Value First in sales - Gaby Awad

Gaby Awad - “Buying Customers”

Episode: Value First in sales

Introduction
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:

• Make a friend before you make a sale… and
• Before you can take, you have to give…

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:

1. Stop thinking of yourself as a commodity, service, or product. Let’s get one thing straight before we go any further. Not everyone will buy on value. 30-40% will buy on price. That’s the bad news. The good news is that 60 to 70% of all customers will buy value if you provide it to them.
2. Take the last 10 sales you made and try to discover how the sales was completed.
3. Don’t focus on the sale, focus on the lifetime use of the product or service.
4. Start your sales call at a higher level. Shoot for the highest point of entry. 
5. Start focusing on relationship opportunities instead of bidding opportunities. Give that bid to your competitor…
6. Start building your reputation as a person and provider of 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:

1. The value that your COMPANY provides… what you company stand for, how you partner with, and how your company serve others
2. The value that your PRODUCT or SERVICE provides… show similar situations at other customers... how they performed better as a result of buying from you. Tell stories about other successful users.
3. The value that YOU provide… I mean the first sale that is made for you. They have to buy you first. What will you do in favor of the customer? Your value is things like your industry knowledge, product knowledge, customer knowledge, and your desire to serve. You have to go beyond the salesperson to be their business friend, a resource, and an advisor to them.
4. The value in SHORT TERM INCENTIVE… it may be 6 months of free service, a starter kit of supplies, a marketing remate, something that enhances their feeling of value on a one time basis. I offer the alignment consultation free… but I make sure they know it is worth US 2000
5. The value that helps your customer PRODUCE MORE, BENEFIT MORE, and / or PROFIT MORE… this is the most important of the entire value proposition, and almost never used. Your customers want to know what’s in it for them.
6. The continuing VALUE AFTER THE SALE by continuing to provide value, you let them know this is a relationship, and not a transaction. Continuing value has to do with service, help, updates, upgrades, supplies, and critical industry information that continues to help your customer produce, benefit, and profit from their relationship or partnership with you.

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,

• Provide the customer value through great ideas
• Create something unique and memorable
• Ideas come from observing, listening, and asking questions
• Good ideas will come; the idea is to keep trying

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…

• They are making all kind of judgments about

• YOU
• YOUR PRODUCT
• YOUR COMPANY

• Much about their judgment about you is done during the presentation itself

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:

• Invest time knowing your customer needs
• Focus on how you can make them win, profit, benefit, how you can make them improve their service, retain their employees, etc.
• Ask them…
• Focus on them and their business / individual requirements
• Build relationships with them
• Know what are their dangers, obstacles, barriers?
• What frustrates them?
• Put yourself in THEIR shoes
• Research solutions and options that work for THEM
• Invest time

• Create a one-sentence value statement about your company. Ask yourself, “So What?!” Then, rephrase it in terms of the customer
• Try to pass the “So What?!” test three times

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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.


You can connect with Gaby on any of his seriously social platforms
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Send an email: gabyawad@actioncoach.com

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