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Effectively Communicating the Value that You Offer
 

Effectively Communicating the Value that You Offer

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One thing that most sales people are really good at is going into detail talking about all the great things their products do. The challenge with that is that, when you are first talking to a ...

One thing that most sales people are really good at is going into detail talking about all the great things their products do. The challenge with that is that, when you are first talking to a prospect, it is too early to talk about what your products do.

This prospect do not care at this point about your products. What they care about is “What is in it for me?”

In order to answer that and communicate in a language that the prospect understands, focus on the value you offer. This is not what your products do, it is how your products help.

In this brief training video, we outline what value is, how you can identify what your value is, and how you can best communicate it.

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  • Before we go any further, let’s clearly discuss what value is specifically in the context that we are using it as it can mean different things to different people. When we talk about value, we are referring to the transfer of something from one party to another that has a positive net worth. Now, the important thing to get your hands around with this is that value is an intangible attribute. It is not something you can see or pick up, yet it is definitely there, has a positive net worth. And actually the transfer between parties can be visible when you are aware of the value that exists and you know what to look for, and that is what we will teach you hear today.Let me provide a little more color around that by sharing a few examples. First, it is important to note that value is something that is transferred everyday at a personal level between family and friends. For example, when you bring humor to a group or conversation and make someone laugh, you are providing value as you are improving the conversation from what it would be without that. Or by teaching someone something, being a good listener, providing security, or making someone’s life easier are all examples of providing value at a personal level. You are essentially giving something or contributing something to another person.Once we understand how we offer value at a personal level, we can better understand how we deliver value at a business level. Just as we can improve the lives and interactions with friends, we can do this for our clients as well by helping them to save money, helping them to make more money, by providing valuable information, or again making someone’s day easier. These are all examples of the value that we can transfer from us to our prospects and clients.One important thing to start to get your hands around is that value is not the same thing as the product that you provide. It is what your product helps your clients to do or helps them to achieve.
  • The value that we deliver can typically impact our clients on three different levels.At the lowest level, we offer technical value. These are the benefits and improvements that we can deliver that make things work better and are realized in the areas of processes, systems, and people. Examples are helping a business to save time, automate certain tasks, improve performance, improve reliability, etc.As a business begins to realize value at the technical level, those benefits will trickle up and be realized at the business level and be seen as a decrease in costs, increase in revenue, or decrease in risk. For example, if manual processes are able to be automated, that will lead to a decrease in the labor that is needed and as a result, there could be a decrease labor costs and this is an example of realizing business value.When we help clients to realize business value, that can also continue to trickle up to impact the clients on a personal level and be realized in the form of recognition, compensation, decreased work load, etc. For example, if processes are automated and that decreases costs, that could lead to a promotion for the person that is responsible for that area. Or they could get an extra bonus for the year. Or maybe it means that they no longer have to work over the weekend and are able to spend more time with their family and this is realizing personal value.So when your clients consume your products and services, they are likely going to realize some sort of value and benefits in these three areas.
  • As you can see, it can be easy to go down the wrong path when trying to write a good value statement. To help with that, here is a four step process that well you to build your value statement. It might not build the perfect statement for your situation, but it will at least get you going in the right direction. Step one is pretty easy and that is just to simply identify the main product or service that you are selling. Or we might want to get a little more granular and list out the actual features of the product that you sell. But for this example, we will just stay at the product level.For an example, we are currently selling inventory management software.
  • The next step in the process is to identify the technical benefits that are provided by the product that you have listed out in step one.If we sell inventory management software, how does that help from a technical standpoint? If the software helps our clients to order more accurately and may be go through the ordering process quicker, than we could say that we help our clients to improve their ability to effectively manage their inventory levels.This is at the technical level because we are talking about processes and not getting into dollars just yet.
  • Step three is to identify the business benefits that result from the technical benefits that are delivered. When we help to clients to improve their ability to effectively manage their inventory levels, what does that lead to?If there is less inventory sitting around, then help our customers to decreased the cost of goods sold. We also automate more and make things easier and this can help to decrease administrative time.
  • Step three is to identify the business benefits that result from the technical benefits that are delivered. When we help to clients to improve their ability to effectively manage their inventory levels, what does that lead to?If there is less inventory sitting around, then help our customers to decreased the cost of goods sold. We also automate more and make things easier and this can help to decrease administrative time.
  • We have a short but sweet sentence that states either the technical or business value that you offer by just saying “We help businesses to” and then insert either the technical or the business value.Continuing with the same example, “We help businesses to improve their ability to effectively manage their inventory levels.” for a short but sweet technical value statement.Or, “We help businesses to decrease cost of goods sold and administrative time.” For using the business value.When you are on a cold call, sometimes you have to be quick and to the point, and this short value statement sometimes is what fits best.
  • The next template is one where we connect the technical and business value together in the same sentence.For example we could say, “We help businesses to improve their ability to effectively manage their inventory levels and this often leads to a decrease in cost of goods sold as well as administrative time.” We basically share the technical value and the describe what that can lead to in terms of business results.Or we can use that same flow but flip it around to say “We help businesses to decrease in cost of goods sold as well as administrative time and do this by improving their ability to effectively manage their inventory levels.”
  • The next template is one where we connect the technical and business value together in the same sentence.For example we could say, “We help businesses to improve their ability to effectively manage their inventory levels and this often leads to a decrease in cost of goods sold as well as administrative time.” We basically share the technical value and the describe what that can lead to in terms of business results.Or we can use that same flow but flip it around to say “We help businesses to decrease in cost of goods sold as well as administrative time and do this by improving their ability to effectively manage their inventory levels.”
  • One thing you may notice in the previous two templates is that there is no mention of the actual product that we sell. There can be some benefit to leaving product info out of the value statement as it can help to build curiosity and try to avoid triggering the prospect’s guardedness. But in some cases it may make sense to be a little more clear as to what you are talking about from a product standpoint, and there are many sales people out there that feel more comfortable with product info being in there, so here is a template that accomplishes that. Basically, this one connect the product with the value. We provide inventory management software and this helps businesses to improve their ability to effectively manage inventory levels.We provide inventory management software and this helps businesses to decrease their cost of goods sold and decrease administrative time..
  • Even though it can be tough to uncover pain while cold calling, it is not impossible. And here are 4 tactics that are very easy to implement and can have an immediate impact on your results.We will go through each one at a time.

Effectively Communicating the Value that You Offer Effectively Communicating the Value that You Offer Presentation Transcript

  • Effectively Communicating the Value that You Offer Michael Halper Founder and CEO SalesScripter, LLC
  • Interest The Pillars of Sales Messaging Value Pain Qualify Credibility Objections Sales Messaging Strategy Cold Call Email Website Presentation Introduction Networking Alternative Approach
  • Value
  • What is Value • Transfer of an intangible attribute from one party to another that has a positive net worth • Could be at a personal level: – Making someone laugh – Teach someone how to do something – Being a good listener – Providing security – Making someone’s day easier • At a business level: – Helping a business to save money – Helping a business to make money – Proving valuable information – Making someone’s day easier – Helping to save time • It is not your product, it is what your product helps your clients to do or to achieve
  • Three Levels of Value Technical Value • Processes • Systems • People Automation of manual processes Improve performance Decrease time to perform work Improve reliability Business Value • Revenue • Costs • Services Improve revenue / market share / close rate Decrease cost of goods sold / labor cost Improve delivery of services Personal Value • Income • Career • Workload Increased bonuses, commissions Recognition and promotions Decreased/increased workload
  • Identifying Your Value Step 1: Identify a product / service, or feature Product / Service or Feature Function Technical Value Business Value Personal Value Auto inventory replenishment
  • Identifying Your Value Step 2: Identify what your product does Product / Service or Feature Function Technical Value Business Value Personal Value Auto inventory replenishment Automatically submits orders to vendors based on inventory levels
  • Identifying Your Value Step 3: Identify how that helps from a technical perspective Product / Service or Feature Function Technical Value Business Value Personal Value Auto inventory replenishment Automatically submits orders to vendors based on inventory levels Decreases time spent ordering
  • Identifying Your Value Step 4: Identify how that helps from a business perspective Product / Service or Feature Function Technical Value Business Value Personal Value Auto inventory replenishment Automatically submits orders to vendors based on inventory levels Decreases time spent ordering Decreases staff and labor costs
  • Identifying Your Value Step 5: Identify how that helps from a personal perspective Product / Service or Feature Function Technical Value Business Value Personal Value Auto inventory replenishment Automatically submits orders to vendors based on inventory levels Decreases time spent ordering Decreases staff and labor costs Improves work life balance
  • Identifying Your Value Step 6: Repeat for additional products Product / Service or Feature Function Technical Value Business Value Personal Value Auto inventory replenishment Automatically submits orders to vendors based on inventory levels Decreases time spent ordering Decreases staff and labor costs Improves work life balance Predictive demand forecasting Predicts inventory needed based on historical data Increases ordering accuracy Decreases inventory costs Improves end of year bonus Management dashboard Provides visibility across inventory and orders Decreases time gathering information Improves decision making and bottom line results Improves promotion options
  • Identifying Your Value Step 7: Summarize to arrive at your core value Product / Service or Feature Function Technical Value Business Value Personal Value Auto inventory replenishment Automatically submits orders to vendors based on inventory levels Decreases time spent ordering Decreases staff and labor costs Improves work life balance Predictive demand forecasting Predicts inventory needed based on historical data Increases ordering accuracy Decreases inventory costs Improves end of year bonus Management dashboard Provides visibility across inventory and orders Decreases time gathering information Improves decision making and bottom line results Improves promotion options Inventory management software Manages inventory levels and orders Improves the ability to manage inventory Decreases inventory and labor cost Improves compensation potential
  • Creating a Value Statement Short and Sweet Template We help businesses to [insert technical, business, or personal value]. We help businesses to improve their ability to effectively manage their inventory levels. We help businesses to decrease cost of goods sold and administrative time.
  • Creating a Value Statement Connect Technical Value with Business Value Template We help businesses to [technical value] and this often leads to [business value]. We help businesses to improve their ability to effectively manage their inventory levels and this often leads to a decrease in cost of goods sold as well as administrative time.
  • Creating a Value Statement Connect Business Value with Technical Value Template We help businesses to [business value] and do this by [technical value]. We help businesses to decrease in cost of goods sold as well as administrative time and do this by improving their ability to effectively manage their inventory levels.
  • Creating a Value Statement Connect the Product with Value Template We provide [insert product] and this helps businesses to [insert technical or business value]. We provide inventory management software and this helps businesses to improve their ability to effectively manage inventory levels. We provide inventory management software and this helps businesses to decrease their cost of goods sold and decrease administrative time.
  • Identifying Your Value Your Product 1. Inventory management software Your Technical Value 1. Decreases time spent ordering 2. Increases ordering accuracy 3. Decreases time gathering information
  • Messaging Workflow Product Value Pain Qualify Objections
  • SalesScripter www.salesscripter.com What do you sell? ___________ How does it help? ___________ What problems do you fix? ___________ What questions should you ask? ___________ 1. Asks all the key questions 2. Maps answers to document library
  • If You Want More Help • The Cold Calling Equation – Problem Solved – Available on Amazon - $15.95 • Web-based training program – Week 1: Ideal Sales Process and Communicating Value – Week 2: Finding Prospect Pain – Week 3: Ideal Prospect and Qualifying – Week 4: Dealing with Objections and Getting Around the Gatekeeper – Week 5: Building Rapport, Interest, and Credibility – Week 6: Generating Leads and SalesScripter Overview – Week 7: Improving the Connect Rate – Week 8: Inner Game – Week 9: Managing Prospecting Meetings and Managing Sales Cycles – Week 10: Improving the Close Rate and Disqualifying • SalesScripter – www.salesscripter.com – Walk-through services available • SalesScripter Demonstration – Every Thursday