We often hear about “value” in sales and marketing. Terms like “value add” or “value sell” is commonly used when trying to get a deal, but will the client see it as a value? Is it just a discount, is it something that will cost you money, or is it something that will improve the client’s life or business?
Stop thinking of value in terms of cost, such as value for the price, and look at it in terms of what the client will view as a benefit.
Approach the offering from the client’s perspective. Is the offer so valuable to the client that cost isn’t a consideration?
I worked with an equipment dealership that always tried to get their customers free shipping on parts, believing if they minimized costs, their customers would be happy.
However, customers were not always happy. Those customers would go to a different dealer to get the parts when they needed them, ASAP. Often, one part could mean the difference of 10s of thousands of dollars in lost revenue.
The value of free shipping didn’t matter to the client. The client valued the revenue the part would bring in to their operation.
The perceived value of the offering comes from providing what the customer values most. Value in the eyes of the client isn’t always in direct correlation to the cost.
Ask your clients what will be a value to them. Find out what they would want, rather than provide what you think would be the best value and miss the mark.
The dealership started asking better questions about the needs of their clients and became the parts dealer that their clients needed. They made sure to provide the value the customer asked for, rather than what the dealership thought they wanted.
Has a company that you’ve dealt with ever missed the mark on delivering by not truly understanding what you valued?
It can be easy to assume you know how to provide the best value to your client after you have worked tirelessly to ensure you have a solid offering. However, if you are unsure if your organization is delivering the best-perceived value, Glover Strategic Marketing can help. Glover Strategic Marketing works with companies to develop the plan to transform their client’s experience throughout the entire buying cycle (marketing, sales, customer service, after-sales support, etc.), resulting in more loyal lifetime clients in their targeted markets.
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