March 10th, 2009 | Posted by The 60 Second Communications Team in Marketing That Works
USA Today reports that internet searches that include value words such as “coupons” rose 161% in December vs. 2007 to 19.9 million and “discount” rose 26% to 7.9 million.
Sale – Bags As a result, spending by marketers on such search words is up, too. Google, which controls 60% of the paid search ad market, says ad spending on value-related words such as coupons rose 30% in the fourth quarter over the same period a year earlier.
Kraft foods added “cooking on a budget” and “value” to its search roser. Offers include $1 coupons for Kraft Macaroni & Cheese. Procter & Gamble initiated a campaign whereby a brand search for Crest Whitening Strips will yield a $7 coupon. And Unilever developed a search campaign linking coupon terms with Bertolli’s Oven Bake Meals.
As you’re executing your 2009 marketing campaign, be sure to ask yourself, “Are we highlighting the ‘value’ aspect of our product or service? Are we providing ways for prospects to get a discount? Are we tapping into the emotions of our consumer to help drive sales for our brand?”
By asking these, and other, questions, you can be sure that 2009 will be as successful as possible — given the economic challenges we’re all facing.
Why do I Need to Sell on Value?
What if you have a product or service that you really don’t think you can maintain your necessary margin on if you lower the price substantially. If your products are on par or more expensive than your competitors you are going to have to come up with another strategy to compete for consumer dollars. This is where value selling comes into play. Value Selling gives you the oopportunity to showcase the problems you can solve or needs that can be met by chosing your goods and services. Paul Cherry, Managing Partner & Founder, Performance Based Results, has written a great article on how to successfully use value to get your customers to overcome issues of price.
Check out the article at: http://www.pbresults.com/article_title-value-selling-getting-customers-to-buy-at-higher-price.html
So many times I hear from direct sales consultants that they “feel bad for hitting up family and friends” or find it difficult to sell their products to people based on the “canned scripts” they may have been taught. I say, STOP TRYING TO SELL PEOPLE THINGS THEY DON’T WANT OR NEED! Value Selling and Solution Selling are proven, successful, sales techniques in the B2B market. I use these same techniques in my direct sales business and they should work in any sales situation. The main idea is to understand what value you and/or your products have to offer your customers along with what needs you can meet or issues you can address. Once you know the value of your product you will be in a better position to sell customers what they actually want to buy. With the economy the way it is, there is greater competition for dollars. People know value and they use value to justify their spending. If you don’t build value before you tell them how much it’s going to cost, you’re done.
So you took the first step, you know your products well and you have thought about the value you can provide. Now you need to understand your customers and what they need or what issues they would like to address. The key to gaining this information is to LISTEN to your customer and WATCH their reaction to the value propositions you are giving them. Many sales people fail because they are the sterotypical “pushy salesperson” who gives the same pitch and pushes the full product line to everybody they come across. If you want to build loyal customers who like to buy from you, you need to focus on selling them the products they want at the time they want to buy it.
Let’s use Mary Kay as an example. You have a new customer, young college student, great skin, doesn’t wear a lot of makeup. Sure you could try to sell her the entire Timewise Ultimate Miracle Set or Roll-Up Bag but seriously, do you think she is really going to be interested in an anti-aging microdermabrasion set? Instead try a different approach, rather than jumping into your product pitch ask her some questions. You find out she is very busy, doesn’t like to wear a lot of makeup, spends time at the gym each day and doesn’t have a lot of income. Now you can talk to her about maybe a Timewise basic set with a tinted moisturizer, some mascara and lip gloss to get her out the door each day. She isn’t overwhelmed by the amount of product and price and now you are both on the same page regarding her needs. You can ask about any big events that may be coming up and take the opportunity to book her for a color consultation to help glam her up to help get her ready for the event. Now she has a product set she loves inher price range and more importantly she sees you as a partner and you have built up her trust. Now you have great potential for getting referrals, she had a good experience, she would work with you again, so she will feel more comfortable referring her friends.
So in a nutshell:
1. Know your products
2. Build your value proposition
3. LISTEN and WATCH your customers for what they respond positively to
4. Sell your customers the products they actually want to buy
5. Enjoy your increased sales!
Posted in Mary Kay
Tagged beauty, business, business opportunities, direct sales, glamour, management, Mary Kay, sales, selling, value, value added selling, value selling, wahm, work at home, work from home