Profit and value are two terms that often stir up mixed emotions in the sales world. While some see profit as a marker of success, others view it as a sign of greed. However, as outlined in my book, The Simplest Sales Book: The Beginner’s Blueprint to Sales Success, profit is neither good nor bad—it’s essential. It’s the lifeblood that keeps a business running and serves as an indicator of the value provided to customers.

The Traditional View of Profit

Traditional sales systems have often prioritized maximizing profit, sometimes at the expense of customer loyalty. This approach is fundamentally flawed for several reasons:

• Repeat customers are more profitable in the long run than one-time buyers.
• The cost of acquiring a new customer is generally higher than retaining an existing one.

Therefore, profit should be viewed as a by-product of enduring customer relationships, not the result of individual transactions.

The IDEAS Approach to Profit

The IDEAS Sales System takes a different route. It intentionally sidesteps the topic of price, focusing instead on creating and demonstrating value. This approach aligns with the Triad of Belief, which emphasizes belief in your industry, your company, and yourself. When you transfer that belief to your customer, you create a powerful dynamic that goes beyond mere transactions.

What Exactly is “Value”?

The term “value” is often misunderstood in sales. Salespeople frequently mistake features for benefits and benefits for value. Let’s clarify:

• Feature: A factual statement about a product or service.
• Benefit: The positive outcome that the customer experiences from using that feature.

However, value is a complex, often subjective concept that goes beyond features and benefits. It’s tied to the emotional satisfaction and sense of worth that customers derive from a purchase. For example, consider a lawn-mowing service. The feature is the grass cutting, and the benefit might be a well-maintained lawn. However, the value could be the quality time the homeowner can now spend with their family, deepening their relationships.

The Salesperson’s Role in Unveiling Value

It’s crucial for salespeople to understand the profound layers of value a customer will receive, even if the customer doesn’t realize it themselves. Most people aren’t fully in touch with how their emotional needs influence what they consider logical decisions. By helping the customer understand the value, you’re not just selling a product or service; you’re becoming a partner in enhancing their life.

Why This Matters

Understanding value from the customer’s perspective is crucial for any salesperson aiming to serve effectively and maintain long-term relationships. When customers perceive value, they desire it more than they want to retain their money. This approach not only sustains your business but also turns you from a mere vendor into a valued partner in your customers’ life journeys.

If you’re interested in diving deeper into these concepts, consider reading The Simplest Sales Book: The Beginner’s Blueprint to Sales Success. And if you’re looking for personalized guidance, Closer Classes offers one-on-one training, coaching, and life coaching to help you excel in your sales career.

The customer is ready to buy. He needs you to help him believe.

Article Summary

This article delves into the often misunderstood concepts of profit and value in sales. It emphasizes the importance of long-term customer relationships and introduces a fresh perspective on what truly constitutes value, going beyond mere features and benefits.