Mike Wilkinson – The Seven Challenges of Value

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By Mark Stiving, Ph.D. | Pricing Expert, Mark Stiving, and Ph.D. | Pricing Expert. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

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

Summary

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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Announcement:

If you want to address the Seven Challenges of Value to take you from an understanding value at the beginning of delivering value to the end. Get a 20% discount to The Value Challenge System

Register here: http://bit.ly/TheValueChallengeSystem

Coupon: Impact

Topics Covered:

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.

Key Takeaways:

“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

Resources:

Connect with Mike Wilkinson:

Connect with Mark Stiving

41 episodes