Know the Importance of Value
After completing this unit, you’ll be able to:
- Define value selling.
- Describe the benefits of value selling.
- Identify the four steps to value selling.
Low Prices ≠ More Customers
At Salesforce, everything we do starts with our customers. So why would our sales approach be any different?
Value selling is a sales approach we use to focus on the impact we have on our customers’ businesses. Instead of pushing lists of features that may or may not be relevant to them, we deliver real value to our customers based on their unique needs and goals.
This approach not only improves close rates, but also decreases sales cycles and reduces pricing pressures, which is a huge challenge for many sales teams today.
A Competition Against Checkboxes
When it comes to selling tactics, many businesses want your customers to think that as long as they get enough features at a low price, spending a premium on Salesforce isn’t worth it. You also hear about businesses that build a homegrown solution with the hopes of saving money, or those that choose to do nothing at all.
How do you compete on value when the competition bombards your customer with feature checkboxes and price lists? It’s pretty simple: Keep your customer focused on how Salesforce helps them reach their business goals, and why our competition can’t.
The Four-Step Process
There are four steps to value selling.
- Do your discovery: Get to know your customer.
- Build a value hypothesis: Turn your customer’s pains into gains with Salesforce solutions.
- Create a cost-benefit analysis: Show how the benefits of an investment in Salesforce outweigh the costs.
- Build your business case: Bring it all together in executive-ready form, built around a value map.
We talk about each of these four steps in this module. However, as a Salesforce partner, your focus is on steps one and two. For steps three and four, work directly with your Salesforce account executive (AE) to create a cost-benefit analysis and business case.
Start with Discovery
To see how this works firsthand, let’s follow Grayson, a Salesforce partner, as he goes through the first half of the value selling process.
As a Salesforce partner, Grayson begins by discovering more about his customer, Bloom Decor. Through research, he discovers that some of Bloom Decor's employees are skeptical about customer relationship management (CRM) strategies because their last CRM implementation failed.
During an initial meeting with Gemma in Bloom Decor’s sales center, Grayson learns about the day-to-day pains that sunk the first CRM go-round. Here’s how that conversation went.
Grayson: “I’m wondering what didn’t work so well in your first CRM implementation. I’d also like to talk about Bloom Decor’s strategy, given the current trends in your industry. How does technology fit into your overall strategy for staying competitive in a consolidating industry?"
Gemma: “My sales reps are always on the go, and the old system was terrible on mobile. I can tell you all about that, but my manager knows more about the long-range strategy that kept us looking at CRMs. Let me ask her to speak with you.”
Grayson just got one step closer to the people making the big decisions at Bloom Decor. It may not always be quite that easy to move up a rung on your customer’s org chart, but you get the idea. When you ask insightful questions backed by strong research and an industry point of view, you learn more about your customer, faster. The answers to those questions also lead you to the decision makers who can green-light an investment in Salesforce.
To learn how to uncover more insights about your customers, be sure to check out the Customer-Centric Discovery for Partners module on Trailhead.
Grayson’s next step is to identify the best Salesforce solutions to solve Bloom Decor’s problems. We call that creating a value hypothesis.
Some of the resources suggested in this unit are accessible to Salesforce Partner Community members only.