Impact Pricing Mastering Value-Based Selling: Five Steps to Winning and Retaining Customers with Mike Wilkinson
Mike Wilkinson is referred to as The Value Sales Expert whose focus is on value and value selling.
In this episode, Mike shares what is involved in a successful value-based selling to enable tailored solutions that address specific challenges of your customers. He emphasizes the importance of measuring and reinforcing delivered value while developing ongoing relationships to uncover new opportunities and ensure long-term success.
Why you have to check out today’s podcast:
- Learn about a five-step value-based selling framework to help you master value-based selling and deepen customer relationships.
- Gain Insights from real-world perspectives, practical advice, and candid reflections on overcoming common sales challenges.
- Discover how to shift from a product-first to a customer-first mindset and transform your sales approach.
"The most important thing from a seller's point of view is be confident in your price. And the way to be confident in your pricing is to make sure that you know, you're absolutely certain, that the value that you are delivering is more than a match for the price you're going to be charging."
- Mike Wilkinson
Topics Covered:
02:21 - Mike describing what he does
02:52 - Elaborating on the concept of value
07:33 - Highlighting the 'Value Triad' as it relates to the value drivers
11:08 - Mike's approach to teaching value-based selling
14:46 - Outdated sales practices that focus on pushing products rather than solving customer problems
16:48 - Thoughts on Zig Ziglar's sales principles and the importance of value discovery in the sales process
21:48 - How to ask impact-driven questions
24:07 - Detailing an effective value discovery and value demonstration to ensure a successful conclusion
26:51 - What value delivery means
28:07 - Value development and what it encompasses and the importance of regular reviews
29:33 - Mike's best pricing advice
Key Takeaways:
“Until we understand how our customers are defining value for them, then to all intents and purposes, value is a mystery. And as sellers in particular, our job is to solve that value mystery.” - Mike Wilkinson
“It’s your customer that defines value, not you.” - Mike Wilkinson
“Until you've understood what the issues are from the customer's point of view, you do not have a solution.” - Mike Wilkinson
People/Resources Mentioned:
- McKinsey: https://www.mckinsey.com
- Zig Ziglar: https://en.wikipedia.org/wiki/Zig_Ziglar
- Seth Godin: https://www.sethgodin.com
Connect with Mike Wilkinson:
- Website: https://axiavalue.com/
- LinkedIn: https://www.linkedin.com/in/mikewilkinson-thevalueexpert/
- Email: mw@axiavalue.com
Connect with Mark Stiving:
- LinkedIn: https://www.linkedin.com/in/stiving/
- Email: mark@impactpricing.com