Value lies at the core of every transaction and sale.
Businesses go to market armed with value propositions.
Sales methodologies, designed well, challenge sales teams to discover value.
High achievers, performing well, demonstrate, add and present value.
Buyers place a value or worth on every transaction or purchase.
Yet ask a room full of sales professionals to define the word ‘value’ and you may be surprised by the vast array and even quality of answers.
One reason being that value is a perception by an individual.
Value is also based on perspective through 2 filters to varying degrees.
- Logical Value: Demonstrable ROI in the exchange of money for goods or services
- Emotional Value: The feel good factor, the individual value placed on specific goods or services
If you ever want to hammer this point home put a picture of a suit, a purse and a car up as a visual then ask multiple people the amount of money individually they’d be willing would be willing to invest in each. The range, like the perception or the answers to the definition itself, will also likely be great and varied. This is value perception evidenced in seconds. Whilst some value clothes over cars, function over appearance, both levers of logical and emotional value are at play.
Our core IP programs including:
- ROCKET (Sales Methodology)
- Orbit (Account Management Principles)
- WOW Factor (Customer Experience & Engagement Model)
share tangible tools and practical methods of ensuring value perception is not only acknowledged but also increased. Sometimes where there was none before or even out of thin air.
Ultimately value is intrinsically linked to the idea of compelling events and economic owners in business:
- A compelling event has an economic owner, a defined date and is a direct response to a business pressure.
- The action is expected to deliver a significant business result
(either improving an opportunity/capability or reducing pain)
- The compelling event defines the reason for the economic owner to act
- The compelling event is defined, underpinned and evidenced by quantifiable metrics associated with value.
‘You don’t need a big close, as many sales reps believe. You risk losing your customer when you save all the good stuff for the end. Keep the customer actively involved throughout your presentation, and watch your results improve.’