The value one adds for their customer must become the product that is being sold. To become a top value-added seller, one must know the “product” they are selling, this is the value that you as a sales person represent.
In common with all products, value has its own specifications. These give it its performance capability, that is, what it is able to do inside a customer’s business. The sales representatives’ performance capability is customer-dependent and will vary for each customer application.
Each “product” will be unique to its customer. No two values will be the same, except by chance. As a result, sales consultants will no longer be able to print a price list. As values differ from customer to customer, moving up and down within the range establishes the norms, the price requires in the form of a customer’s investment to achieve each value will also differ.
To add value one must know these three specifications:
1. Muchness – A measure of whether you will be able to add a lot of value or only a little.
2. Soonness – Whether the value is added quickly or not for a while.
3. Sureness – How the value is added with a high degree of certainty or whether it will be hedged.
A mix of “muchness,” “soonness,” and “sureness” forms the value benefits that is offered to each customer. Each specification must be quantified. If all you can say is something like, “We are pretty sure that we can provide a lot of value to your operation very soon,” you will be saying nothing.
Once you have quantified your value, then you will be able to know your most important sales tool:
“What your added value is worth to your customers.”
Once you offer your customers the added value of a rupee as the result of doing business with you, what are you really offering them?
The rupee has three values. One is its money value. A rupee is a rupee. Another is its time value. A rupee today is worth more than the same rupee will be worth tomorrow. Finally, the rupee has investment value. It can be invested at a rate of return that will multiply its original value several times.
The added value is worth what customers can do with it—it is a function of how much they get from you, when they get it, and what they do with it. This is the ultimate worth of your rupee.
Like value, the rupee appreciates only inside the customers’ business. In order to create new worth for your customers, you must therefore get into their business—into their critical lines of business and critical business functions—and help them manage it.Sales consultants cannot create worth without the customers. Nor can customers achieve the added worth that you offer without you. To magnify the worth of a business, a sales consultants and their customers need each other. This congruence of need makes it a value-added partnership.