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Value your product

Do you value your product or service?

When working with a small firm in a coaching role a while ago we were looking at where business could be improved and, whilst sales could be better they were not disastrous. The key issue was that margins were relatively low.

A little digging into orders received and there was an obvious disconnect between the price list and the order values. Something was going wrong, somewhere.

As sales people were are often reminded that we need to present the value of our offering and not just the price. Raise the perceived value and the need to lower the price tends to go away… herein lay the problem.

Image showing stones on a see-saw demonstrating the need to Value Your Product
Value Your Product

It wasn’t that the company weren’t aware of the need to focus on value, the problem was that they did not see the value in their product themselves and, therefore, did not have the confidence to hold their price.

Once this became clear we looked at the market in general, compared their product and they soon realised that their list price was actually 15% too low!

We developed a set of arguments that explained the true value of their product, put these at the front of their pitch and within two weeks were seeing orders coming-in at the higher value. The icing on the cake was that they also had fewer requests for discount.

It is essential that as a sales person you value your product or service. After-all, if you don’t believe in it why should your customer?

At Venture Training we can help you, whether a small business or sole-trader, to get the most from your sales effort. Drop us a line via our Contact page to see how.

If you are on Twitter you can also follow us @VentureTrain to get your free sales tips as we post them.