Have you developed a value mindset?

Today we’re hopping in the time machine and taking a look at arguably the most groundbreaking sales book in history. But first, let’s break out beakers and test tubes and dissect what it takes for sellers to engineer a value mindset 👨‍🔬

In Today’s Jam

  • The Sales Lab: Shrink the Value Differential

  • Weekly Poll: Price vs Value 

  • Sales Q&A: Everyone is telling me tech sales is amazing. Is it true?

  • The Importance of a Value Selling Framework

  • Sales Scene of the Week

The Sales Lab🔬: Shrink the Value Differential

If you’re familiar with Tony Robbins, you might also be familiar with the phrase: “Where focus goes, energy flows”. It’s a powerful saying, even more so when you apply it to sales. 

But what does it mean?

Victor Antonio compares it to when you’ve recently purchased a yellow car. Now everywhere you look yellow cars are flooding the street.

Before this purchase, you somehow didn’t notice these vehicles. But now that you’ve purchased your own yellow vehicle, these things seem to be falling out of the sky. 

What’s the deal?

Where focus goes, energy flows. You put your focus on that particular car and eventually, that car flooded your reality.

In sales, some sellers focus on price. And others focus on value. What do you think happens when you focus on the latter? 

A mental hack for selling on value

Selling on value can be tricky especially when your competitors are selling a similar product for $700,000 while yours is priced up to a million. The key is to not think of it as selling them on a million-dollar product but instead, zero in on the difference – $300,000.

The prospect is already comfortable spending $700,000, you must now show them the other $300,000 is worth it.

“Lean into the objection” 

Grant Cardone is famous for saying a lot of things but one of his most powerful (and effective) bits of advice is to not shy away from a prospect’s objection.

What does this look like?

If a prospect says your product is ‘expensive’, agree with them. If they think your software is ‘complicated’, tell them they’re right. Then explain to them why that is, and more importantly why that’s the reason they need it.

But What Does Value Look Like?

It’s only natural that you and your competitors are going to have things in common. Your competitor may offer 5 things that are identical to your company’s offerings.

The chances of it all being completely the same are pretty slim.

So, what are the one or two things that make you unique compared to your competition?

Figure that out because that right there is your value proposition and the key to separating yourself from your competitor.

In other words that’s the thing or things that will shrink the value differential and take you closer to selling a prospect on that $300,000. 

Ten years ago, Victor Antonio was made Vice President of Latin America for a company selling technology equipment in the region.

The prospect was attracted to his competitor’s price of $700,000 compared to his $1m.

However, the prospect required local tech support for the solution they were interested in. They also wanted replacement parts to be locally available so they didn’t have to ship them in. Antonio’s competitors provided neither of those things, but he did!

A lesson in VALUE

The main takeaway from Antonio’s presentation comes from a meeting he had with his superior while he was settling into his new role.

His manager asked “What can I do to support you to hit your revenue goal?” to which Antonio foolishly replied, “If I could get better pricing, I know I can sell more”.

His manager’s response was game-changing stuff:

“If the only way to grow the business is to lower our price, why don’t I do this: fire you, fire our sales team, close all the offices and just send the customer a brochure with a discounted price. I think that would be cheaper.”

Translation: “We don’t sell on price. We sell on VALUE.”

Do you currently sell on price as opposed to value? How is that working out for you? (genuine question)

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Sales Q&A

Everyone is telling me tech sales is amazing. Is that true?

It’s Time For That Dream Sales Job…💼

Looking for a new job opportunity in Sales? Search for the latest and greatest jobs here.

Looking to hire someone with great Sales experience? Post your job on The Sales Jam Job Board, here.

Game Changers of the week🔥

11 Best Sales Call Script Templates

Cold calling can be a nightmare for sales reps. The secret is to be prepared and to rely on trusted formulas, not call up random prospects and chat away about your product’s ‘incredible features’ and, of course, you’re unbeatable price. Here are 11 sales call script templates that’ll have you cold calling like a boss. 

The Importance Of A Value Selling Framework

It’s one thing to smack a value proposition into your pitch deck and blabber about how much ‘value’ you’re offering prospects. If an actual framework is missing, chances are you aren’t inspiring buyer confidence – in other words, you’re not closing. Find out why. 

Building A Top-Down Sales Strategy While Maintaining A Bottoms-Up Approach

Leena Joshi is co-founder & CEO of CloseFactor, a GTM strategy and execution platform that helps sales and marketing teams be contextually relevant to prospective customers and boost conversions. She stops by the GTM Podcast to help sellers like you understand the differences in go-to-market motions across different stages of organizations, how selling value is a tactic that does wonders for her company and tons more. 

Listen on: Apple Podcast | Spotify

Mark Hanan’s Groundbreaking ‘Consultative Selling’

Sales Scene of the Week🎬

Don’t do this at your day job…

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