Every man and his dog talk around selling the ‘value’ of your product and not on price. This is a valid argument because if you have sold your value then price shouldn’t even become an issue. True value is the perception of a prospect, so if you’re hitting all the right buttons and presenting a solution that really solves their problem you shouldn’t have to undercut your competitors on price. The following will help you start selling value rather than price.
“Price is what you pay, value is what you get”.
– Warren Buffet
Build solid relationships with key decision makers
Strong relationships reduce risk and increase trust. People buy from people so the greater the relationship, the lower the perceived risk. Even if your prospect is looking at other products, you will still have the benefit of the doubt. A slightly higher price is worth a lower risk.
Third party recommendations are worth their weight in gold
A testimonial, case study or word of mouth says that someone else has bought your product and means less risk is involved. People are ten times more likely to tell someone else about a poor experience than a good one. Therefore use your positive customer stories to promote the benefits of your product.
Customer trials are always a winner!
This may not apply to everyone but getting your prospect to trial your product is one of the best ways of making a sale. For example Adobe give you a 30-day free trial of their graphics software. Then after you get used to it, you don’t want to give it up. Adobe has a great conversion rate using this method.
Listen to your prospects pain points
At the end of the day, the reason a prospect is looking to buy your product is because it solves their problem. By understanding their business, you can pitch your product at the right level and talk around the problems you’ll solve.
Add additional value with offers
Work with your company to create offers that add additional value to your product to make you stand out from the crowd. Think around free trials, money-back guarantees, delayed billing, warranties, free support etc. All of these reduce your prospect’s perception of risk. The winners in today’s selling arena are the low risk providers, not the low price people.
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