How a Mug of Dunkin Can Help You More Effectively Sell Value

Posted by Dave Kurlan on Wed, Dec 09, 2020 @ 08:12 AM

Amazon.com: In case of accident my blood type is dunkin donuts Cheap  lasunandsport Mug Coffee Mug Gift Coffee Mug 11OZ Coffee Mug: Kitchen &  Dining

I won't suggest that a cup of Dunkin coffee will make you more alert and more effective.  It's much more helpful than that.

This is another Bob story. Bob was on a sales call and the prospect told him that they were looking for the lowest price.  I hope you hate it when that happens.  It's a bad thing because while Bob was supposed to be selling value, a price-based conversation is transactional yet he's supposed to be taking a consultative approach to support the value he provides.  Would you like to guess what Bob did instead?  Yup, he got them his best price.  Ugh!

So what should Bob have done instead to turn this around and not waste everyone's time?

There are four things that Bob should have done and he must do them in the proper sequence:.

  • First, lower resistance - Bob needs to acknowledge that he heard them and say, "I understand."  Then he can leave it alone.  He has lowered their resistance and that was the goal.  He can come back to this topic later.
  • Uncover their compelling reason to buy - Bob can't sell value if he doesn't know their compelling reason to buy, buy now, and buy from him instead of his competitor.  This is the most important thing to focus on because if he doesn't uncover that reason and create urgency, he won't be able to provide and sell value, and neutralize their stated goal to buy at the lowest price.
  • Monetize their compelling reason - problems have consequences, including operational, functional, conceptual, emotional, economic, and perceived consequences.  These consequences must be monetized to include hard costs, cost of time lost, cost of not solving the problem, the gain from solving the problem, etc.  This is where value actually comes from! Bob must take the time to walk his prospect through what the problem really costs.
  • Sell Value - Bob must ask if, in order to solve the (cost that was calculated) problem the right way, they are willing to spend a little more with him.  If yes, he can ignore their lowest price comment because he successfully sold his value.  If not, he must learn whether they always buy this way or just this time.  For example, if they claim to always buy this way, he can find the weak link in that behavior.  Do they ever get coffee at Dunkin' Donuts? Really?  How often?  Why are they paying around $2 for a medium cup of coffee from Dunkin when It costs only 88 cents to make it using a DD K Cup in a Keurig machine, and only 30 cents to make a mug yourself using DD ground coffee that you buy for between $8-$10/pound.  They are paying as much as 650% more for the value of not having to make it themselves.  Now Bob has precedent that they don't always look for the lowest price.  He could also use a car analogy.  Most of the people you are selling to are not driving Kia's or low-end Fords, Chevy's and Chryslers.  They paid more for a better car! Analogies are great for changing perceptions.

Selling value has nothing to do with sharing value propositions, telling people why it's better to do business with you or trying to meet a competitors's price. Those approaches take away from value and make you sound just like everyone else.  Selling value is about being valuable to them!

Dunkin has made it into my Blog a lot, having written about them four previous times:

Topics: Dave Kurlan, Consultative Selling, selling tips, sales tips, selling value, dunkin, lowering resistance

Subscribe via Email

View All 1,850 Articles

About Dave

Best-Selling Author, Keynote Speaker and Sales Thought Leader,  Dave Kurlan's Understanding the Sales Force Blog has earned medals for the Top Sales & Marketing Blog award for nine consecutive years. This article earned a Bronze Medal for Top Sales Blog post in 2016, this one earned a Silver medal for 2017, and this article earned Silver for 2018. Read more about Dave

Email Dave

View Dave Kurlan's LinkedIn profile View Dave Kurlan's profile

Subscribe 

Receive new articles via email
Subscribe
 to the Blog on your Kindle 

 

 

Most Recent Articles

Awards  

Vendor Neutral Certified 100 SalesTech Vendor Objective Management Group

Sales & Marketing Hall of Fame Inductee

2020-07-20_14-45-52


 

2020-Bronze-BlogIndi

MVP2018_badge_winner_SPC

Top 50 most innovative sales bloggers

Top100SalesInfluencersOnTwitter

Hubspot Top 25 Blogs

 

2020_Top20_Web_Large_assessment_eval

2020-Gold-AssessTool

 

Free Tools

Sales Process Grader

Sales Candidate Assessment Free Trial

Sales Ghost Calculator

Sales Force Grader

Sales Hiring Mistake Calculator

FREE Recruiting Process Grader