When speaking to customer facing staff, an often heard issue is that customers fail to reach a decision to purchase. Whilst a customer both needs and likes the product or service on offer they simply fail to reach a final decision to buy.
Many assume that it is because the sales person has failed to "ask for the business" however, often there is a deeper issue at play an issue that should be addressed prior to the expected time of purchase.
There are those that simply fail to understand exactly what the customer needs, whilst others go through a thorough exploratory phase with the customer understanding both the customer and personal drivers.
However, when it comes to presenting a solution to address these requirements - the conversations often centre only on the 'benefits' that will be delivered through that "solution".
The high performing sales people, however, understand that identifying of the true "value" to the customer will expedite a favourable decision.
So what do we mean by "Customer Value"?
Customer Value is the 'benefits' to be derived from your products / services less the 'costs' of taking on those products / services. (Value = Benefits - Cost)
The 'cost' of doing business is often more than simply the 'price' quoted. For example, investment in a new product or service may:
If these 'costs' are not addressed in the sales process you can be assured that they will often be discussed by the internal stakeholders 'behind closed doors'.
The high performers realise this, address these costs and clearly articulate how the solution they offer delivers true Value to their customer.
Tips from John Buchanan, Beyond 19, Coaching Practicing Lead:
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