If your sales method is burning through leads and data like it’s going out of style, are you starting to wonder if there is a better way? Of course, there is. There could be numerous reasons why you feel you are churning through data lists with nothing to show for it. The most prominent reason is transactional selling.
What is Transactional Selling?
The Transactional sales method just tries to appeal to a person who is looking for the service or product. You’re not selling the value of talking to you, instead, you are preaching about the product which will work a small percentage of the time. Why do we call it transactional selling? It’s because people will come, purchase or not, and leave. It leaves the whole sale in the hands of the customers’ needs at the time. When 90+% of these people don’t want your service they will turn off from all of your other social selling efforts.
If you are using emails or social selling in a transactional method you’ll be sending very high volume sales pitches using an automated service and praying you’ll hit your target. This means you send a thousand emails and you will make sales, but not as many sales if you take the time to send a value piece.
Why Value Selling will give you greater results
The conversion rate for value selling is so much higher than a transactional sale. Value selling creates a more conversational tone for the sales process. This isn’t a one-and-done message campaign that burns your email list. It’s selling with the express intent of making a conversation with you valuable. Sparking interest in your prospects’ minds that spending time on a sales call with you will solve the problem they are facing. You provide value to their lives and are creating a relationship at the same time.
Value selling takes a more personal approach to the process. You have to send personalised addresses which speak to the prospects’ pains. It explains why they need the problem fixed and speaking with you will solve this problem. Value selling wows the prospect with personalisation.
Transactional selling is selling a service people are looking for
Value selling is about helping customers solve a problem with your product.
Transactional Vs Value Selling
If you don’t “value sell” you will be churning and burning, which leads to you not earning. If you have a list of a hundred people and your messaging only converts one of them you might be pleased with that result. But, that one result is a one time purchase without a relationship and you could have converted at least ten of the hundred if you took a different approach. The transactional sales method converts the one, value selling will convert ten, whilst leaving room for upselling and an ongoing relationship.
Now value selling may seem more time consuming and requires more effort than a simple message campaign. But, it only takes one or two extra steps. Presumably, you would take a certain amount of time to craft a message, put that message into a system and send it out. Whereas during value selling you are targeting and engaging first, then crafting your message etc. Those two extra steps give you nine extra clients.
Now instead of a slew of unsubscribe requests and removed connections, you’ll build up a reputable list of prospects who look forward to your next offering. If you continue with the transactional selling you’ll dwindle your prospect list and have the figures to show for it. So, always think about the value during your sales process.