In Building Value

Donald Kelly, TSE Hustler's League, The Sales Evangelist

Today’s episode on the TSE Hustler’s League touches on the topic of credibility. We could be too focused on other areas of selling that we tend to leave out the credibility part which is just as equally important.

So I want to share with you some insights into how you can build that credibility.

 

 

What is Value?

  • Value is defined as the extent to which a good or service is perceived by its customer to meet his or her needs or wants
  • It’s measured by a customer’s willingness to pay for it.
  • It commonly depends more on the customer’s perception of the worth of the product than on its intrinsic value.

What we might see…

As sellers, we see the intrinsic value of having a car, for example, like having those features and benefits. But for a customer

What your customers might see…

Maybe for them, the value of having a car is something that can help them take their kids to daycare with A/C in South Florida. So maybe the value of the car to them would be the A/C and safety.

Hence, value depends mainly on that prospect. As sellers, we should be able to understand that and know how to articulate it to them.

The Three Pillars to Establishing Value:

  1. Undervalued Needs

These are things your prospects don’t fully appreciate.

What you can do: They may have been played down by the company. Is there a way you can get ahead of that? Focus on undervalued need.

  1. Unmet Needs

These are the needs your prospects might have forgotten because they’ve done work around or they’ve put band-aid on it.

What you can do: Try to demonstrate the importance of making that change. Show them other ways that they can do their business.

  1. Unconsidered Needs

These are the things that they’ve never even thought about it. These are things that have never crossed their mind. They don’t know these needs ever existed. These are problem they have but because they’re underneath the service, they don’t realize it’s affecting them until you’ve pointed it out.

What you can do: Do research on the unconsidered needs your client doesn’t realize about your product or service.

What is Credibility?

It’s defined as the quality of being trusted and believed in. Credibility leads to trust and trust leads to us making more money. People do business with those they know, like, and trust.

Ways to Establish Credibility:

  • Don’t be desperate
  • Be very specific.
  • Back it up through testimonials.
  • Offer an opportunity to opt out. You need to set the rules before you play the game.
  • Be willing for them to say no. Accept it and move on.

Episode Resources:

Star Wars: Bloodline by Claudia Gray

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