How to Maximize Your Value-Added Selling Strategies for While Under Global Competition

Value-added selling has taken off in recent years as growing global competition has forced many businesses to separate their products from an international competitor's. Increasingly, consumers view products and services as commodities and finding new ways to sell your products or services in a way that promotes their unique value is crucial. Without any value-adding components to a product or service, consumers will more often than not use price as the primary deciding factor.

Companies can overcome this by offering their products at the lowest price possible, but it isn’t a sustainable practice. To grow in a crowded international marketplace, companies must shoot for high margin sales that generate profits, driving their long-term growth initiatives.

You might practice various value-added selling strategies already, but to truly compete and maximize your annual growth, you should consistently seek out new opportunities and tactics.

The Process for Value-Added Selling

To succeed at value-added selling, your consumers must first understand the complexity of their needs. Also, they must feel motivated to act upon these needs through a purchase and accept the value that a seller's solution presents.

The salesperson’s job is to penetrate the decision process early on to define and sell the unique value that their product provides. By shifting the focus of the sales conversation away from price and towards the value that your products or services provide, you can minimize certain risks in the selling process. For example, instead of haggling over price or seeking discounts, the consumer will instead choose a product because of the benefits it provides to them, rather than how much it costs.

Value-added selling works because it shows consumers factors they had not previously considered, and takes into consideration the needs and wants of the consumer, which ultimately affects their purchasing decisions.

Value-Added Selling Strategies

Expert Advice

Medical professionals, financial advisors, and other specialists make their money by providing expert advice that consumers can’t find elsewhere. The same can be said for any product or service. If your salespeople can stay up to date on the latest industry best practices and position themselves as experts in the field, they can provide a value that consumers can’t find from your global competitors.

Loyalty Programs

The goal for any business isn't to sell to a customer once and then never hear from them again; the goal is to keep them coming back every time they need a solution! One of the best value-added selling tactics is to encourage customers to return by offering special services, discounts, and more. This incentivizes them to choose your brand over a competitor, and they will feel an attachment to your product and services.

Education

Whenever a new customer joins your organization, depending on the services you offer, you can provide them with transition help and education, so they know how to use your services or products to their best advantage. Customers respond well to these services and grow more attached to a brand that has their best interest in mind.

Guarantees

If you want to differentiate yourself from competitors, you should emphasize the speed and quality of your services by providing a guarantee. Guarantee that customers will receive their products within a certain time frame or guarantee that they’ll last for a particular period. Whatever it is, show that you stand behind the quality of your products or services.