Gaby Awad - “Buying Customers”
Episode: Value First in sales
My name is Gaby Awad AKA The Coach on Wheels (you have to watch my YouTube channel to know why 😉), and I am your host for the BUYING CUSTOMERS radio show 🔥🔥🔥
It would be awesome if I could hear from you in real time during the show. If you’re listening live or to one of the recordings, you can always connect and interact with us on Facebook, Instagram, LinkedIn and Twitter at IBGRNetwork.
I live by some mottos in business and in sales… For example:
I make sure I show my Value FIRST before disclosing my price.
But most salespeople, marketing people, most C level people misunderstand and issue the word VALUE.
A simple example of value first is when you send a text message with “value” in the message to receive a free eBook… and not the value-ADDED stuff that people talk about…
Today, we are converting the world PRICE to the word VALUE FIRST in your mind and then in your actions and lexicon. It’s about the value of your product or service, the value of your response, the value of your reputation and it’s about the value you bring to the table. The value of YOU!
What maybe valuable to you might not be valuable to your customer
Take a moment and list the things your customer get as a result of doing business with you
If you cannot come up with any then you are in trouble. But first I want you to think about this: heart surgery, Mercedes Benz, vacation, home, restaurant…
Are people buying these price buyers for you? Or value buyers? Do you go for the cheapest surgeon? All these items are bought on value. So why do people buy value? Well, they perceive it to be worth the extra money.
Your customer, who buys price, does not perceive that you are worth the extra dollars. But that’s not a problem… It’s a symptom and an opportunity for you.
If you lose a deal on price, it means you were vulnerable to lose… your relationship was price based, not value based.
Things you must understand to stop losing on price, and start winning on value:
How to establish a reputation of value?
Your value and your reputation arrive way before you do to the meeting. Before I do business with you, I am going to google you, facebook you, Instagram you, linkedin you, and you can’t stop me. What will those platforms say about your value?
If you have a reputation of value, then customers will seek you, eager to pay your price in full.
What if you haven’t built up your reputation of value yet? Well then concentrate on delivery rather than sales pitch.
Value proposition has 6 parts or gauges. Measure these and improve all the way:
So, the value proposition if used properly and covers all 6 gauges mentioned previously, can eliminate competition. It can set forth things that make you the ONLY Choice.
You value is expressed in terms of you. So,
Here’s a formula: THE MORE PERCEIVED VALUE THE MORE YOUR CUSTOMERS WILL BUY FROM YOU
Here’s another formula: THE MORE VALUE YOU PROVIDE THE LESS PRICE MATTERS
But the key is giving them what they want… Not what you need!
Value is in your customers’ perception…
If you believe it’s valuable, but the customer does not believe it’s valuable, then IT’S NOT VALUABLE. Change from “WE” to “YOU” in your value proposition.
Your action plan is the following:
Next week we will cover... VALUE FIRST IN SALES. Try not to miss it and if you do you can always listen to the recorded podcast…
Written by Gaby Awad
As a Business and Executive Coach, Gaby helps business owners, leaders, and teams grow and achieve their goals through alignment, business re-education, coaching, and mentoring. He has more than 25 years of experience in executive positions and transforming businesses. Currently he is the Franchise Owner of ActionCOACH in Lebanon and in this position he also coaches Business Owners, CEOs and other top level executives.
Gaby holds international accreditations as certified coach from ActionCOACH, Marshall Goldsmith, The John Maxwell Team, and Jeffrey Gitomer Sales Academy. Gaby is also the founder of Good Session Coaching, an online learning platform for executives and business professionals where leaders can go through self-paced learning.
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