If you Google “technical sales tips”, hundreds of results will come out. From improving presentation skills, to identifying key people, to the proper way of asking questions. The recommended sales skills of a technical sales engineer will also be a significant part of the results. The list can go on and on. For this article, we will focus on one crucial part of technical sales training – value-based selling.
Imagine you’re on a long road trip and you’re currently in the middle of nowhere. No stores and no restaurants anywhere nearby. Even Waze says that nothing is coming up anytime soon. We forgot to mention that you’re starving and you forgot to drink coffee this morning. After a few miles, you see a gas station coming up. You enter the store and buy a canned coffee for $3.50 and a sad-looking sandwich for $7.00. You know it’s much more expensive than what you normally would spend, but you easily take out your wallet and hand over your money to the cashier.
You might be asking what a coffee and sandwich has to do with technical sales. The situation above is a good example of when value exceeds price. When this happens an exchange happens. It could be a monetary exchange or an exchange of attention. In the example above, your time and convenience had more value than $10.50 plus tax. There are certain conditions that made this true during the time that it happened. If you were in your own neighborhood and you had a go-to spot for coffee and sandwiches, you probably wouldn’t think of spending the same amount of money.
Now, how does this apply to technical sales?
When you try to deliver value instead of the cheapest products, it’s called value-based selling. Instead of focusing on giving your customer the lowest price, you focus on giving the most value. Value-based selling should always be on your mind in technical sales. The fact that value should always exceed price remains true in any situation, sales or not.
Try to remember – have you been beaten by price? If you’re a technical sales engineer, we’re sure this is something you’ve experienced at least once in your career. This is when your potential customer decides to go with someone else based on price alone.
There are customers, in technical sales or any other kind of sales for that matter, that only look at price. These are price shoppers and that’s never going to change. Whatever price you offer, they’re going to look for something cheaper. They find more value in getting the cheapest price, rather than the actual value the product or service delivers.
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To read the full article, please click here: https://technicalsalesu.com/technical-training-and-tips-value-based-selling/
Also check out 4 Top LinkedIn Networking Strategies for Mastering Technical Sales to learn more about how to master LinkedIn to land sales.
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