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Mark 362 - Week 5 - Introducing Value-Added Selling

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16 views13 pages

Mark 362 - Week 5 - Introducing Value-Added Selling

Uploaded by

Astir Le
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Introducing Value-Added

Selling
with Duane Weaver
Outline
 The Value-Added Organization
 Value-Added Selling
 The Value-Added Selling Process
The Value Added Organization
 “Value-added organizations are great
because they deliver a valuable total
experience”
Reilly, 2003. Value-Added Selling. P. 3.
 Three styles:
 Equalizer: level the playing field; close gaps
 Differentiator: work to be better; expand gaps
 Value-Added Peak Competitors: Focus on
customer’s reality and bridge the company to
the customer; bridge the gaps
The Value Added Organization
(A closer look at V-A Peak Performers)
 Have a business excellence approach
1. Outperform competition
2. Create lasting Value
3. Long term success
 Types of Foci:
 Challenge Status Quo: “Does this process add value to our
efforts or just cost?”
 Challenge Themselves: “Is this the best we can do with our
resources?”
 Primary Mission: “To serve customer’s better, not just the
competition”
 Success by: “helping customers become more successful”
Reilly, 2003. p.5
The Value Added Organization
(focusing the lens on Organizational
Excellence)
“Organizational Excellence is the natural outcome of
individual and team excellence”
Reilly, 2004. p. 9
 Individual as a cost center profit center
 Peers as internal customers:
1. “We” is greater than me (team approach)
2. Treat with same respect as they provide their best customers
3. Build each other up, not break each other down (avoiding the
“silo effect”)
 Engage Customers as a Privilege
 Customer service is a philosophy held accountable by everyone
in the organization
 Proactive customer service approach
 Selling is relationship management
 (Debunking the Brand Loyalty Myth: while customers prefer brands they preserve
loyalty for people)
The Value Added Organization
 Group Exercise:
 In groups of 4 or 5, think of an organization
you know or have worked for that
exemplifies the qualities of a “value-added”
organization and provide three different
examples that demonstrate some of these
qualities.
 Share these examples with the class
explaining why you think this organization
has a value-added focus.
Value-Added Selling
 What is Value?
 Simple view: Price + Cost + Impact = Value
 Customer-Focused Value: walking in the customer’s shoes
(what do they want)
 Seller-Focused Value: Defined in seller’s terms, (if we don’t have
it, they don’t need it)
 Perceived Value: Reality in the mind of the buyer (the qualitative
features of what you sell: style, reputation, packaging, knowledge)…
getting the “warm and fuzzy”
 Performance Value: quantitative; proof behind the promise of
perceived value
 …everything you do to something from the moment you
buy it, sell it, and service it. It is not value until the
customer says it’s value.
Value-Added Selling
 Is a business philosophy whereby:
 You are proactively looking for ways to enhance,
augment, or enlarge your bundled package for the
customer.
 Promising a lot and delivering more (perhaps
expectation management)
 Value-Added salespeople sell:
1. The product
2. The company
3. Themselves (big part of solution)
Value Added Selling Skills
 Attributes
 Ego Strength (self esteem)
 Empathy (life is bigger than I, humility)
 Ego Drive (energy to “make it happen” – I WANT TO)
 Attitudes of Value:
 Integrity (trust as foundation of all relationships)
 Knowledge (well informed for knowledge is power)
 Equity (mutually beneficial outcomes get what you give)
 Excellence (pleasure from doing it well)
 Time (most precious resource-frugal with it)
 Service (a pleasure…not a pain)
 Teamwork and Synergy (peer respect and value from the “we”)
Value Added Selling Skills
 What Customers Really Want
(TOP TEN LIST):
1. Knowledgeable salespeople
2. Product quality
3. Product availability
4. Ease of doing business
5. Technical support
6. Acquisition price
7. Salesperson’s ability to get things done
8. Salesperson’s follow-up
9. Product performance
10. Support after the sale
Why some don’t sell Value-Added
 Fear of losing order
 Lack of confidence in what is being sold
 Lack of skills or knowledge to add value
 Mixed management signals (value-add
supported as long as goals meet, if quota
drops…push for sales regardless)
Value-Added Selling PROCESS
 Traditional Sales Approach (the FUNNEL):
 Acquire new business
 Fill pipeline
 Pitch the product
 Close the deal
 Value-Added approach (cradle to grave):
 Identify customer needs…follow through until
need satisfaction occurs:
See chart on handout (p. 38 2nd Edition)
Thanks
 Use the rest of your time today to get into
your TEAMS and discuss plans for the
sales project

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