In this article we discuss the key roles of both sales and value in the customer journey.
What is sales?
Sales is described as the action of selling something between two parties for money to financially benefit you or your business. Companies have teams of people that are employed solely for selling products / services. These people / teams can have many different titles such as Sales, Business Development etc. and they all have different targets and benchmarks to meet for closing sales. Some of the best ways to close a sale are to ensure that you have qualified your prospect right at the start of the engagement, that you have identified and are speaking with the correct decision-maker, always keep the needs of the customer at the forefront of your conversations, that you are always on top of your communication with them and that you always listen to their opinion and work collaboratively to come to the best outcome / conclusion.
Value, on the other hand, is described as the benefit provided by goods or services. This could be a monetary benefit, material benefit or the assessed worth of a product or service. The value of a product or service is extremely important to a customer and is the main reason they will make a purchase. Explaining the value of a product or service to a potential customer helps them to understand the real reason as to why they may need your item. Explaining the value of your item to a customer also helps to differentiate yourself from your competitors as well as helping you to build real relationships with customers. Ask yourself - if two products cost the same amount, what value does your product give to the customer over your competitor's?
For a more in depth look at value, check out What is Value.
The main difference between sales and value is that sales is the count of sales and the physical number of items sold, where as value is the total sum of the value of the sale and its worth for the customer. When selling a product or service, it’s important to discuss both the price and the value it may bring to the customer together to help go forward with the sale. You can choose to start the conversation by discussing the price of your product or solution however, here at Shark Finesse we like to start with the value discussion first, building a potential benefits pot for your customer to gain their buy-in right from the start of the engagement.
Get in touch today for more information about how Shark can help with sales and value.