How to Sell on Value… Rather Than Price

Khayam Husain

Presents

First Key to capitalize

Leverage On The Experience

An ordinary Sales Director of a company says:

“We try to sell it…”

An exceptional Sales Director of a company says:

“Hey! we've been there, done that. Let's look at our product development over the years; we're going to give you a little peek at the future from our

experience."

Leverage On The Experience

Share the history of AUTOCOM with prospects it helps to build confidence in the product.

Build up your success stories by documenting testimonials and showing them off to future opportunities.

Founded: 1968 – as a

Fiat car Workshop

1972: Introduced

Semi-trailers in Pakistan

1975:Autocom

was established

1980s: Pioneered

Construction of fuel Tankers in Pakistan as

per UN-ADR

International standards

2000s: Introduced Aluminum Tankers to Pakistan

Today: Leaders in providing Transport Solutions

in the Road

Freight Industry

LEVERAGE ON THE EXPERIENCE

https://books.google.com.pk/books?id=rgpbOFMQM-kC&pg=PA223&lpg=PA223&dq=how+coca+cola+capitalize+on+experience&source=bl&ots=NJRI8vK-3m&sig=wqsuTNDdmFPmxFpoIKpAWbIX2V4&hl=en&sa=X&ei=0fWHVNzROYfiaq_9gPAC&ved=0CDkQ6AEwAzgK#v=onepage&q&f=false

Motivation of Target Customer

Motivation of Target Customer

Researching the potential client to see if they are a good candidate to meet your price needs. This saves you from wasting time talking to people who only want the cheapest deal. The right customers will be receptive to hearing why they should pay more for a certain product over another.

KNOW THAT CONFIDENCE IS THE KEY State your price without hesitation and without getting

defensive. Remember that "Value is always long term while price is short term.”

When you're highlighting the value of the product over cheaper competitors, you shouldn't go back and forth on price or negotiating. Avoid words and phrases that suggest flexibility, things like saying "generally, we charge" or "your price.“ Don’t apologize for your price.

KNOW THAT CONFIDENCE IS THE KEY

Do mention the advantages you bring to market: global sourcing, warranty and after sales service, technical collaboration and other things that go beyond the features of our competitors.

You can be confident without dragging your competitors through the dirt. Highlight why your product's value is worth their consideration over lower-price options.

CUSTOMER SERVICE AND “THANK YOU!”

The toughest job selling value to customers is getting them to picture the full depth and breadth of the AUTOCOM experience. Customers remember unusual things about service. One Director I know sends handwritten “thank you” cards and notes to his clients. Since these are rare, customers remember her for that.

Often the customers who are obsessed with finding the lowest price turn into the biggest headaches. But the customers that see your value understand you'll be there to provide customer service. Make sure to keep providing good service throughout the lifespan of the customer, which will let you pile up those customer testimonials you can use to show future clients why you provide the right value.

UNDERSTAND THE PSYCHOLOGY OF CUSTOMERS’ EGO

Taj Afridi, Rao Omair, Shawwal etc are all in an elite group. Not everyone understands value. However, they have made their choice over and over and over again! Do you have the courage to stand out? This could be one way to shake that ego for an undecided buyer. People want to buy expensive products for several reasons. It makes them feel exclusive, it increases their feelings of self-worth, and they may do it to stand out from or be equal to their peer group.

All of these reasons satisfy your customers’ ego and make them feel better or more important, richer or more powerful. When you are delivering your sales pitch, you want to be conscious about the aspects of your customers’ ego that can you appeal to.

What drives the buying decision?

What drives the buying decision?

model of customers The Advocates – customers with a strong usage habit AND

who recommend the brand highly Habituals – customers with a strong usage habit BUT who

are less likely to recommend it Aspirants – customers with a weaker usage habit BUT who

are likely to recommend it (often the case for successful new brands)

Switchers – where neither strong habits nor positive attitudes exists.

model of customers http://smallbusiness.chron.com/five-types-customer-

segmentation-10566.html http://

sbinfocanada.about.com/od/customerservice/a/customertypesmh.htm

file:///C:/Users/Uzma%20Shakeel/Downloads/How_to_match_the_right_type_of_salesperson_to_your_customers.pdf

What drives the buying decision?

Emotional vs. Rational NeedsRational Needs

The customer wants the product to be provided to meet a need they have. They have a requirement. That is why they are here. Will the product/service do what I need it to do? When do I get the product/service? How will it occur? What steps? What will it cost? How can I pay? Warranty? Back up support? Quality? Product life? Emotional Needs Will you treat and regard me in the right way? Do I trust you? Will you give me genuine advice? Will you deliver on your promises? Am I getting the best value? Should I shop around?

Why Customers Show Price Resistance Resistance to purchase is not necessarily always a bad thing. It is an

opportunity to help customer by providing more information – and persuading them of the benefits of our product. Price resistance is sometimes a point of discussion with customers and needs to be managed correctly

Manage Resistance Anticipate resistance and see it as the customer needing more information

before making a decision. Approach customer resistance with a positive attitude. Avoid becoming

angry or upset. Be “tactful” when handling resistance. Try to prepare for possible resistance early in the discussions with

customers. Take time out to prepare a response if needed. Be aware of hidden objections.

Identifying buying motive - Ask your customer: ‘What is important for you?’ ‘How significant is this for you?’ ‘What do you value most?’ ‘What is of paramount importance for you in this case?’

The Business Case for Selling Genuine Value

Increased competition has put pressure on margins in new truck and trailer sales. Increasingly, we have to look for innovation and value addition to make a significant contribution to profitability – and to continued success.

Customers expect a high level of reliability from their vehicles – and expect higher standards of product support and responsiveness to their needs. Customers have options and will go where they feel these expectations are being met.

Our Production and Engineering Department employ the most people, occupy the most space and have the highest investment in tools and equipment, therefore ensuring an efficient, customer-focused operation is essential.

Measuring Sales Success How is Performance Measured?

How can YOU influence Success?

Key Performance Indicators

Key Performance Indicators (KPI) are financial and non-financial metrics used by a business to define and measure progress towards identified goals. A KPI should form a key part of any measurable objective.

What KPIs are being measured in your Department? How do YOU influence success?

KPIs and MetricsNo. Objectives KPI Weight Target

1 Achieve Sales Revenue of Rs. 900 Million in 2013-14 Sales Revenue

20 900 Million

2 Prepare a marketing plan with product wise / customer wise strategyMarketing Strategy

15 From October, 2013

3 Submit a report on competitors analysisCompetitor Analysis

10 Quarterly

4 Submit a Market report on industry trends / analysis on annually basisMarket Report

10 From June 2013

5 Recruit office manager / regional manager for North New Marketing Resource

10 Oct. / Nov. 2013

6 Enhance brand awareness of ACP by end of yearBrand Awareness

10 2 Seminars

7 BTL activities to enhance the brand awareness and customer baseCustomer Database

10 2 to 3 Activities

8 Development and distribution of CalendarsPromotional Activity

7.5 Dec. 10, 2013

9 Database for Eid / New Year gifts / cards by October 2013Customer Database

7.5 October, 2013

100