We hear it all the time, “You have to build value.” Ok, I get that…but how?
Most people think that building value is dependent upon statements the salesperson makes. Strategic word tracks and value-based concepts are important coming from the seller, but what if we could get these value building ideas coming from the buyer?
Here are 3 Simple Steps for Building Value:
1. Uncover Needs
The first step to building value comes by understanding what your prospect wants and needs. I normally focus on three main areas:
- Current Process: "Tell me how you currently handle…"
- Frustrations: "What are the biggest challenges with the current process?"
- Wish List: "If you could make it better…" and "How do you want it to work moving forward?"
Take your time going through each of these areas. Probe deeper with comments and questions like, “Tell me more about…”, “What happens after you…” and “How does that affect...” Get as much information as possible to carry into the next step: solutions.
2. Match Solutions
This is where product knowledge really comes in handy. The more you know and understand about the way your product/service offering works, the more effective you will be in providing targeted solutions that match your prospect’s needs.
I’ve put together a quick list of three creative techniques for recommending solutions:
- Quick Fix: Some of your prospects' issues will be easy to overcome. Share your solution as simply and efficiently as possible. Ex: “We can do it this way… and that will help you overcome (state their issue)."
- Preference: Buyers like to have options. You might say, “There are a couple of options here.” Explain (Option 1) and (Option 2). Then ask them, “Which option sounds better to you?” These become mini-buying decisions. It’s a powerful way to engage the prospect and move them forward through the decision-making process!
- Success Story: When you get the opportunity to share a success story, jump on it! There’s nothing better than sharing a story that specifically relates to the prospect's current situation. Build your stories around three main points. Explain the situation, share how you effectively provided a solution, and close with the details that made it a success!
3. Probe for Value
This step is an immediate “piggy back” off of the Match Solutions step. It is the core technique for having the prospect create their own value statements.
Here’s the key: as soon as you provide the solution, you immediately follow-up with a question. I’ll share examples for each with the “Probe for Value” question in bold. Notice there are three examples below. They are in the same order outlined in Step 2.
- Once you provide the “Quick Fix” recommendation, you immediately ask, “What do you think about doing it that way?” The prospect will either like it or they won’t. If they like it, they will share their “value-based” reasons for why they think it will work. If they don’t like it, you will uncover a hidden objection. You are in the perfect position to work with the prospect to find a different solution!
- Let’s look at another example. You’ve given the prospect options and they’ve stated their preference. You instantly probe for value with, “What do you like most about that option?” Again, the prospect shares reasons why they prefer that option, and you have them verbalizing the specifics of what they value most!
- In the final example, you have shared a success story. Follow up that story with, “Have you ever been involved in that type of situation?” The prospect will respond with a story of their own or share how impressed they are with the story.
There you have it, 3 Simple Steps for Building Value! Remember: the strongest value based statements come from the buyer, not the seller.
Share your skills: What techniques are you using to build value? Please let us know in the comments!