It’s about more than just the price: 

How to create value for your products and brand

We are currently living in a world where information is more readily available than ever before. When it comes to making purchases, customers have hundreds of options at the touch of a button. In a landscape where you are one of thousands of other people trying to make your mark, the ability to stand out is more important than ever. One of the best and easiest ways to stand out is by showing how you are the most valuable option. 

There is no doubt that cost is one of the most common sales objections that you will come up against. Chances are, you are not the cheapest option. Even if you are competitively priced, that still isn’t enough to guarantee you a sale. There are often two main factors that customers consider when making a purchase - the price of the product and the perceived benefits. When a customer believes that the price they are paying is worth the benefits received, they will most likely make the purchase. This means that the higher value you can place on your products and your brand, the less that cost becomes an issue. In this article we will look at seven different ways to add value to your products and your brand, without talking about price, to help you build quality sales with life-long customers. 

Make It Personable

Adding value seems to be one of those things that everyone likes to talk about and tell you that you need to do, but no one seems to be able to explain to you how to do it. Here’s why - it’s because value is subjective. There is no universal definition of value because it means something different to everyone. Because everyone’s definition of value is different, your pitch to every customer also needs to be unique. Your job as a consultant is to figure out your customer’s motivations and what they find most important.  When you understand the needs of your customer, you are able to demonstrate how your products and company can put their needs first. 

You understand the value that you have placed on your products and company, it is probably one of the reasons you chose to align yourselves with them. Your company shows what they perceive their value to be with the price of their goods and services. Neither of these things mean anything to your customer because your customer has to decide for themselves what the value of your products and your brand is to them. So how do you help customers do this? You get to know your customers, personalize your conversations, and show them that you understand what is most important to them and what they find value in.

The easiest way to personalize a conversation with a potential customer is to do your homework. Before you approach someone, take some time to quickly check out your common connections and shared social media content. These will provide clues on what your customer may be looking for, their previous experience with your company (or similar companies) and whether or not your brand would be a good fit. However much you might think you know about your potential customer, take the time to really listen to them. This might seem obvious, but most sales people have a generic pitch (usually given to them by their company), and once they get to a certain point in the conversation, their focus is on completing the pitch. Make sure to relate everything back to your customer and what you understand they are looking for. Don’t just be focused on what you are going to say next. Your generic pitch is meant to be a guideline, don’t make yourself a cooperate robot by refusing to deviate. 

Find the Right Customer

Companies will tell you this all the time - that your products are for everyone. While this might seem exciting and like it would make your products easier to sell, when you try to market to everyone, you dilute your message and end up selling to no one. While you might have a product that works for a lot of people, not everyone is going to be for you. 

Chasing every possible lead will result in sales - after all, there is no denying there is strength in numbers. However, this method is also extremely time-consuming and often comes at the cost of brand loyalty and customer retention. Empower yourself to prioritize opportunities where you can really bring value to your customer. There are only so many hours in the day, and it is easier to market to a smaller niche with similar ideas and values. Attracting the right customer means that you only have to show value in one way. Consider narrowing down your ideal customer persona so that you can focus on becoming an expert in your field for those customers. 

Educate

One of the most effective ways to provide value to your prospective customers is to help educate them on a topic that they are interested in. Give something to your customers without asking for anything in return by offering them free content that is useful and relevant. This might seem like a lot of work (because it is), and it will take time to reap the rewards of your efforts, but it is absolutely worth your time in the long run. 

Education builds brand awareness. When you take the time to educate your customers, you become a trusted resource and your customers will begin to see you as an expert on that topic. This means that when you make recommendations, your customers will trust that you know what you are talking about. Your goal should always be to educate your customers to the point where the only question left is price, because you have covered everything else already.    

Belief in your Product

You need to believe in the value of your product. This might seem like common sense, so many people enter into a company and immediately start trying to promote and sell it without ever actually having tried the product themselves. While it is amazing that you are excited to jump right in, slow down to ensure long term success. You can’t show the value of something if you have never experienced it for yourself. 

Make sure that you try your products and really take the time to research something before you start to share it. When you demonstrate an understanding of your products and services, and can personally speak to them, your customers will see you as a valuable resource. You need to have passion, belief and conviction in your products and your company. No matter how convincing you might think you are, unless you are the world’s greatest actor/ actress, whether or not you believe in and actually use your product will show in your conversations. If you continuously come off as unsure, or have to constantly stop to look for answers, your customers will start to lose trust in you. Afterall, why should someone invest in something that you haven’t invested in yourself?

Bridge the Gap

People don’t buy products. Wait, what? This might sound contradictory, but it is true - what people actually buy is perceived results.The reason that your customer is even considering your product is because they have a problem that they are looking to solve. If you have done your homework, and connected to your customer, you know exactly what that problem is, and you are confident that you have a solution to it. 

Your customer’s need is the gap between what they are doing or experiencing now, and where they would like to be. Showing how you, your products and your company can bridge that gap is how you add value. If you have identified your customer correctly, provided them with relevant knowledge, and shown how you can solve their problem, they will most likely pay for that solution. 

Differentiate  

Every company has competition. You need to be knowledgeable about how you compare with your competition, but what customers are going to find the most value in is what sets you apart. When you understand what your competitors are doing, you can identify the gaps in what they are offering. By showing how you can fill those gaps, you add value. This doesn’t mean that you are putting down other companies or highlighting other companies' limitations. Shaming other companies is a quick way to build an unfavorable reputation and is just in bad taste. Instead, focus on identifying the areas where you are strongest, and let customers come to their own conclusions about why you are the best option for them by providing accurate and factual information. 

Build Long-Term Relationships

Loyal customers who see the value in your products and brand are more likely to invest further in your business. This is why maintaining customer relationships is just as important as building them. You put a lot of work into finding your customers, building a connection, educating them and leading them through the sales process. After spending all that time and energy converting them, it would be foolish to then turn around and immediately forget about them once they have made their purchase. 

No one likes when their consultant disappears right after the sale. It makes your customer feel used and unappreciated. When you close a sale, use the momentum to propel that relationship forward. Make sure that you are there to demonstrate and deliver on the value that you promised. Great service increases value and keeps your customers invested in your brand. A simple thank you and a check in to see how your customer is enjoying their products goes a long way to developing a life-long connection. 

Final Thoughts

While we can’t erase or skip fast the conversation of price, we can absolutely work to reduce its influence over a customer’s purchasing decision. By working to show our customers the value of the products and services we have to offer, we are asking them to make an investment. Take the time to educate your customers on why your investment is worthwhile. When someone truly understands and sees the value in your products and your company, they will make the decision to invest in becoming a customer.

Written By: 

Jennifer Gillap