Value-Based Selling 101 with Sumit Mahajan, #196
With the pace of how we sell rapidly changing, the modern seller must perfect a host of strategies to meet the modern buyer on the platforms they frequent, with the right messages.
Using unique sales strategies like value-based selling is quickly becoming a hot topic among the top sales leaders.
The art of value-based B2B selling revolves around getting your prospect to understand the value of what you’re offering – which takes a very different approach than traditional selling.
But, how should sales teams navigate the world of value-based selling when there are multiple personas? That is the topic of discussion in this episode of the Modern Selling Podcast.
My special guest for this episode is one of the world’s leading sales practitioners who has spent decades studying what works to attract, nurture, and close global deals – even in the most complex selling environments.
That’s why this episode is a must-listen for all sales leaders looking for a competitive edge in selling in 2022.
Sumit Mahajan, Chief Sales Officer of Datamatics, brings more than 25 years of industry experience in successfully leading global sales organizations to rapid levels of growth. His eclectic background, starting his career as an engineer, gives him a unique view of sales that has enabled him to lead Datamatics Business Solutions to continue to expand and deepen their industry offerings. Sumit’s passion for client success, together with his pragmatic and strategic perspective, has driven his global sales teams to focus on how to personalize their sales techniques to master the art of value-based selling.
Join in the full hour-long conversation to get what could be equivalent to an accelerated MBA in sales by one of the most brilliant minds in the sales industry.In today’s hypercompetitive #market, mastering the art of value-based #selling starts w/ how you build relationships w/ your #buyer personas. Learn how to do it 💡 on this ep of @GoModernSelling with Sumit Mahajan @datamaticsbpm Click To Tweet
What are the Steps of Value-based Selling?
To set the context for our discussion, I wanted to hear from Sumit how he defines value-based selling and what keys to success he teaches his sales teams to attract and engage with today’s modern buyers.
His insights are spot on when he says, “On the services side, especially, when you’re not selling a tangible thing, value-based pricing and selling is all about making sure that you’re able to get the client to understand the value of your offering. To do this requires sellers to take a very different approach. You must change the way you pitch and the way you land sales.”
With our PVC Sales Methodology for prospecting, at Vengreso, we teach the importance of personalizing your sales outreach for every buyer interaction. This is critical if you have very different buyer personas that you engage with and at different times in the sales cycle.
Sumit agrees and with his work at Datamatics, they often have to navigate up to four different buyer personas with different buying needs, ranging from the lead generation side, to interfacing with accounting executives, all the way up to the Chief Operating Officer.
To navigate this process, by driving value for each persona, Sumit recommends using a three-step approach that involves:
- Generating product and brand awareness through email marketing
- Leveraging thought leadership or gated content to nurture leads
- Using proven sales and relationship building strategies to book the sales call
Jump in the conversation to hear exactly how Sumit teaches his sales teams to implement these strategies to attract all of their modern B2B buyer personas.The art of value-based #B2B selling revolves around getting your #prospect to understand the value of what you’re offering. 😯 Read more on this ep of @GoModernSelling @M_3Jr @datamaticsbpm Click To Tweet
How do you Train Sellers to Succeed With Value-based Selling?
In my 25+ years in sales, I’ve had my fair share of deals that fell through because the prospect couldn’t see the value in what we were offering.
That’s where doing your research before reaching out to a prospect is so important. The more you know about their specific pain points or business goals, the better positioned you will be to craft sales outreach messages that speak their language. You can read some of our best tips for cold emails!
I wanted to get Sumit’s unique perspective to see how he trains his sales teams to convey value in their sales conversations.
He shares, “If you’re selling a service, then the buyer has to have a very high level of trust in the seller to feel comfortable taking that risk. They’re not buying something they can easily compare to a competitor. So, they have to believe that the seller can deliver on their promise. This is where storytelling can be so important. If you can tell a compelling story that is tailored to your buyer persona, to show them how you can change their world, then that gives you the upper hand.”
Download the full discussion to hear what other specific strategies and resources Sumit shares that are a must for sales leaders in 2022.How should #sales teams navigate the world of value-based selling when there are multiple #personas? That is the topic of discussion in this ep of the @GoModernSelling #Podcast @M_3Jr 🎙️ W/ @datamaticsbpm #modernselling Click To Tweet
How Should Your Sales Team be Organized for Value-based Selling?
At Vengreso, we invest heavily in the development and training of our sales team. And, we study the structure of our department to ensure that we have the right incentives in place to drive performance.
As we enter into Q1 of 2022, I was curious to know what Sumit’s top value-based selling principles were for the year.
From his perspective, he sees four key things being critical to enhancing how sales organizations master value-based selling:
- Define the value chain clearly so there is a single point of contact for each vertical
- Account managers should always think strategically and remain agile
- All sales leaders and sales enablement staff must stay on the cutting edge of technology
- Sales teams need to remain focused on their objectives and analyze their results
Listen to the full episode to hear the stealth value-based selling strategy I used to land a $50M deal with one of the largest oil and gas companies in the world! It’s a story you don’t want to miss.
Plus, Sumit shares more key insights regarding what sales metrics you need to track to see if you’re really using value-based selling the right way.
This episode of the Modern Selling Podcast is brought to you by Leadfeeder, the leader in website visitor identification. Leadfeeder helps grow your sales pipeline by identifying and qualifying anonymous prospects visiting your website so you can spend less time prospecting and more time selling.