The meaning of sales value can vary from one organization to the next and indeed differ from one sales rep to another. However the key is how the customer perceives the value. Organizations like coaches can call plays, but it doesn't mean it will work out. Is the customer truly getting the value the way the organization promised? Sales managers need to encourage their reps to follow through upon implementation.
They need to ask the right questions and build solid relationships with their clients. Far too many organizations focus too much on customer acquisition before ensuring they are taking care of the clients they already have. Getting feedback from existing clients can lead to new and innovative solutions that can propel your organization to greater heights. There can be no better target market than providing more solutions and offerings to existing clients.
In interviewing over 1000 reps over a two-year period, only 44% could effectively articulate the value proposition that won their last sale beyond price. Also only 46% could state at least one competitive feature they were positive their competitors didn't have. Sales reps are walking away from countless opportunities to maximize revenue within their own account base; it's no surprise if they find it difficult to acquire new accounts as well. Establishing value up front precisely and concisely speeds up the sales cycle significantly. Sales reps need to know what their solution can do versus the competitors. They must know what pains can be solved. They need to present themselves as experts in their field. They should research the client's industry and provide insight on developing market trends. The best way to build trust and develop strong lasting relationships with clients is value.
Nowadays a value proposition has to go beyond the company's marketing materials of features and competitive advantages. It should also include customer focused measurable statements of outcome. The sales rep needs to stay engaged in the process after the sale. Sales reps need to act like foot soldiers in the field of battle and report back pertinent information to the generals. Sales managers should encourage valuable feedback. The best sales reps do whatever it takes to satisfy their existing clients.
They serve as a valuable resource to the client not only on a professional level, but perhaps personal too. The best reps become someone they can trust to engage with their senior level staff. The clients are also likely to rave about them to their network. Referrals pour in and before you know it, their phone is ringing off the hook while the other reps stare in amazement. For this to happen, an important step would be to discover what value truly means to the client and tailor a measurable solution to deliver above expectations.
Henry Okwo is the Founder and CEO of SalesGymUSA, a Targeted Sales Training company. Henry is a graduate of University of California, Berkeley where he was a 2-time National Champion. He has over 15 years sales and management experience and has developed a specialized sales training program based on sports performance development to boost sales. Find out more targeted sales strategies to increase your sales results at www.salesgymusa.com Henry also conducts a daily mental workout on his blog, www.salesgymusa.com/blog