Manage episode 226665309 series 2476247
What You’ll Learn from this Episode
- Discover the secrets of customer value
- Learn what to say when a customer says your service is expensive
- Find out how to deal with pricing pressure
Mike Wilkinson is the Value Selling Expert. He works worldwide with clients across a diverse range of industries and business sectors focusing on value and value selling. He has worked in a wide range of senior sales positions and has experience of fast-moving consumer goods as well as business-to-business sales.
In this episode, Mike shares how he helps people find new ways of understanding and communicating value so money is not left on the table and how they can be rewarded for the value they deliver.
"Value is a mystery. Our job as salespeople and as businesses is to solve the value mystery. And the mystery is how our customers define value." - Mike Wilkinson
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01:35 – Mike explains price management is two distinct things. One is the price setting bit, and the other is the price getting bit
04:15 - What is value? Value draws mystery.
09:19 - How do we identify and tackle the challenges that we face in selling our value effectively
09:53 - Seven challenges of value
10:08 - The value triad. Component element of value: value gain, cost reduction, and emotional contribution
14:34 – How to deal with pricing pressure
15:10 - What to say when a client tells you're too expensive
18:22 – Deliver your promise
20:31 – Mike’s one value advice: Your customer defines value not you. And because it’s true, you have to solve the value mystery.
“Value is what a customer willing to pay.” – Mike Wilkinson
“If you have a sales team who cannot sell on the basis of value then the challenge of actually getting the price is that you have set becomes a much bigger challenge.” – Mike Wilkinson
“The value thing comes in when you really understand and appreciate the value that you are delivering to that customer.” – Mike Wilkinson
- Value-Based Pricing: Drive Sales and Boost Your Bottom Line by Creating, Communicating and Capturing Customer Value
- The Challenge of Value
Connect with Mike Wilkinson:
Connect with Mark Stiving