Value is in the Eye of the Buyer

I had to take my eldest daughter for an educational psychology assessment a few weeks ago.

She’s 18 years old, already has a diagnosis of dyslexia and has everything in place to support her through her A levels but needed to have a new assessment done so she can apply for support at university.

At the school’s recommendation I went for the cheapest option (it was still £340 so not that cheap!).

We turned up for the 3 hour assessment and the Educational Psychologist asked me what my objective was for the assessment.

I wasn’t ready for the question so without engaging my brain I explained “In all honestly I see this as a bit of a box-ticking exercise so we can ensure my daughter gets the right support at uni.”

This immediately got the back up of the Ed Psych!

Why?  Because she felt the assessment was not a “box-ticking” exercise as it would deliver significant value and I was overlooking that.

But.  I was the buyer so what was important is the value I perceived I was buying, not the value she believed she was giving.

Has that happened to you?

How many times have you been in a sales situation where you knew you could deliver great value to the potential client but they didn’t buy?

At least a few, right?

There’s an exceptionally good chance that happened because they didn’t see your perceived value.

Basically you failed to explain it well enough (sorry, but it’s true).

Value can be tricky to articulate but it is vitally important.

Think about the buying decisions you’ve made recently. In every one you have weighed up the perceived value.  You’ve probably done it subconsciously but you did it.

Now think about your sales conversations.  How well have you nailed the value you deliver in those?

Is there room to improve your conversion rate in those conversations?  Then it’s your value proposition (sorry about the jargon but I’m sure you know what I mean) that you need to sharpen.

 

What would your discussion look like?

If your ideal prospect was having a similar discussion with you as I did with my Ed Psych how would that play out?

How would have answer the “value” question?

Would it be different to how you would articulate it?

Write down what you perceive to be the value you deliver and work out a way you can weave that into the sales conversation so it’s 100% clear why your prospect should work with you.

 

How did it end?

So the Ed Psych carefully pointed out to me that she would be looking for any areas where my daughter could get improved support which may have been missed previously.

I wasn’t convinced she’d find any as we’d had 2 assessments done previously and she gets good grades so logically I felt the chance of her unearthing new info was slim.

So when the report arrived I eagerly opened it to find the extra value.

And there was none!  She confirmed what we already knew!

Just like Beauty Is in the eye of the beholder, value is in the eye of the buyer!

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