How Adding Value To Your Sales Process Will Increase Your Profit Margin

26 Jan 2016
Doug Dvorak
adding-value

Everyone is in the lean and mean mode these days which means selling can be a real chore. Offering better prices can’t be the only solution to increase sales, because it might increase sales but it will eat into your profit margin. So what is a poor sales manager to do? Adding value to your sales process will increase your profit margin.

 

Avoid False Hope

Don’t turn to a value added offer that is actually a load of hooey. You have to provide true value to your customer, not a token LED light to see their way to the car that’s going to burn a whole in their coat pocket. Offer VALUE. It is the main point of what you are doing.

 

Think Cheap, But Not Worthless

Okay we’ve mentioned being lean so when you think of ways to add value to the customer you can’t come up with ideas that will cost you more money. Think of what you have to offer at a reasonable price. Consult, provide a lunch and learn, enhance your tech support time line, improve your guarantee or even offer free delivery. Look for things that customers will appreciate but that won’t eat into profit margins.

 

Stay Within Your Own Biz

Don’t make the mistake of confusing the customer with a free movie pass when you sell fertilizer. Look for ideas that will enhance your current service or product. Do not blur the lines and mess with your brand’s integrity.

 

Help your Customer: Solve a Problem

In the most effective fashion of good salesmanship see if there is a way you can solve a problem for customers without costing you too much money. Look for pain points that might be shared by all of your customers or get real detailed and solve a problem specific to each customer. Don’t be afraid to ask, “What do I have to do to put you in this car today?” It sounds like an annoying cliché, but what if the answer is simpler than you thought? If they ask for the world you can always say no, but if they shock you by asking for something manageable like you taking them for a drive when they pick up the car to show them how everything works, well that is surely doable.

 

Another Great Read on How to Add Value to Your Sales Process by Solving Client Problems: 

Stop Pitching & Start Solving Client Problems

 

URB

Doug Dvorak believes adding value whenever possible goes a long way. He is a sales coach and trainer, and motivational keynote speaker. Visit http://dougdvorak.com for information.

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