Selling the Real Product Value to the German Marketplace
In many instances, German salesmen are selling the value of a product in order to sell the solution to clients. Yet, there are many things missed; For example, what is the real value of the product? How do you convince your client that your solution will guide them to business success?
The basic idea that guides us all is to combine the overall business value in different terms that draws a solution tailored to the client. Therefore, a salesperson that is in a meeting with a potential client must be careful and conclude the full scope of the solution’s value to ensure the sale doesn’t fall through the gaps.
The full value of the solution should be converted into a chart as part of the selling strategy. Here at Auren Israel, it is an integral part of the VSO sales method to take care and combine the overall value of the product’s solution to present the core reason for the client to spend. This is especially the case when teaching the concept.
In my experience, when a salesman does not combine and present the exact value, the situation becomes problematic and the salesman’s credibility is on the line.
If so, a question arises; How could the salesman promote a product’s solution in a way that will create a hard transaction with the client?
The solution for real product value Include the all three levels of the sale’s strategy:
- Solution Level- This part is the most tangible, as it can provide hard evidence stemming from questions such as: How much time it will save? Clear and measurable solutions can be demonstrated in terms of time and money, which is a tactic most salesmen should be familiar with.
- The Management Method- All good business activity consists of the various business strategies that managers generate on a daily basis. And, in terms of selling a product, it should demonstrate how it can be a solution that will help managers and employees do their job more effectively and efficiently. The role of the salesman is to understand the current situation of the client and show a solution that will help the manager in his work, by improving business processes and strategies. Additionally, all business methods have further influence that can be quantified. Conversion of these terms into financial expressions will allow the client to understand exactly how the solution will help rather than taking information at face value.
- The Solution Impact on the Bottom Line- Most salesmen are not familiar with the client’s professional world, their customers or their customers’ needs. However, if a salesman can show their client that – with the help of the salesman’s product – their business can draw more custom, the client will likely buy into more of the product and at a faster rate.
Why is this?
Because, in accordance with the salesman’s solution, a product that costs $100 to source yet can be re-sold at the price of $1000 to another customer alongside improving overall business processes, then the client will surely buy this solution from the salesman.
This third level of the sales strategy needs to be defined precisely as it is a critical component to locking a sale that most salesmen will overlook due to the inability to locate this data.
Statistics for real product value
Within summarising statistics, we have demonstrated how a sales speech can focus on turning the terms into a clear monetary value that can be compared to the cost of the product. This indeed sounds daunting but, it is the only way to achieve sales more easily over time.
The first task for the salesman – prior to approaching the client – should always be to research and find data about the value of the product’s solution. Once the data is gathered and entered into a table or chart, the question becomes: “How can the salesman communicate with the customer in order to efficiently convey this information?”.
The core recommendation from Auren Israel is to use KPIs (Key Performance Indicators).
Using such KPIs by entering data from the charts and comparing them to the current activities of the client can effectively express the result of the product’s improvement to business processes and strategies. Thus, conveniently creating a hard sale with the client.
Using metrics requires proficiency. Yet when following learning paths, it can be applied and configured to DASHBOARD in a way that will present the client with a comparison between their business status today, their business status in the past and the prospects of their business status in the future.
In doing so, the client will have a straightforward and visual way to understand the solution’s results. Therefore, immediately securing the selling process between salesman and client at a slightly adjusted price to suit the context of the sale.
Good luck, salesmen of the future!
Senior business consultant