keep a friendly and conversational tone while speaking with potential customers. It will demonstrate that you are there to assist the prospect rather than to close a deal.
Talking to your customer as if you're chatting with a friend is a great way to make your conversations more personal. These questions should not have simple "yes" or "no" answers, but you should make sure that your customer explains their thoughts or feelings.
To establish a long-lasting relationship with a prospect, you must always add value to your interactions with them. Another thing to keep in mind is that people won't want to talk to you if there's nothing in it for them.
When they receive nothing of value in return, they will feel as though their time was a waste. Therefore, the prospect should get something from every sales engagement activities. It doesn't have to be completely materialistic.
You must convey a sense of desire to the other person. You can accomplish this by allowing them to talk more during conversations, sharing information pertinent to their industry, and staying in touch frequently.
One example of a real brand that effectively adds value to its interactions while connecting with customers is Starbucks. Through their loyalty program, Starbucks Rewards, they offer personalized rewards and exclusive offers to their customers, making them feel valued and appreciated.
Moreover, Starbucks has created a welcoming and comfortable atmosphere in their stores, encouraging customers to stay longer and engage with their brand.
Here you can see how Starbucks actively engages with their customers on social media platforms, responding to comments and feedback, and even incorporating customer suggestions into their menu.
Thereby Starbucks goes above and beyond to create meaningful interactions with their customers, enhancing their overall brand experience.
During the pre-sales engagement process, a client can detect if you're being honest or not. It is crucial to demonstrate to the client that you value their business.
While being overly rigid might not be appealing, being organized is a positive trait. Therefore, when addressing a customer's objection, it's essential to first empathize with them, show that you understand their concerns, and maybe even summarize their issues before offering your response. This approach demonstrates your commitment to addressing their needs effectively.
This will put your prospect at ease and help you establish rapport.
Value-based selling techniques can be effectively utilized by addressing objections in a strategic manner. By understanding and overcoming customer concerns, you can showcase the unique value of your products or services.
For instance, let's consider a real brand example like Tesla. Despite initial objections about the high cost of electric vehicles, Tesla has successfully positioned itself as a brand that provides long-term value through its innovative technology, environmental sustainability, and lower maintenance costs.
By overcoming objections in sales and highlighting the benefits, Tesla has become a leader in the electric vehicle market.
You should have a deep understanding of your products or services. By effectively communicating the unique value propositions and benefits, you can showcase how your offerings meet the customer's needs.
A genuine brand that impressively showcases its in-depth understanding of products to its customer base is Sephora. As a leading beauty retailer, Sephora offers a wide range of skincare, makeup, and fragrance products from various brands.
What sets Sephora apart is their emphasis on product knowledge and education. Sephora's staff members, known as beauty advisors, undergo extensive training to become experts in the products they sell.
They are knowledgeable about ingredients, application techniques, and can provide personalized recommendations based on customers' needs and preferences.
Sephora stores feature interactive displays, where customers can test and try products, and beauty advisors are readily available to provide guidance and answer questions.
Sephora's website and mobile app also offer detailed product descriptions, ingredient lists, and customer reviews, allowing customers to make informed purchasing decisions.
Sephora's commitment to product knowledge is evident in their efforts to empower customers with information and expertise.
Sharing success stories and testimonials from satisfied customers can help build credibility and showcase the value of the product or service. These real-life examples provide evidence of the positive impact the solution can have.
One example of a real brand that offers case studies and testimonials is Coca-Cola. Coca-Cola has a dedicated section on their website where they showcase various case studies highlighting their successful marketing campaigns and initiatives.
These case studies provide valuable insights into the sales engagement strategies used by Coca-Cola to engage with their target audience and achieve their business goals.
Moreover, Coca-Cola also features testimonials from satisfied customers and partners, sharing their positive experiences and the impact Coca-Cola has had on their lives or businesses.
These case studies and testimonials serve as powerful tools for Coca-Cola to demonstrate their expertise, build credibility, and inspire others in the industry.
One of the most important aspects of value-based selling is demonstrating the return on investment (ROI) your customer can expect. Show how your product or service can save them time, money, or resources, and quantify the potential benefits whenever possible.
One notable brand that effectively communicates the benefits of its products to customers, highlighting how they save time, money, and resources, is Amazon.
Through its various services like Amazon Prime, the company emphasizes the convenience of fast and reliable delivery, allowing customers to save time and effort. Moreover, Amazon's competitive pricing and frequent discounts enable customers to save money on their purchases.
Furthermore, the company's commitment to sustainability and initiatives like Amazon Renewed showcase its efforts to conserve resources and promote a more eco-friendly approach to shopping.
Providing a proof of concept or a trial period allows customers to experience the value firsthand. This hands-on approach can help build confidence and demonstrate the positive impact the solution can have on their business.
One example of a real brand that offers a proof of concept or trial period is Peloton. Peloton is a fitness company that sells exercise bikes and treadmills with built-in screens for interactive workouts.
Peloton uses customer engagement to increase sales by offering a 30-day home trial period, allowing customers to try out their equipment and experience the benefits before committing to a purchase.
This trial period gives customers the opportunity to see if the Peloton experience aligns with their fitness goals and preferences, providing proof of concept for the brand's innovative fitness solutions.
Open-ended questions encourage customers to provide detailed responses, allowing you to gain deeper insights into their needs and preferences. By asking questions such as "What are your biggest challenges?" or "How do you envision our product benefiting your business?" You can uncover valuable information and tailor your value proposition accordingly.
One example of a brand that actively asks open-ended questions from their customers is Airbnb. Through their online platform and mobile app, Airbnb encourages users to leave reviews and provide feedback about their experiences with hosts and accommodations.
They ask questions such as "What did you love about your stay?" and "How could your host improve?" This allows Airbnb to gather valuable insights and continuously improve their services based on customer feedback.
Your strategy is everything when it comes to selling. Your potential customers can bring you increased revenue and simplify your sales process. Delivering on your clients' wants and requirements while educating your customers on how to do it is the main goal of value-based sales!
For educating your customers, it's essential to regularly follow up where Zixflow enters the chat. It helps you stay productive with your customers and allows you to automate activities such as follow-up messages and welcome messages.
Moreover, you can use Zixflow's AI icebreaker to generate content and then send regular updates to your customers through email, SMS, or WhatsApp. If you're eager to experience its full potential and witness the remarkable results it can bring, don't hesitate to book a demo with Zixflow. Explore its incredible features and take advantage of its flexible payment options based on your usage.