I recently thumbed through the Next directory to find some trousers for my son Samuel.
One particular pair caught my eye that looked unusually cheap and nasty for Next (I know it’s not high end fashion, but it’s a brand I tend to trust). The jeans had that dodgy cardboard look about them. The type of jeans you would only put on your child if you knew they were heading off to a fight.
Do you know what the jeans were called? “Value Jeans”.
This is the type of statement that cheapens one of the most effective concepts used in sales psychology. The jeans weren’t “value” – they didn’t represent buying efficiency as they wouldn’t be worn. They also wouldn’t have lasting value – they were cheap and a waste of money. In short, there was nothing valuable about them.
This is the danger with mixing up the two words, value and cheap. If you judge value as being totally related to price, then you can reasonably expect some disappointment. You’ll just end up with products, services and solutions that you can’t really use. Your only comfort is that it wasn’t money wasted – but even that is a false dawn.
Our best advice, almost irrespective of the product or service you are seeking, is to forget the price to begin with. Find something you want, that exceeds your expectations. Then see if you can afford it, and negotiate to budget, before you make sacrifices on quality.
Value selling is one of the subjects that comes up frequently in our sales training. It’s about how to give the customer more for their money – not less. It’s about looking at your product or service and saying “How can we add value to this for our customers?”.