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7 Aug 2014

Add Value in 21 Ways When Your Price is Higher

If you are now selling base on price, do not read further. We teach people how to sell on value, not price.  Sell the sizzle, not the steak, and you can close every sale and sell ice to the Eskimos.  

Even if your selling price is higher than your competitors, you will still be able to sell if you know how to add value to the customer.  There are 21 ways to add value:
  1. Better Service - comes in many forms including delivery, convenience, internet assistance, telephone answering, administration support, longer operating hours, and customer service
  2. Better Technical Support
  3. Longer Credit Terms or Higher Credit Limit
  4. Unique packaging or limited edition versions that add value to your product or service
  5. Salesperson Serving the Customer - fast prompt response, entertainment, listening, patience, problem solving, courteous service and go extra mile service
  6. Top Management Serving the Customer - imagine if the Prime Minister of Singapore serves you, price is no longer a concern, right?
  7. Offering More Choices in Product/Service
  8. Free Gifts, Free Trials, Free Change-of-Mind Returns
  9. Longer Warranty and Extended Warranty
  10. Novelty factor, like iPhone 6 with a larger screen
  11. Customization of your product 
  12. Better Quality
  13. Let Customer Have the Say, and they will be willing to pay any price!
  14. Strong Financial Support, like what Herbal Life is doing now
  15. Product Differentiation - like Samsung Galaxy K Zoom that offers 10 times optical zoom on a smart phone
  16. Unique Selling Proposition: this goes beyond product differentiation, it is the 'X' factor that you communicate to the market.  The best example is Nike's swosh
  17. Love - yes, the genuine love that everyone needs, including compassion, joy, equanimity and kindness
  18. Pioneer status - be the first in the market and people will pay any price, like what Xiaomi is doing now
  19. Flexibility - letting customer have what they want, as long as they pay the price.  Many high-end resorts and even casinos are doing this
  20. Branding and Name - people are willing to pay thousands of dollars for a bag when $50 will serve the same function
  21. 100% Involvement and Inclusion.  When you involved people not just at the level of body and mind, but also the heart and spirit, you'll get a kind of loyalty and cult status that no one can replace.  
By Andy Ng, Sales Coach and Trainer at AsiaTrainers.com.  Related articles:

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