Value Added Selling

I have read a number of articles lately that promote value added selling. Positioning yourself as a valuable resource and someone who is good to have around is a great strategy for fighting off price cutting competitors. Being the low price option seems like a good place to be in the short run, but it will bite you in the long run. After all, profit is the reason for business and giving your profit away to land an order not only hurts you, but your industry as well. Think it over. If you know me, you know that I am dead set against being the lowest bidder. I fight to keep my pricing fair and work at building an image as a trusted advisor and a go to vendor.  Here are a couple of ways to establish your value.

Work at being a subject matter expert. If you know more about what you are selling than your competition you will win deals. Make continuing education an ongoing event in your life.

Don’t try to be everything to everybody. Get good in a niche and pursue your business in that niche. This means qualifying who you do business with and walking away from opportunities that aren’t in your sweet spot.

Focus on the customer’s business problems and promote solutions to solve them. Make sure that everyone you meet and do business with is better off for the experience. You will establish and maintain a reputation as a valuable vendor.

Get organized and stay organized. Get and use a good CRM (Customer Relationship Management) software system. There are many useful apps for your smart phone. Evaluate and employ other useful tools of the trade.

Stay in touch with your prospects, customers and influencers on a regular basis. Use e-mail, mail or an occasional phone call in between sales visits to keep your name in front of them. Make sure that they know how important they are to you.

Don’t lead with discount prices when selling. Establish the value that you bring to the table and fight for your price point. It is a good strategy in the long run.