Getting your fair share of price in the marketplace is dependent on your sales team’s ability to sell your value. The stronger case made for your value directly translates into the price you capture from your customers. Is your sales team selling your value and capturing the best price? Or, worse yet, are you losing sales due to a weak value message?
Value is an often misused term that conjures up images of low quality and low price. Not so in B2B markets. Value refers to the underlying economics that support the purchase of an item or service. It defines the benefits of the offer that help increase sales, reduce costs, reduce risk or improve competitive advantage for the user. Presenting an economic case is a powerful approach to drive value perceptions and willingness to pay more.
Here are three critical elements that every sales team member must embrace in order to effectively communicate value and defend their prices.