Are organisations now paying the price for not selling value? – Jamaica Observer

Posted: June 19, 2020 at 1:42 pm


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Why should organisations master the art of value selling?

In a nutshell, if done correctly, value selling allows organisations to close sales even if their competitor has a cheaper price. Given the current circumstances a global pandemic and an economy where so many industries have been shut down or compromised selling value will be important now more than ever.

A sales' executive reached out last week, and was worried that most salespeople interpreted the value selling competency as an invitation to promote the company's unique value proposition...sad to say but he's right.

The average salesperson will jump at an opportunity to share what they know because it is so much easier than asking the tough and timely questions that is required to really survive during this crisis. Let us look at the data.

Think Grow Lead (TGL) has evaluated approximately 3,700 salespeople in the region. In the table below, you can see the percentage of salespeople who are strong in three core sales competencies; as well as, their sales DNA (average score of the six competencies that make up sales DNA) all of which has a direct impact on one's ability to sell value.

Though shocking, the data are revealing that most of the region's salespeople are not good value sellers. Here is why:

Wrong Sales Process Most salespeople are not following or using a sales process that supports value selling. As seen in the data only 45 per cent of all salespeople has value selling as a strength.

Wrong Approach Most salespeople have not mastered the art of consultative selling; which is key in the value selling process. A seen in the data only 15 per cent of all salespeople have consultative selling as a strength.

Wrong Sales DNA Most salespeople's sales DNA doesn't support consultative or value selling. As seen in the data only 28 per cent of all salespeople have sales DNA as a strength

Wrong Company Policy Most companies are not decisive when it comes on to offering discounts; which sends conflicting messages.

So, what is the bottom line? Salespeople will not be able to sell value properly and effectively, until they have been trained on using the correct sales process, mastered the art of consultative selling and has been coached on sales DNA. Selling value will help your company navigate the economic ripple effect from the coronavirus. You'll not only continue to generate revenue; you'll be able to maintain your margins too.

Duane Lue-Fung is an award-winning entrepreneur and is the Founder & Chairman of the Caribbean's #1 Sales Development Company, Think Grow Lead. For more insights on sales training, sales recruiting and sales outsourcing please visit TGL's website. http://www.tgltrainers.com/ http://www.tglsalesschool.com or email me your comments at topsalesguruja@gmail.com

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Are organisations now paying the price for not selling value? - Jamaica Observer

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June 19th, 2020 at 1:42 pm

Posted in Sales Training