How Salespeople Try but Fail to Sell Value

Most salespeople attempt to sell value.  That’s a fact supported by Objective Management Group’s (OMG) data which shows this to be true with 62% of the 2.4 million salespeople who have been assessed by OMG.

A fair percentage of salespeople don’t have the Sales DNA to support selling value.  According to OMG, 68% of salespeople have a high tolerance for money where the amount they determine to be “a lot” is not so low as to interfere with their ability to sell effectively. Next is the issue of comfort.  OMG’s data shows that only 44% of all salespeople are comfortable discussing finances.  The third strand of Sales DNA to affect selling value is whether the very salespeople in question look for the lowest price when they make purchases, like 15% of salespeople do.

Sales DNA isn’t the only thing required for salespeople to effectively sell value.  Value does not exist on an island, and it must be supported by a sales process that supports

A consultative approach to selling. The majority of salespeople have and follow a process; but all too frequently their process is not compatible with a consultative approach. OMG’s data shows that only 14% of all salespeople are strong in the Consultative Seller core competency.

Finally, salespeople must be selling to decision makers.  When salespeople fail to uncover compelling reasons to buy and/or create urgency, a prospect with no authority lacks the incentive to encourage decision makers to engage or approve their budget. 

What can salespeople do when they attempt to sell value, but lack the Sales DNA, appropriate process, or consultative approach to succeed?

Most salespeople turn to price.  They believe that pricing is the lever they can pull to get additional engagement. However, the minute they turn to pricie as an incentive to buy, the value they may have built is effectively neutralized. When they offer discounts, value is further eroded and while they may not have intended for this to happen, the buying conversation changes from one of value to a price-based conversation.  Even worse, their sales cycle continues, but without forward progress, still not having uncovered a compelling reason to buy or the urgency to get a decision maker involved.

This describes most opportunities in most sales pipelines that stall or become losses because they were based on price and a transactional conversation, rather than a needs-based solution and value.