value selling approach
We did discuss the sure-fire habits in our last blog, and for those who have not read, please click here https://www.digikabali.com/?p=455&preview=true.
Today we will be discussing a new sure-fire habit for star sales managers.
Value selling approach – concept
The value selling approach is the preferred method for any salesperson as it involves No price quoting initially.
So what is the value selling approach?
Customer buys product always and most of the time they don’t look at the product’s value. So it is always a salesman job to bring in the value the customer will derive from this product rather than focus on its features.
When you don’t sell value, customers end up the discussions with the product and its Price.
Price is different from value. I think you agree with this. A product purchased from the branded store with a full-service backup has more value than what you buy without knowing the value.
Value selling approach -Importance
There is something called the perceived value of the product. In addition to whatever you are selling, there is something called perceived value, which gives you an advantage on the Price. You may get more Price for the product, or there is every chance the customer will not sit tight on negotiations proffers or any compulsory discounts.
For this, the customer has to understand that he is buying worth the value. So always talk about the valued customer derived from this product, in case he decides to buy from you.
Value selling approach -In real estate products
It is essential specifically in the Real estate; as we all know, real estate is a one-time investment, and it is a long term investment.
Unlike other white goods, what is the value he will derive from this purchase, say after ten years, is very important? But unfortunately, not many customers agree or understand this.
It becomes a key parameter in deciding his property. Seldom this is taken seriously, and customers always look for the Price.
A Star sales associate or Star sales manager should trigger this question to the customer to check if the customer is towards your value approach.
A good quality Real estate product will be at least 20 to 30% more value when you look at the future owing to several intrinsic reasons like
- Good construction
- reputed brand
- No maintenance issues
- clear legal title
- more happy customers etc
But Do the salesperson explains these attributes have value, and notionally, How much value you can attach it? Is this demonstrated to the customer or explained to him.
There are so many apartments without naming that faced severe problems during floods, just because the construction did not consider the Minimum flood level in the design aspects. So is it not a value.
Is National building standard codes are followed in the project? Terms of specs? Does vale appraisal conders this aspect?
These are few examples – But you may discover such insights and value points in your specific projects. Think and list them before you engage yourself in the discussions. Then, keep this handy for your discussions to impress the prospect.
We can use these few simple examples when sitting across the table with the customer.
Getting straight into product and Price will only land you in trouble.
Especially when the product is Pricy, you will find it a challenge to sell
So always talk about values and benefits, build the customer’s perceived value, and then inform him of the Price.
You will find a load off when it comes to negotiation, as the customer would have understood the product perceived value is good.
value selling approach
It takes you to an advantageous position in selling and sealing the deal.
So stay tuned for the following sure-fire habits in the next blog.