Show Menu

Selling to Value Cheat Sheet by

Selling to Value
marketing     value     selling

Introd­uction

Selling to Value (S2V) refers to a distinct approach to selling that focuses on aligning your offering to the business value it creates for the customer. This approach requires the sales practi­tioner to develop an ever-e­xpa­nding mindset and skill set—and it requires a commitment to a purpose that goes beyond self-i­nterest to include both the interest of the individual customer and the interests of that customer’s business organi­zation.

S2V needs to be considered in all aspects of the sales process: prospe­cting, qualif­ying, contac­ting, proposing, and closing a sales opport­unity. But Selling to Value has the greatest impact on how a salesp­erson discovers needs. Discov­ering needs is at the very heart of the selling to value relati­onship.

Discovery for Selling to Value - S2V

In a recent study of buying execut­ives, 94% indicate that they want salesp­eople to engage them in a business impact discus­sio­n—but those same executives indicate that only 19% of salesp­eople are effective in this regard.

This gap between what buying executives want and what they get is driven by three critical elements:
1. The Intention of the Salesp­erson
2. The Science of Creating Value
2. The Art of Asking the Next Question

The Science of Value Creation

The Business Needs Identi­fic­ation approach provides an organizing structure to guide the explor­ation of how the customer organi­zation produces value. The company’s ability to produce value for its customers is influenced by five major elements.

1. Market

Conver­sations with customers begin with exploring the market in which the customer organi­zation competes. The value produced by the customer organi­zation is always best understood from the perspe­ctive of the market, its customers, and its compet­itors.

S2V involves exploring market trends and helping the customer organi­zation to exploit opport­unities that arise from a growing market or to minimizing the effects of a contra­cting market.

2. Strategy

The conver­sation about market forces flows naturally into an explor­ation of how the customer organi­zat­ion’s strategy addresses their market and produces a compet­itive advantage. Questions about their source of compet­itive advantage and their Critical Success Factors (CSFs) dominate S2V discus­sions to determine their long-term goals and resource alloca­tion.
 

Business Nees

3. Structure

The customer organi­zat­ion’s strategy cannot be implem­ented unless the organi­zat­ion’s structure is aligned to execute that strategy. With a solid picture of market conditions and current strategy in place, the conver­sation easily flows into a discussion of the customer organi­zat­ion’s ability to execute the strategy.

4. People

There is a reason payroll is the single largest business expense: people drive the business forward. Efforts to implement a new strategy require the engage­ment, not just cooper­ation, of the people in the organi­zation.

5. Business Metrics

Underlying all the other components are the customer’s business metrics. Knowing what metrics are most important for the customer organi­zation helps you understand how they measure and track their own value production and how they will track the perfor­mance of your solution. S2V requires salesp­eople to become fluent in the way customers talk about and measure their own success.

Practicing the Art & Science of Discovery

In the past, the customer had limited access to product inform­ation, and a simple needs-­based approach to selling worked fine for both the salesp­erson and the customer. Today, the customer has already shopped extens­ively before agreeing to meet with a salesp­erson. Customers are looking for something more than an explan­ation of features; they are looking for a new perspe­ctive on how best to move their business forward. They are looking for insight and a new perspe­ctive on market trends and compet­itive positi­oning.

Download the Selling to Value Cheat Sheet

2 Pages
//media.cheatography.com/storage/thumb/davidpol_selling-to-value.750.jpg

PDF (recommended)

Alternative Downloads

Share This Cheat Sheet!

 

Comments

No comments yet. Add yours below!

Add a Comment

Your Comment

Please enter your name.

    Please enter your email address

      Please enter your Comment.

          Related Cheat Sheets

          Fearmongering Words Cheat Sheet

          More Cheat Sheets by Davidpol

          Commonly Used Acupuncture Points Cheat Sheet
          17 Sustainable Development Goals Cheat Sheet
          Fire Safety and Evacuation Planning Cheat Sheet