How to Make Customer Value a Key Sales Strategy
Customer perceived value carries a lot of weight when assessing sales success, considering it involves the weighing of the costs and benefits attached to the services you provide. Sales calls lose purpose without a heightened awareness of customer value–understanding how your services impact the lives of your customers, for better or worse, is vital. If the costs of your service outweigh the financial, physical, and emotional benefits it provides customers, then it’s not getting you the desired results you seek.
By prioritizing customer value metrics, sales teams can create opportunities for artificial intelligence tools to accurately measure and optimize sales value at every prospect interaction, including new buyer stakeholders. Prioritizing customer perceived value as a sales strategy allows leaders to acquire, keep and grow their relationships with customers, making customers immediately realize that they are saving money or receiving some sort of long-term benefit by investing time and money in your services.
Focusing on Customer Value Shows Your Willingness to Be Customer-Centric
Lots of businesses claim that they’re customer-first, but their actions tell a different story. That’s the truth about a lot of marketing efforts. Any truly customer-centric business must find ways to accurately measure and incentivize a customer-centric experience, maximizing customer value and merging it with conversational value to deliver high-quality results.
Delivering real and measurable customer value with every interaction is an indicator of a profitable, customer-first business that doesn’t focus only on money. Customer value, which includes the subtracting of tangible and intangible costs from the total benefits a service provides, contributes directly to the customer experience (CX). More than two-thirds of businesses compete based on the customer experience, while 95% of businesses emphasize customer experience roles within sales teams. Maximizing CX only happens when sales professionals improve the quality of conversations, both among themselves when meeting about their strategies and in their meeting with customers when negotiating a service.
Customer Value Should Be a Strategic Focus Throughout a Business
Customer perceived value metrics should reverberate throughout different levels of the business, from the C-suite to frontline workers.
The mistake many businesses make is that they only talk about customer value within the context of the largest accounts, focusing on it from a sales perspective rather than from a broader viewpoint. While sales teams are the ones mainly responsible for ensuring that customer value is met, everyone, from executives to those below them should be prioritizing customer value metrics.
That said, there is only one true authority regarding customer value, the customer. To make customer value a strong sales strategy requires building more wholesome relationships with customers, extracting meaningful insights, defining metrics, and consistently measuring progress. Early during sales efforts, teams should create a hypothesis detailing the true benefits and advantages your service provides. And, whenever renewals occur, you should have automated systems in place to better measure the customer-defined metrics and needs they’ve relayed to you.
Be careful not to overmeasure customer value, though. If customers express that specific values are irrelevant and don’t add anything to their experience, then sharing such data with them is irrelevant. Only your customers can fully define what value means to them; you can’t tell them. Though you may have the means to measure customer value, that doesn’t mean you should exhaust all of those means. By having impactful conversations with your customers to understand what value means to them, you can optimize your value proposition and ensure that you’re addressing all of their unique needs.
How Can You Use AI to Measure and Optimize Value?
Artificial intelligence, like all forms of automation, can help businesses to extract more insights and get better takeaways from meetings with customers. With features like automated note-taking and topic trackers, artificial intelligence tools allow you to pick out the most meaningful aspects of your conversations with customers and focus on the finer details to better emphasize the value you’re providing them.
AI users can identify buyer signals during sales calls to get engagements while also enhancing sales value in buyer conversations. Additionally, artificial intelligence tools identify and later extract any mentions of customer value during interactions. Conversational intelligence ensures that sales teams are primarily focused on prioritizing how to maximize the value for consumers based on the insights provided by and preferences of the customer. The more metrics you can identify, the easier it is to approach customers with refined strategies that win their investment, trust, and loyalty.
Versational provides a conversational assistant solution to ensure you reap the improved customer and sales value by focusing on improving your conversational intelligence. Try our product for free today.