People Shop Price. They Buy Value
Frustrated sales clerk: "I am unable to sell our products because our prices are higher than the competition.
Successful Sales Professional: Stop selling products and start selling VALUE"
Unless you have a completely unique product to sell chances are you are selling the same products as your competition.
OH, your product may be made better, may last longer, and may do a better job for the customer, but to the customer it is still the same product.
Most customers think a hammer is a hammer, no matter how much better one is constructed than the other.
But that is OK, because your customers do not really buy products (hammers). They buy the results the product (hammer) will give them. And if your results, THE VALUE are of more worth to them than the competitions value, you can easily receive a higher price for it.
It is great to sell VALUE because you have two different groups of value to sell.
One- the value of your product
Two- your value. Your uniqueness.. USP's - Unique Selling Propositions -- What is unique about you that is not unique about your competition?
To determine your products value or uniqueness do this exercise.
On a piece of paper write down the products features on the left side. The product and the components it is made up of.
On the right side across from each feature write the benefit the customer receives from the feature.
The Benefit is the VALUE.
It is easy to determine the benefit values of your products. And a lot of sellers are doing it. But the top sales producers go one more step.
They determine their Unique selling Propositions (USP's).
To determine your USP's make a list (a long list) of all the things you do for your customers. Then go back and cross off the ones that are not unique, the ones your competition is also doing. You end up with a list of your USP's. Now you have something to talk about the competition can not talk about.
Here are four ways to turn your intangible VALUES (benefits) into a dollar value your customers will buy.
Put a DOLLAR VALUE on your benefits and USP's:
1.Give the customer examples of how others have suffered money loss when not using your benefit (horror stories).
2.Show the customer testimonials showing the dollar value others put on your intangibles.
3.Ask the customer what he/she feels the dollar value of your benefit is.
4.Tell the customer the dollar value of your benefit.
(After all you are the Expert)
Putting a dollar value on your benefits and USP's work because your customers are always thinking in dollars. They are thinking
"What will it cost me?" "How much can I save?"
You are far ahead of the competition when you can show the customer real dollar VALUE they receive when buying from you.
About the Author
Bob Janet uses 40 plus years of face-to-face selling and marketing experiences, combined with his unique fun-entertaining presentation audience involved style to help sellers gain and retain their most profitable customers. See all Bob's sales growth programs at http://www.BobJanet.com