Why is value-based sales training the future of selling?

Great salespeople are relationship builders who provide value and help their customers win

Jeffrey Gitomer, American salesperson, author and speaker

Sales is not merely about selling a service or product that is heard and valued. That is why, over the years, the sales field has undergone a massive transformation. Today, more and more organisations are inclined to train their teams in value-based sales. Modern-day customers are aware, woke, and sensitive. It is imperative to treat them with respect and add value to their lives and businesses.

As a coach, I have worked with many organisational leaders to inculcate value-based sales, and they have seen a difference in the results.

What is value-based sales training all about?

This approach may focus on a product or service’s unique value rather than just its features, benefits, or price. Here, we may need to understand the customer’s specific needs, challenges, and goals and then curate solutions to address those needs and deliver tangible value. This approach may require a deep understanding of both the customer and the market and the ability to articulate the benefits of your solution in a way that resonates with the customer’s priorities.

Several key factors drive the shift from traditional sales methods to value-based selling:

1. Informed Buyers: Buyers have access to a lot of information online. They are more knowledgeable and have higher expectations. They can easily compare products and services. This makes it essential for sales teams to differentiate themselves by providing real value.
2. Complex Buying Decisions: Today, most organisations’ service offerings and customers’ needs are complex. Instead of looking for a provider who sells a product or service, customers seek someone who solves problems. Organisations may require a value-based approach to selling to offer strategic advantages and long-term benefits.
3. Long-Term Relationships: Building long-term customer relationships is increasingly important in a competitive market. Value-based selling helps develop trust and loyalty by focusing on the customer’s success rather than simply making a sale.
4. Customer-Centricity: Modern organisations may need to emphasise customer-centricity to stay ahead of the competition. Value-based selling aligns with this focus by prioritising the customer’s needs and ensuring the sales process is tailored to their situation.

Why is value-based sales the future of selling?

1. Enhances Customer Understanding
   Value-based sales training may equip sales professionals with the skills and tools they might need to understand their customers’ needs in depth. From learning how to ask the right questions and actively listening to uncovering the underlying needs and pain points that drive the customer’s decision-making process, organisations might need to know it all to craft the right strategy. By gaining a thorough understanding of the customer’s business, sales teams may be able to position their solution as a tailored response to those needs rather than a one-size-fits-all offering.
2. Builds Stronger Customer Relationships
   One key benefit of value-based selling is the ability to build stronger, more meaningful relationships with customers. By focusing on value rather than price, sales professionals can demonstrate a genuine interest in helping the customer succeed. This approach fosters trust and credibility, essential for long-term customer loyalty.
   
   Sales training that emphasises value-based techniques may help sales teams move beyond transactional interactions and create lasting partnerships with customers. These relationships are more likely to result in repeat business, referrals, and a stronger reputation in the market.

3. Increases Sales Effectiveness
   Value-based sales training increases the effectiveness of a sales team. When sales professionals are trained to focus on their product or service’s unique value, they may better align their sales pitches with the customer’s priorities. This may also lead to more persuasive and compelling presentations, higher conversion rates, and shorter sales cycles.
   
   Moreover, value-based selling may also encourage sales teams to be more consultative, acting as advisors rather than just sellers. This shift in mindset can help differentiate our organisation in a crowded marketplace and position our solution as the best choice for customers seeking real value.

4. Align sales with Business Strategy
   A value-based sales approach may also help ensure our sales efforts align with your overall business strategy. By focusing on delivering value, sales teams may be able to support better the company’s long-term goals, such as customer retention, market expansion, and brand reputation.
   
   Sales training programs that emphasise value-based techniques may help team members align better with the company’s strategic objectives. This alignment is critical for driving consistent results and achieving sustainable growth.

5. Adapts to Changing Market Conditions
   The business environment constantly changes, with new challenges and opportunities emerging regularly. Value-based sales training may prepare sales teams to adapt to these changes by equipping them with the skills to respond to evolving customer needs.
   
   For example, customers may prioritise cost savings and efficiency during an economic downturn. A sales team trained in value-based selling can adjust their approach to highlight how their solution can help customers reduce costs and improve operational efficiency, making them more resilient to market fluctuations.

Tips to implement value-based sales training in an organisation

• Assess your current sales approach: This may involve analysing customer feedback, reviewing sales metrics, and gathering input from your sales team.
• Develop a customised training program: The program can include practical exercises, real-world scenarios, and ongoing coaching to reinforce value-based selling techniques.
• Focus on customer-centric skills: Ensure your training program emphasises developing customer-centric skills, such as active listening, problem-solving, and consultative selling, to deliver significant value.
• Measure and adjust: Track your sales team’s performance after implementing value-based sales training and make adjustments as needed.

Reflective questions to think about before you start with value-based sales training:

• How well do we understand your sales process’s current strengths and weaknesses?
• What organisational changes do you anticipate shortly?
• Will coaching help with your long-term and short-term goals? How?
• How will you engage and involve key stakeholders to maximise value-added selling?

Please feel free to share your thoughts. Write to us at dinkar@groval-eulers.com.