Value Based Conversations: What is Value-Based Selling?

Value based conversations should ultimately be a part of every sales strategy. The aim of any sales professional is to convert leads into customers, and often the best way to do this is by highlighting the value your specific solution has to offer.

Through “value conversations”, selling experts can use their knowledge of their lead, an understanding of their solution, and various techniques to improve their chances of a successful sale.

What are Valued Based Conversations?

Value based conversations are an aspect of “value based selling”. Essentially, this is a kind of sales approach focused on addressing the benefits of the solution to the customer throughout the sales process. Sales reps take a consultative approach in most cases, collecting information about the client, and making suggestions according to the value certain solutions can provide.

The goal of value conversations is to always put the needs of the customer first. In value based selling, salespeople demonstrate a deep knowledge of the client’s needs, pain points, and expectations, before providing them with guidance to help them make an “informed decision” about what to purchase, based on their needs.

Many prospects are frequently bombarded with messages pressuring them to make a purchase, but value-based sales attempts to demonstrate how much you care about your customer.

Tips for Value Based Sales

Value based conversations, and value based selling, can be an excellent way for companies to set themselves apart from the competition, by putting the needs of prospects first. While there’s no one-size-fits-all approach to successful value-based selling, some common principles include:

1. Do your Research

The primary goal of value-based selling is to close the sale by putting the needs of the prospect first. However, you can only do this if you know what your customer needs to begin with. Doing your homework prior to the sales call is essential, as it will help you to collect information which shows your client how well you understand them.

2. Take your Time

As tempting as it may be to jump into the sales pitch straight away, you’ll need to avoid trying to sell anything too early. In value-based selling, it’s important to build a sense of rapport with your customer. Give them time to explain their current situation and use what you learn to gain their trust. After that, you can use all the information you have available to explain how you can best provide value to your lead.

3. Communicate how you can provide value

Once you’ve learned as much as you can about your customer, you can start to explain how your product or service deliver genuine value. Try to adjust the sales pitch based on what you know about the lead’s current goals or pain points. If your prospect is struggling with productivity, what can your service do to make them more efficient? What kind of evidence can you provide to demonstrate how effective your solution is?

4. Focus on teaching

One of the best ways to embrace the benefits of the value based sales approach, is to switch a focus on selling to a focus on teaching. When you take an education-first approach, you position yourself as a resource for valuable information, which also helps to establish you as a possible solution to your leads’ problem.

For instance, if you’re working in software sales, rather than simply offering a sales pitch to your customer, ask them what their challenges are, and discuss some ways you’ve seen other customers solve those problems.

5. Provide guidance

When taking a value-based approach to sales, your role as a sales professional should be the “informed consultant” helping your prospect make the most confident purchasing decision possible. Share fresh strategies and ideas which help your prospect to feel they’re making the decision themselves to buy your solution.

When providing guidance, make sure you use examples and data to back yourself up. Discussing real-life scenarios can make you seem more credible to your target audience.

6. Maintain a personable approach

Value-based conversations are more likely natural discussions between friends than traditional sales pitches. Taking on a personable approach and demonstrating a genuine interest in your customer will make you seem more authentic and trustworthy.

Ask open-ended questions to get to know your lead and learn how to master the art of small talk when you’re engaging in discussions. Don’t speak as if you’re talking to just another number on a list of people you need to call.

7. Make every interaction valuable

Finally, a value based conversation isn’t just a one-and-done event. If you’re going to be embracing the power of value-based sales, then you need to be looking for ways to add value to every conversation you have with your lead. This strategy ensures you can gradually build your credibility with customers, and develop an effective relationship over time.