Selling Service Value
Selling the value of service is making the case for why the customer is better off with it than without. Selling services demands that you establish a credible and compelling value proposition.
The Guide to Selling Service Value
Selling services demands that you establish a credible and compelling value proposition. The value proposition describes the relationship between the price and benefits from the services a customer receives. To be compelling, the benefits must be perceived to exceed the cost. Service benefits may be intangible – insurance against risk, or tangible – a commitment of specific resources or attainment of a specific outcome.
Although difficult, it is imperative to quantify the value of all service benefits so that they can be compared to the price. A compelling value proposition is fundamental for successful sales and renewal activities. Selling the value of services requires the following:
Understand your customers’ needs and expectations from the product and services they buy from you.
Offer a robust portfolio of services. Not all customers will need or benefit from the same types of service so develop offerings that can align to the customer segments you serve.
Set reasonable prices for your offerings. This does not suggest that reasonable is low, but it must be justifiable. Customers must understand and agree that the benefits of service are consistent with the price they pay.
Create a clear and compelling value proposition.
Help sales channels and renewal teams understand the elements of the value proposition so that they can clearly articulate it to customers during sales and renewal activities.
Support program design and pricing is challenging. Contact me to learn how ServiceXRG can help you determine if your service portfolio is up to date and aligned with customer needs.
- Do you offer the right programs?
- Is your portfolio Customer Success-Ready?
- Do customers need more or less than what you offer?
- How well is your pricing aligned with customer expectations?
- What do your competitors offer and what do they charge?
Contact us now to learn how we can help develop and optimize support and services portfolio offers.
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Selling services demands that you establish a credible and compelling value proposition. To be compelling, the benefits must be perceived to exceed the cost. This playbook describes the essential steps to develop a compelling value proposition to maximize support sales and renewal activities.
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