How Much is Your Solution Worth?
Sales reps want to sell value, but customers want to buy on price. How do you shift the conversation away from price and back to value? The easiest way is to find multiple areas where buying from you will have a positive impact on their bottom line. Ideally, you can show that the price being asked is dwarfed by the massive financial value that will result from the purchase.
There are at least six ways to do this:
- Revenue improvements. How much more of your customer's own product will your customer sell, if they buy your solution?
- Quality improvements. How much money will your customer save in eliminated reworks, scrap, overtime, etc., if they buy your solution?
- Delivery improvements. How much money will your customer save in expediting costs, airfreight charges, etc., if they buy your solution?
- Cost reductions. How much money will your customer save in labor costs, overhead, etc., if they buy your solution?
- Risk reductions. How much money will your customer save in eliminated penalties and litigation if they buy your solutiont?
- Recruitment and Retention. How much money will your customer save in terms of hiring expenses, relocation, retraining, etc., if they buy your solution?
READERS: Are there some financial "hooks" missing from the list above?