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Value-Based Selling

What Is Value-Based Selling?

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Have you ever heard the saying, “You get what you pay for”? If so, you probably don’t understand how true it is. However, if you want to get the most out of your customers’ money, you need to understand value-based selling.

 

To succeed in business today, you need to provide a tangible and measurable return on your investment. Once your company determines the value you create and the value you provide to customers and clients, it needs to lead with value-based selling.

 

Value-based selling is an approach to selling where you do everything you can to sell the product rather than the price. The idea is that in today’s market, shoppers are looking for value in everything they buy. If you provide that value, then you’ll sell more.

 

Value-based selling is a fairly new concept that holds great potential to integrate sales and marketing. 

Value is something that every business provides to its customers. In this article, you’ll discover how to create a trusted brand that provides value and earns repeat business.

What Is Value-Based Selling?

Strategy

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Value-based selling is a selling and marketing model that considers the customer’s subjective and objective needs and combines these with the value that the customer gets from purchasing the product.

 

It’s a philosophy that looks at the strategic relationships between a business and its customers, with customers frequently regarded as stakeholders in its success. 

 

It identifies companies with a customer-centric culture based on sharing value and creating value with customers. Value-based selling seeks to optimise the value a company creates for its customers.

 

Value-based selling has been creeping into the world of marketing. Rather than choosing the product based on its high price tag, companies are slowly starting to recognise that value can be created if their merchandise solves a problem for the customer.

 

This new way of selling means business needs to focus on creating products that have actual value, not just ones with a high price tag.

What Are The Benefits Of Value-Based Selling?

Benefits

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Value is the basic building block of business. Without value, businesses simply cannot achieve success or grow. Value-based selling lays out a compelling case for why your prospects need value, how they value it, and what your value is.

 

Value-based selling helps your organisation create relationships that could result in greater sales, greater customer insight and higher employee retention. 

 

Value-based selling can help you close more sales and better serve your clients. It’s a strategy that focuses on driving more value from the client, optimising the communication process between the buyer and the seller, and is a powerful way to become more profitable.

 

Value-based selling is a great philosophy that will do wonders for your business. It will revolutionise your business and help you create a more enjoyable work environment for your employees.

How Can I Incorporate Value-Based Selling Into My Company?

Value-based selling is popping up everywhere in B2B professionals’ lives. But what do the benefits of using value-based selling really mean for your business?

 

If you’re selling a product or service that requires a customer to spend money on it, then you’re selling a product or service that has value. To sell this product, you must first determine what value your customers see in your product or service to sell this product.

 

Does this product solve a problem for them? How does it make their lives easier? How does your product help create a return on their investment?

 

Once you’ve found the answers to these questions, you can start creating value for potential customers. 

 

It’s time to switch the traditional approach of showing the benefits of your product and services by showing how much your customers appreciate them. Including testimonials featuring customers who have used your product or service is one way to do that. 

 

Value-based selling encourages businesses to focus on customer service and the benefits that they provide to their customers.

 

You’ll learn that many companies have forgotten what value creation is all about! After reading this article, you’ll never look at value creation the same way again!

About the Author

Kemi Olaoshun is a content writer who dabbles in SEO and digital marketing. She considers herself  “a Jackie of all trades” and has her fingers in too many pies.