Traditional marketing wisdom tells us that building customer relationships begins with the sales process. Every product, company and industry has its own unique journey, and it’s our job as B2B solution providers to establish trust, credibility and value every step of the way.
Breaking through the obstacles in today’s buying processes is best achieved through value selling. Many sales teams now sell to diverse committees, often with stringent corporate oversight. And they are challenged to break through the noise as buyers conduct their own research before contacting vendors. To close more deals and build profitable, long term relationships, embrace a smarter value selling process and a change in perspective from vendor to business partner.
Know Your Prospect
Value selling quantifies the benefits of your solution, and is most effective when those benefits speak directly to diverse buyer concerns. Whether it’s improving productivity or increasing sales, committee members have individual agendas and requirements. Learn what’s important to each stakeholder and address those issues head-on in your sales pitch and value proposition.
Value and assessment tools are often used during the “silent” part of the sales process to understand the financial benefits of your product. As buyers explore your website, these tools offer a compelling reason to share information about their company and what’s driving their purchase decision. Sales and marketing can then use these insights to create a solid business case that clarifies value to each stakeholder.
Become a Valued Partner
The hallmarks of a successful business partnership are collaboration, mutual assistance and a shared interest in the outcome of your efforts. Customers and prospects will be able to tell whether you’re a trusted partner or a less-invested vendor by your behaviors and attitude. Take these steps to reshape your business relationships and gain a clear advantage over your competition.
1. Change Your Perspective
A vendor sells products and focuses on the sale. A business partner seeks to enable better business performance. Which one are you?
Changing your perspective makes it possible to earn the loyalty and confidence of your prospects. Reinforce that trust by helping them break through roadblocks and meet strategic goals using your product. Share your expertise freely and help transform “possibilities” into practical, proven solutions. By earning their confidence early in the sales process, you create a supportive foundation that will generate customer revenue in the short and long term.
2. Talk Less, Listen More
When we allow our prospects and perhaps our competitors to speak freely, we easily acquire the insights and information we need to meet our objectives and theirs. In a sales environment, this means asking more questions about your prospect, individually and organizationally. Be sure you understand their needs and goals before talking about your solution.
Once you do, demonstrate how your product or service alleviates their pain points and provides benefits across the business. Discuss those benefits in terms of reducing costs and increasing revenue, and then quantify them using ROI tools and value calculators.
3. Solve Real Problems
It takes more than a good price to persuade prospects that yours is the best solution. Its true value is how well it addresses a prospect’s most pressing business issues. Demonstrate your understanding of their environment by showing how your product will positively affect their day-to-day activities and long term goals.
It’s also important to be forthright about how far your solution goes in meeting the organization’s overall needs. This is especially true if it is one of several complementary and strategically selected solutions. A true business partner appreciates the bigger picture and readily shares ideas for solving complex issues. And as a basic tenet of value selling, you can cultivate trust by quantifying how and where your solution provides direct and indirect financial value.
Are you prepared to shift your perspective and become a valued business partner that seeks the best possible solutions for customers and prospects? Earning their trust has immediate and long term benefits, and opens the door to repeat sales and greater lifetime customer value. Focus your value selling and ongoing support processes on satisfaction and you will establish mutually beneficial relationships that benefit all parties.
