3 Keys to Winning Configuration-Based Sales
If you sell a product that is configurable, you need to be selling more than features and options; you need to be selling the value these items bring. But how do you do that?
Here are three keys to winning configuration-based sales.
1. Draw out the value of each component in the given configuration.
If your client has the ability to choose features and options, you need to make sure that your proposals are drawing out the value of each item in their configuration. For example, say your client has the option to add a three-way switch to your widget machine. What is the value of this item versus having a similar item that doesn’t have the switch?
Your proposal needs to draw out ALL of the potential benefits and value to be derived from choosing to add an option to a product. If you don’t, you’re likely to lose out to a product without additional options that is made less expensively.
2. Bundle features and options where possible to make the configuration competitively priced.
If a three-way switch is a $100 option, and an extra large handle that the switch mounts to is $100, consider pricing these two options for $150. This is a way to gain incremental revenue from a single sale. The key is to sell the benefits of buying both items together so the perceived value is far greater than the price of the line item.
3. Properly organize your proposal to highlight differentiation between your solution and competitors.
Your proposal is the salesperson you leave behind at the prospect’s office. It should keep selling long after you’ve left. In order to do this, the proposal needs to:
- Reflect your brand. If you have a high-value solution and top-end service, your proposal shouldn’t look like a poor, distant cousin. Your proposal needs to be in line with your brand, look sharp, and instill confidence in the prospect.
- Be neat and well organized. Like the previous item, this problem seems readily apparent, but you’d be surprised by the number of sloppy-looking proposals being sent out every day. The proposal needs to break down all the items and their respective configurations so that the prospect can understand what they’re buying at a glance.
- It has to sell value! The proposal needs to spell out the value of the product and each one of its features and options. Selling on price, rather than value, is a sure way to lose every deal—especially when customers are paying for optional items in the configuration.
By clearly spelling out the value of each component in a configuration, bundling to ensure competitive pricing, and properly differentiating yourself from the competition, you’ll be sure to see prospects and current customers respond more positively to your configuration-based sales proposals.
Remember: it’s all about value, not price!