Value over price: The winning strategy
Upnify Editorial Team - 30 de septiembre, 2023
The goal of selling for value is to provide high-quality products and services that fit your customers needs.
Value selling, on the other hand, has become more popular in recent years. Rather than competing on price, successful businesses are learning to sell on the value they provide to their customers.
The customer's perception of value
One of the key aspects of selling for value is understanding the customer's perception of value. Consumers are willing to pay a higher price for a product or service if they feel they are receiving exceptional value in return. This means that quality, efficiency, and customer satisfaction are critical. Companies that focus on providing real value to their customers can charge premium prices and remain competitive.
When a company focuses on selling for value, customer satisfaction becomes a priority. Customers who are satisfied with their experience are more likely to return and buy again. In addition, customer satisfaction is critical to a company's reputation, as happy customers can become brand advocates and help attract new customers.
Differentiation and customer loyalty
Selling for value also means differentiating yourself from the competition. When customers perceive that a company offers something unique and valuable that they can't find elsewhere, they become more loyal. Customer loyalty is a valuable asset in any industry, as loyal customers not only buy repeatedly but also recommend the company to others.
A key part of a value-selling strategy is to educate rather than simply sell. Companies can build strong relationships with customers by providing valuable information about how their product or service can meet their needs and solve their problems. This not only builds trust but also helps customers make informed decisions.
Price vs. value: the right balance
It is important to note that selling at value does not mean ignoring price altogether. Price is still an important factor in customers' purchasing decisions. However, selling for value involves striking the right balance between price and value. This means that while it is possible to charge higher prices for high-quality products or services, those prices must be supported by real value and a satisfying customer experience.
Examples of success in value-based selling
Several companies have been successful in adopting the strategy of selling by value rather than price. Apple is a prime example. Over the years, Apple has built a loyal customer base by focusing on innovation, quality, and user experience. Although their products are often priced higher than the competition, the perceived value they offer has led to consistent sales and a devoted customer base.
Another example is the Starbucks coffee chain. While Starbucks coffee is often more expensive than other chains, the company has created an environment and experience that its customers value. Starbucks not only sells coffee but also a social experience and a comfortable environment in which to work or relax.
Ultimately, selling on value rather than price is a winning strategy in the business world. By focusing on customer satisfaction, differentiation, and delivering real value, companies can build strong and lasting relationships with their customers. In the long run, companies can charge premium prices if they focus on value instead of price.
Learn more about this and other topics in our podcast La Receta Secreta: https://upnify.com/es/videopodcast-la-receta-secreta.html
Upnify´s Editorial Team; formed by professionals and experts in Marketing, Sales, Communication, Design and other areas. They share their experience through articles enriching the commercial culture.