5 Mission-Critical Requirements to Establish Value & Increase Revenue
Whatever your role is in a business organization, you have a purpose that is to create value. In any way of doing this, value creates revenue for your company, but there is great benefit in going a step further and capturing the value that you create. Here are five requirements for establishing value and increasing revenue.
1. Create Greater Value
Having a good product or service isn’t enough. It’s a good start, but greater value is created by combining your customer’s experience with an excellent product and achieving the desired outcome. Also your selling value cannot only be transnational You’ve got to care about who you’re interacting with. Make it more personal. Don’t resort to emails exclusively, unless you have no other choice. Try to always first have meetings or a phone call.
2. Make it Compelling and Different
The idea here is what makes your value more compelling than any other. Simply creating a common professional ground isn’t enough. Salespeople need to be able to explain why there solution is the best for each specific customer.
3. Focus on Outcomes, not Benefits
There is a difference between benefits and outcomes. Benefits are what a prospect will “get” from the deal and outcomes are exactly how the solution will improve the prospect’s professional situation. You have a greater established value if you keep yourself and your prospect focused on the outcomes.
4. Time and Value.
When it comes to value time is crucial. A careful assessment of the time commitment required from the prospect is very important. Try to see things from your prospect’s point of view. You must understand how your prospect expects the return on investing in your solution.
5. Maximizing Price
It is important to be “Price-confident”. Very often salespeople minimize their price when desperate to make a deal, but price isn’t the deciding factor, value is. If you are confident in your value, the customer will agree to the price that you set but you have to paint the picture and make sure your customers understand exactly how much your solution will benefit their business.