6 Strategies to Make The Experience Economy Work for You
Posted April 15, 2013 by Ryan Estis in Sales
We all know the economy is constantly changing. And when our customers change how they buy, we better change how we approach selling. Here are six strategies to help you sell value in the new economy – and make the “experience economy” work for you.
Be Rock Star Good: If you want to drive performance and growth, you have to differentiate your services and elevate the perception associated with who you are and what you do. There are a lot of salespeople out there who sell what you sell. How will you stand out? Determine your unique strengths and market them.
What vs. How: Rock star performers understand the difference between what they do and how they do it. It’s the how that elevates the customer experience. Ask yourself, how are you going to sell? How was I helpful today? How did I add value today? How will I be remembered by the people that I worked with?
Be a Challenger: Have the confidence, based on your expertise and insight, to challenge your customers to make decisions you know are in their own best interest. Challengers offer the customer a unique perspective, possess strong two-way communication skills, know an individual customer’s value drivers, are comfortable discussing money in terms of value rather than discounts, and can gently pressure the customer without jeopardizing the relationship. Being a challenger puts you in control of your business and positions you as a trusted adviser.
Price vs. Value: Instead of focusing on being successful, concentrate on how you can help people. Educate consumers as to why there is little or no risk in purchasing from you and foster the relationship so that the client likes you, believes in you and trusts in you. To communicate what sets your company apart, consider your value proposition – the set of reasons why somebody should buy from you and utilize your service. Position value in terms of the customer outcome.
Create Brand Evangelists: Satisfied customers are no longer enough. Your brand and value proposition are developed based on what customers are saying about you. Deliver experiences people won’t forget and you will earn loyalty, which increasingly translates into evangelism. Today, with social media, your customers are more inclined to share their experience and influence future customers. Your reputation travels quickly through word of mouth and can impact your business in a meaningful way.
Practice Buyology: Delve into the psychology of commitment to your brand. Understand why your customers buy what you sell, and more importantly why they buy from you. And if you do not know the answer, ask your customers. Sit down with your best customers and ask them these simple questions. You will learn about what customers want today and in the future, guiding the growth of your most important customer relationships.
In the video below, I emphasize these ideas and underscore why selling value is so important given the complex and competitive sales environment we are navigating today.
About The Author
Ryan Estis is a Keynote Speaker & Management Consultant blogging about business performance.
Speaking Preview Video
Subscribe to the Blog
- Do Customers Respond To Your Email Pitch?
- How to Get the Most Out of Feedback
- Managing Mystique: How Ritz-Carlton Delivers Amazing Customer Service
- How to Shorten the Sales Cycle
- 9 Leadership Lessons from the Best Boss I Ever Had
- Blowing Up the Performance Review: Interview with Adobe’s Donna Morris
- This Is What Happened When I Completely Changed My Approach to Sales
- Business Can Turn On A Dime
- The Transition from Top Producer to Sales Leader
- 5 Keys to More Persuasive Communication