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3 Ways Retail POS Dealers Can Move from Price Competition to Value Selling

April 4, 2018

Businessman draw scheme symbolize value for money process when moving from price competition to value selling. It can be challenging for point of sale (POS) value-added resellers (VARs) to compete with providers and manufacturers that offer lower price points by selling direct. The key is to offer something that direct providers can’t—value. By solving problems, pitching benefits, and monitoring and auditing your clients POS systems to ensure proper use, you can elevate your business strategy from price competition to value selling.

1. Solve Problems

Most people don’t step foot in a car lot unless they are in the market to buy a new vehicle. The same is true for retailers “browsing” POS solutions. It’s pretty safe to assume that they are in the market for a new solution, because all or part of their current system is not providing everything they need.  Your role is to discover the core pain point that propelled the retailer to explore new software. Has the retailer outgrown the functionalities of their current system? Is the retailer looking to streamline business operations? Value selling means building a narrative around the needs the solutions on your line card fulfill for the retailer. You’ll establish yourself as an adviser who is interested in helping grow a retailer’s business.

2. Pitch Benefits

Everyone can claim to be an expert in a world where information is just a finger’s click away. To truly excel at value selling, show your prospects what they can’t learn from an internet search. Know how the products you are offering can be used in a variety of real-world situations. Provide specific examples as to why one of your solutions provides higher value over the competition. If your customer is doing business within a niche market, point out how a product on your line card has been proven to perform for similar retailers in that vertical. For merchants battling high turnover, pitch solutions that decrease training time through easy-to-use graphical features, saving time and money training new hires.

3. Perform a System Audit

The most important item to remember when moving from price competition to value selling is that your relationship with your customer doesn’t end after closing the sale. Once you have their commitment, and installation and training are complete, check in with your merchant to perform a system audit. Are they using the solution the right way? Where do they need additional support? Are they entering data properly? The POS system is the most efficient tool your retailer has to help grow their business. But bad data, generated from entry errors or improper use cannot help any business improve. Walk your client through the system audit to show the value of using a POS the proper way, and how to glean insights that will reveal opportunities. Undoubtedly, this will position you as a local adviser and build a good foundation for future sales.

When moving to value selling, take time to listen to your client, and provide solutions to their problems. Make sure your client is using technology properly to grow their business. Contact TallySoft to see how our POS software and retail management solutions bring value to your customers by helping to increase profits and enhance the customer experience.

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