Sales professionals know that demonstrating value is important to having any shot at winning a deal. Research shows that by using a three-step process, one could show value to a prospect in a way that is most likely to solidify the need for what is being offered.
Knowing what value means to your prospect
Too often, sales people use the same pitch about the benefits of the service or product that they are offering. But this is looking at value from the wrong perspective. Instead, the sales person must understand the underlying issues the prospect is facing, and then look at how the solution can plug in to address some of these problems. As the product or service offering becomes more complex, the value it is offering to the prospect gets harder to define without a deep understanding of the prospect’s challenges.
Ensuring the proper use of qualifiying questions
Asking intelligent questions demonstrates sales expertise and builds trust by suggesting that you have valuable insight. Questions such as, “when will the new process in that department begin affecting you?” and “how has this new competitor personally impacted morale in your team?” help dive deeper and understand the full scope of the sales opportunity. Additionally, they show the prospect that you understand the issues in play and how they personally relate to each individual. Remember, that you clearly offer value when you make the prospect’s work life a little easier and give them some psychological relief from their biggest pain points.
Helping the prospect identify key performance indicators
Success can be defined in many ways. If you focus the prospect on how to measure the right stuff, you win on two levels. First, you have shown value by helping the prospect to narrow down their focus from a wide universe of possible metrics. That’s work they don’t have to do. Secondly, and perhaps more importantly, you’ve put the prospect on a path to judge success based on the factors you find to be most important.