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Value & Price

Value & Price

Reading time: 1 - 2 minutes

Value and Price. 2 terms that go together for any business.

But I think in business too many sales are attempted with a price focus rather than a value one.

A prospective customer or client isn’t necessarily going to come out in the conversation and tell you what value they ascribe to the purchase. So you think it’s all about price, and go about telling them what it does and how good it is.

The conversation however needs to go along the asking the right questions to uncover the value. And this conversation isn’t about convincing a prospect of the value but rather uncovering the value TO THEM. Really getting to know what’s going on.

Think about when you’re making a buying decision, be it personal or business related. You don’t want the conversation to be one where you feel you’re being sold to.
But when the conversation is asking questions and personalising it to you the customer, you and the customer become more engaged.

I think there’s 3 important sets of questions (note that it’s not just these questions) to focus on;

  1. Why this - what will it solve or do for them; what problems are being experienced; what would make this purchase a success
  2. Why now – what’s the urgency of the purchase; has it been delayed or brought forward
  3. Why me or my business – what led the purchaser here; were there particular questions asked around why I or my business he could be of assistance; was there a referral or marketing influence

Once the value to the purchaser is uncovered the sale will take care of itself.

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