Sales are greatly dependent on ROI and when it comes find the ROI of your product, most people like to focus on the numbers with data. As a salesperson, you might like to bring real data into your pitch and close deals based on the perceived value that is fixed early on. While pushing value into the pitch can help to close more deals; there is a similar model of solution-based selling that is utilized by many.
So, how does it differ from a regular model of value-based selling? Is it any better than the regular sales process? Let’s find out.
What is Value Selling?
This is a sales technique that includes challenges, roadblocks, and certain goals that help to project measurable value that a prospect sees while purchasing a product. Focusing on reals numbers, this sale process utilizes average ROI from focuses on improving that by using the product. This is what determines that product is worth a price tag. In this world of SaaS selling, it can get a little daunting to justify a higher price tag when other companies and competitors are offering that at a lesser cost. Value selling can be very helpful in this case that allows for explaining real value prospects.
What is Solution Selling?
Solution selling is more focused on the outcome based on the usage and usability of the product and its capability to bring a change in the market. Other measurable numerical values, also consist of non-measurable results of achieving a goal and offering more motivation. This particular sales technique focuses on the root cause of the problem and thrives to offer the perfect solution for the problem through the product.
Comparison: Value Selling vs. Solution Selling
While these selling models look similar, there are some distinctively different features between these two commonly used selling processes. Although both sales technique focuses on the prospect more than the product, there is a difference in the practices and process.
1. Qualify
The qualification stage is for both value sellers and solution seller where are inquiries prospect with a lot of good question that helps to come up with an effective impactful pitch. Here are questions to start with,
• Tell me more about your process for
• Can you give me an example of
• Can you walk me through how your team handles
These certain kinds of open-end questions help to determine the true needs and root causes behind the problem that helps present better value for the solution.
2. Pitch
It’s the pitch where two sales processes take different paths.
For value sellers – A sales pitch in this case includes the real-world value of the product and highly focuses on the expenditure behind the solution. The pitch offers solutions that can improve the number once implemented.
For solution seller – The solution seller will dig more into the results of the product and present a pitch based on the information gathered in the qualification stage. These kinds of sellers tend to focus on more job satisfaction, team morale, and other non-measurable results.
3. Negotiation and Closing of Sale
Negotiation is the final act that follows the closing of the deal or not. Each model has a different way to deal with the issue,
For value sellers – Focusing more on ROI than the price tag, value sellers are hard negotiators and they can rock-solid social proof that is relevant to the prospect and can convince people to buy.
For solution sellers – Solution sellers are more willing to make compromises and make certain changes to keep the customers happy. They work as advocates and advisors to offer better business solutions.
Bottom Line
Even after a comparative discussion, it can’t be said clearly whether value sellers are more successful or solution sellers as both techniques come with their own set of pros and cons. So, instead of following some rules, find out what your personal sales style is and work on that!
