Modern times demand modern problems which in turn demand modern solutions, as well. Today’s sales professionals and leaders face the challenging task of not only meeting customer expectations but also surpassing them by creating tangible value.
Customers are no longer looking for just products or services. They can acquire those from any business they come across. What they seek is solutions that address their specific needs and pain points. This can be provided only by specific companies that almost become soulmates for customers.
Only companies driven by specific solutions can offer real, measurable value to their customers. So, how can you as a sales professional align your selling skills with this approach? Let us find out.
In this article, you will read about
Understanding Customer Needs
To create tangible value for customers, sales professionals and leaders must start by gaining a deeper understanding of their customers’ needs, challenges, and goals. This goes beyond surface-level inquiries and requires active listening and empathy.
Consider a software sales professional selling project management software. Instead of just pitching the product’s features, they take the time to understand the customer’s project management pain points. They ask probing questions to uncover specific challenges like resource allocation, task tracking, and communication gaps.
Once customer needs are identified, the next step is to tailor solutions that directly address those needs. This may involve customizing products or services or bundling them with complementary offerings.
In the case of the software sales professional, after understanding the customer’s pain points, they propose a tailored software package. This package includes modules for resource management, task tracking, and real-time collaboration. This personalized solution directly aligns with the customer’s needs.
Providing Expert Guidance
Sales professionals and leaders should position themselves as trusted advisors rather than just salespeople. They offer their expertise to guide customers in making informed decisions that benefit their business.
For example, consider the role of your financial advisor. Would you continue to invest in them if they simply sell investment products? You would want to continue trusting and working with them only when they take on the role of a financial consultant.
This means they take the time to thoroughly analyze a client’s financial situation, risk tolerance, and long-term goals. Based on this analysis, they recommend an investment strategy that aligns with the client’s objectives.
One of the most effective ways to create tangible value is by demonstrating the return on investment (ROI) that customers can expect from the products or services being offered.
As Mr. Venkataraman Subramanyan, the Board Member & Director for Sales Effectiveness and Execution Excellence at Tripura Multinational stated,
“Your customer is going to go ahead and pay you money. When they give you money, they expect a return in monetary terms. You will have to start talking in tangible, measurable, and monetizable terms. How do you create value? What is the customer’s monetization of their investment with you? What happens is we are satisfied with the qualitative elements of what the customers tell us or the movements or progress they have made. What we need to focus on is the quantitative aspects of value creation.”
Taking the example of your financial advisor, consider how they demonstrate how investing in their advanced strategies can result in increased financial stability, improved risk appetite, and significant cost savings over time. The customer can clearly see the financial benefits of the purchase.
Delivering Exceptional Customer Service
The customer journey doesn’t end with the sale. Sales professionals and leaders should prioritize ongoing customer support and service to ensure customers continue to derive value from their purchase.
For example, a sales leader in the telecommunications industry ensures that their team offers 24/7 customer support for business clients. When a client encounters an issue with their communication services, they can reach out to the support team for immediate assistance.
This commitment to customer service reinforces the value of the company’s telecom services. Creating tangible value extends beyond individual transactions. Sales professionals and leaders should focus on building long-term, mutually beneficial relationships with their customers.
Sales professionals and leaders should constantly seek feedback from customers and use it to drive product/service improvements. This proactive approach demonstrates a commitment to enhancing value.
For example, Mrinal, an automotive sales leader, actively collects feedback from customers regarding the performance and features of his vehicles. He uses this feedback to influence product development, resulting in cars that better meet customer expectations.
Furthermore, incorporating technology can enhance the value proposition. Sales professionals and leaders should explore digital tools and platforms that can streamline processes, improve communication, and offer innovative solutions.
Mrinal often utilizes virtual reality (VR) technology to offer virtual automobile tours to potential buyers. This technology allows clients to explore cars and their features remotely, saving time and providing a unique experience. This was the first of its kind innovation at Mrinal’s company.
While most customers were familiar with virtual property tours, not many knew car tours existed. A lot of customers began to visit Mrinal’s automobile business just to witness this new advancement in technology.
Creating Value-Added Packages
Sales professionals and leaders can bundle additional services or benefits with their core offerings to provide extra value.
For example, an airline sales leader offers a premium travel package that includes not only the flight but also priority boarding, access to airport lounges, and complimentary in-flight meals. The package enhances the overall travel experience for customers.
Additionally, addressing environmental and social concerns can be a source of added value for customers. The same airline sales leader emphasizes the company’s commitment to sustainability. They share information about eco-friendly practices during their flights, efforts made toward recycling, and fair labor practices.
This makes the company’s morals align with the values of environmentally-conscious customers. It ensures that the solutions offered can scale with the customer’s growth and evolving needs.
Creating tangible value for sales customers requires a holistic approach that begins with a deep understanding of customer needs. It extends throughout the entire customer journey and indicates that sales leaders care more about the customer than just making a sale.
The true monetary value of a product of service is often not even related to the product or service in question. In today’s landscape, value goes beyond the service itself; it encompasses the overall experience and support provided.
By embracing the strategies mentioned and focusing on both quality and quantity as Mr. Venkataraman suggested, sales professionals and leaders can not only meet but also exceed customer expectations. This ultimately drives success for both the company’s customers and their organizations.
To know more about how you can create value for your sales customers, contact us.