How to Shift From Commodity Sales to Value Selling
Many of our clients face the challenge of being in a market segment where their product or service is considered a commodity. The challenge is that it is usually in a price driven discussion and sales people are often trained to commoditize their sales rather than selling value.
When a company offices a product or service viewed as commodity, they tend to focus on the features only to find out that there is almost always another company that can something similar at a cheaper price which will result in a sales person losing the order.
It’s not about the features of your product or service but the value or ROI. If your sales people focus on value propositions such as peace of mind, long-term cost savings, quality, productivity, faster time to market and reliability then discussions regarding the initial purchase price becomes secondary.
Be proud of your price tag! There is nothing wrong with being more expensive, as long as you are able to understand the real value that your customers are looking for and can communicate it. Own your own price tag. As a matter of fact, I have sold products that were 100% more expensive than the completion because I would say “yes we are more expensive and here is why.”
Eric W. Wiedenmann
Market Development Group, Inc.
Tags: value selling