Skip to main content

Moving From Relationship To Value-based Selling

value strategy sales

richardsonsalestraining16 July 2018Blog

Share on LinkedInShare on TwitterShare on Facebook

If your organisation has traditionally relied on relationships in order to sell and it’s not working for you as well as it used to, we have an idea on how to improve.

At a meeting with a number of sales leaders from industrial manufacturing companies talking about 3 key issues:

  1. longer sales cycles
  2. increased competition
  3. lower win rates

What's Going On?

We talked about why this is happening. What they told me was that their regional sellers have invested a lot of time – we’re talking years­ – into building relationships with one or two buyers in the local plants and manufacturing facilities.

However, the sales world has changed. Many of the buying decisions that used to be made at the local plant are now centralised at corporate. And because they are centralised, the buying process is also now more formal. RFPs are being issued more consistently as commonplace.

Another factor is that many of the contacts at the local plants are reaching retirement age. So, the people that sellers have built strong relationships with are no longer around.

They’ve relied so much on relationship selling but those relationships are changing, and the resulting impact is struggling sales performance.

Build Value-Based Relationships

Now, is relationship selling a bad thing? No, not at all! People buy from people whom they like and trust. But what companies, specifically these organisations, needed to start doing was developing value-based relationships.

To build value-based relationships, you primarily do two things.

  1. Understand the account and the relationships you need to have. Understand the entire account, not just the local plant. Build an account plan that identifies the company’s strategic objectives and the key executives responsible for executing that strategy. These are the people that you need to build relationships with.
  2. Quantify the value that your organisation’s products, services, and solutions have already brought to the customer. It’s proven – sellers who quantify the value of their solutions have greater success with gaining access to those executive-level contacts.
Share on LinkedInShare on TwitterShare on Facebook
agile sales training

White Paper: The Future of Selling is Agile: Introducing Sprint Selling

Learn about a new sales methodology that defines critical actions and skills needed to win deals.

Download

Resources You Might Be Interested In

Article: How to Cut a Deal Loose: Walking Away from Low Quality Opportunities

Learn how to qualify out poor-quality opportunities and identify pursuits that are most worthy of a seller's time.

Article

Brief: Sales Tech Stack Chaos & How to Avoid It

Learn about Richardson's simple framework for building a tech stack that works for your sales organization.

Article

graphic with the name selling challenges research study

2024 Selling Challenges Research Study

After gathering information from over 1,000 sales professionals, sales leaders, and sales enablement professionals, Richardson presents these findings and the specific actions needed to overcome them.

Research

Solutions You Might Be Interested In