4 Important Categories of Customer Value
The days of traditional marketing and advertising have changed. The goal for sales teams used to be focusing on funnels and high turnover rates with successful sales, but recent studies are showing an entirely new approach with the ability to increase any business’ bottom line.
This new approach focuses on customer value, which creates a more in-depth relationship between the consumer, the product or service, and the brand that provides it to the public. There are four primary categories behind this method of sales, all of which can help your sales teams thrive.
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Functional
The first value category is the functionality of the product or service itself. As always, customers will only find value in products that are functional in their lives. This is where traditional sales methods meet the new age, combining sales know-how with modern value management tools.
To begin building value, you have to show potential customers what value your product can add to their lives. Does it make a task easier, save time, or eliminate an inconvenience? Pitching your product’s value is an excellent start, but there’s more you can do to show value to the customer.
As your sales reps speak with prospects, have them engage the potential customer in friendly conversation to better identify where your product plugs into daily, weekly, or even monthly life. Now you’re building individual value that drives higher sales.
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Emotional
While discovering that functionality, it’s vital to remember that emotion drives sales. How your product, service, or even brand makes a customer feel is a vital component to the value model. This can manifest in various ways, ranging from how a service leaves the customer feeling to an emotional connection with your brand’s environmental or societal stances.
Another critical aspect to emotion is how an interaction with a sales rep or customer service agent leaves a customer feeling. You want to make sure that each interaction with your brand, whether in-person or online, is a positive one.
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Life-Changing
Speaking of emotion, the words “life-changing” tend to rank pretty high on the scale. This relates back to functionality, but it’s vital that your sales reps learn how the product or service they’re pitching could fully change a customer’s life.
The only way to address such a personal approach to sales is to speak with each customer. Don’t focus on the number of calls in an hour, focus on allowing the potential customer to uncover vital information to your sales force through conversation. Then, let your sales professionals do what they do best.
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Social Impact
Finally, there’s social impact. Customers tend to respond well during sales initiatives that donate a portion of their proceeds to worthwhile causes, for instance. What does your brand do to create a positive social impact?
Fair-trade, environmental, and positive societal efforts are all quickly recognized by the modern consumer. If your company isn’t participating in anything like that, then it might be time to place your foot in the ring and leverage social media to let everyone know about it.
