Before we get to our blog post for today, I want to acknowledge all of the fathers out there in anticipation of Father’s Day this weekend.

Be sure to show your appreciation for all of the fathers in your life this weekend – husbands, fathers, step-fathers, single fathers, fathers-in-law, and grandfathers if you are blessed to have them with you.

I will spend Sunday with my husband, Mike, making his Father’s Day special indeed, and I will also be sure to show my appreciation to my brother, Mike Powell, who is a single father. Sometimes fathers are the least appreciated, and this is a great time to reach out to the dads in your life who you hold dear.

Now on to today’s topic: how to charge the price your products and services are worth – and get more clients at the same time.

Tired of competing on price? You’re not alone.

Let’s break down the problem: You sell a quality service, but your competitors do too. When you sell based on price alone, you’ll constantly be undercut by those in your industry with lower pricing. The only way to compete is to compromise on your pricing, delivering the same quality service for less and less.

That’s the last thing you want to do.

What if you could stay competitive based on the value of your product or service rather than the price?

Well, believe it or not, you can. And top companies do.

But first you need to discover the art of value selling.

What is value selling?

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

I’m a strong believer that people don’t buy products and services; they buy the benefits that the product or service will give them.

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.

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, 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?

Here are 3 practical action steps you can take to sell value instead of price, and close more sales in 2021.

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. Get as specific as possible, so you have a crystal clear vision in mind of who your customer is and what they value.

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 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 less likely they will be to deny that your service will solve their problem.

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 increase your closing ratio with less stress and without compromising on price, 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’m committed to helping my clients do the same.

Ready to “double plus” your income in 2021? Contact me today.

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