Which is more important to a customer price or value? I asked myself this question while I was shopping for an Xbox for my kids. I stumbled across one at a chain store. The price was more than most of its competitors. I bought it. Why?
As a buyer, price is indeed important, but it’s not everything – I value “value” too. The value to me was great customer service. I was able to get my questions answered quickly and easily. This particular Xbox came with all the features I wanted (controllers, Kinnect…etc), plus two additional games. I also got to take it home right away – convenient.
Everyone wants to get a good price – some at the detriment of value. As sales professionals, we need to remind folks of the value of our products and services.
It is our job as sales people to make the connection. The connection is the bridge from price to value. By bringing value into the equation we can show why a particular price point makes sense, or side step it altogether.
So how do we build value?
There are a number of sales tips in this area, but the best way to show value is to understand your customer and how they plan on using your product or service. Tell a story. Show them by example how your product or service will help them. Then, attach a price to that value statement.
Tying value and price together will help you close more sales, at a higher selling price, to more satisfied customers.
What do you think? Tell us your sales tips!