Does this scenario sound familiar? You sell a quality service at a fair price, but your competitors sell a similar service for less. The only way to compete is to compromise on your pricing, delivering the same quality service for less and less.

It’s a race to the bottom. And I know you don’t want that.

If you sell products or services based on price alone, you’ll constantly be undercut by those in your industry with lower pricing.

What if you could stay competitive based on the value of your product or service rather than the price? You can, once you know the secret of value selling.

What is value selling?

Value selling is a sales process based on the value and the benefit of your product or service to your customer. If a prospective customer perceives that they will get a lot of benefit for the price they pay, then they will consider your product or service to be high in value.

According to this philosophy, customers buy your product or service because they look forward to enjoying a benefit that they wouldn’t have without investing in it.

After more than 45 years in sales, I’m a strong believer that people don’t buy products and services; they buy the benefits that products and services will give them.

For example, let’s say you’re a professional organizer. Value selling in this case would involve sharing the benefits of an organized home. A decluttered home reduces stress, increases a sense of calm, and allows for more time to enjoy your home, friends, and family. Paint a picture of how life is transformed when clutter is removed from the home by an expert.

If you want to boost sales in 2020, it’s critical that you show your prospective customers how they will benefit from your unique product or service. How will it help them? How will it empower them to reach their goals and solve their problems?

By showcasing the value of your services, the price becomes increasingly less important. If you don’t focus on value, all that’s left to talk about is price.

Here are some practical action steps you can take to move away from price selling and toward value selling, and by doing so, close more sales this year:

Step 1: Identify Your Customer

The first action step you need to take is to determine who is most likely to purchase your product today. That’s your target market. You need to understand who your customer is in order to determine what they value. What age range do they fall into? What is their annual income? How educated are they? What are their interests? Answering these basic questions is the simple, yet fundamental first step in the process of value selling.

Step 2: Get Beneath the Surface

The next step is to make sure you have a clear understanding of your target customer’s problems and goals. By identifying the challenges they face and the goals they want to achieve, you can position your service as the solution. If you want to make the sale, you need to clearly communicate how your service will solve their problems and improve their life in some way. You can be sure of one thing: if your service isn’t solving a problem, you’ll have a hard time closing sales even if your pricing is fair.

Step 3: Know Your Value Points

Now that you’ve identified your customers’ problems, make a comprehensive list of all the ways your product or service benefits them and the ways that it will solve their problems. The more solutions and benefits you can demonstrate to your prospective customer, the more value they will perceive. And when people perceive something is valuable, they pay accordingly.

In my decades of in-the-trenches direct sales experience, I have learned the power of value selling first hand. Competing on price is not only frustrating and demoralizing, but downright ineffective.

If you want to close more sales for more money with less stress, you need to master the skill of demonstrating value.

At Celeste Giordano Coaching, I work with entrepreneurs and sales teams teaching them proven strategies designed to help them close more sales, boost profitability, and achieve greater work-life balance. Value selling is a skill I have mastered and I teach my clients to do the same.

If you’re ready to make 2020 the year you finally double your revenue, contact me today to set effective benchmarks, maintain the right mindset, and master the sales strategies that will catapult your business this year.

Celeste Giordano’s mission is to help business owners develop the skills, knowledge and attitude necessary to “DoublePlus^TM” their income and become effective and inspirational leaders in their fields. Whether it’s taking your successful business to the next level or starting a new venture, she will teach you the exact skills and strategies you need to enroll more quality prospects, build a rock-solid team, and break through obstacles to achieve real profit and lasting success. Celeste is a professional business growth specialist, a master sales strategist, and dynamic speaker with 40 years experience in direct sales and managing high-performing teams.

To learn more about Celeste, click here.

Want to use this article? Please feel free to use this content as long as you keep it in its original format and include a link to the original post and Celeste Giordano’s brief bio.

At Celeste Giordano Coaching, I work with each client to implement the strategies they’ve been missing that will enable them to break through barriers preventing them from the success they know they are capable of. Contact me today to find your future clients who just don’t know what they’re missing.