Selling is all about communication. In sales, it is important that the client and the seller speak the same language of 
“Value,” which is the native language of a true salesperson. However, unfortunately, many sellers and consumers, tend to speak the language of “Price.” Price is defined as the amount of money or goods that is asked for or is given in exchange for something. Whereas, value is the amount that is considered to be a fair exchange for something. Value-based sales should be the foundation for all your sales efforts. It involves balancing confidence, personal understanding, and doing your homework. However, it has become difficult because technology has exposed consumers to have greater access to price information and competitors.
Sales based on lowest prices is neither a long-term, nor a highly profitable growth strategy. Lowest price is not always the basic parameter that attracts a customer. People who buy a service or product because it is the cheapest in market are not loyal. Lowest prices are never believed to equal best offers. Running a successful business involves knowing what your consumer needs, and having a good understanding of consumer behavior. Sellers should deploy price strategies to win over the mind, heart, and wallet of consumers; however, price strategies should involve properly presenting the price instead of lowering it. Seller can explain the price to consumer in such a way that the consumer feels that he got the best deal ever.
Also read: What These 3 Psychological Studies Say on the Psychology of Pricing
The strategies to value-based selling and making your product stand out in the low-cost world involve:
ChoosingYour Targets Wisely
New companies compromise on price and make a fatal mistake. They do not narrow their target market, and do not understand that their products are not for everyone. A seller company can do it by researching a potential client and by checking whether it is a good candidate to meet the price needs. It saves the seller company from wasting time talking to people who are only interested in cheapest deals.
Leverage Your Strengths and Experience
When you are in a sales meeting with a potential client, you should be well versed with the strengths of your company. It largely comes from sales skills. You should tell the potential customers about your company’s history, which helps to build customer’s confidence in your product.
Confidence is the Key Factor
While highlighting the value of your product over cheaper competitors, you should not be indecisive about negotiating the price. Be confident and do not drag your competitors through dirt. You can highlight why the value of your product is worth customer’s consideration over other lower-price options.
Focus on Customer Service
The most difficult job selling value to customers is to get them picture full breadth and depth of everything that your company has to offer. Clients expect a fast response time, ease of use, and the feeling that you care about them. Customers, obsessed with finding lowest prices, turn into headaches. However, the customers who see your value will understand that you will be there to provide customer service. You just have to make sure that you keep providing good services to the customer.
