Building value starts with identifying needs, but it doesn’t end there. The seasoned pro must be able to not only identify and provide solutions for known needs but must also be able to identify additional value not previously considered by the prospective customer. Visualize a measuring scale as a metaphor for this. On one side of the scale, is the price. On the other side of the scale is the value to the prospective customer. If you fail to build enough value, the price will be too high. If on the other hand you build value for both the identified needs as well as adding additional value, the sum of the value far outweighs the price, resulting in a decision to move forward with the purchase.
An important value building strategy begins with the ADT story. Too often I observe sales representatives who miss understand the prospective customers knowledge of ADT. They ask “have you ever heard of ADT?” When they get a “yes” they assume no reason to spend additional time covering the value of being monitored as a customer of the industry’s oldest, largest, and best provider. While the customer may know the name, they may be aware that we are a large company, and even know that our yard sign is blue, they probably don’t know all the other reasons why ADT should be their only choice. You get the competition objection at the end because you failed to eliminate the competition by building value with the telling of the ADT story.
Here’s an example of how you might tell the ADT story: “It sure sounds like you know a lot about ADT Mr. and Mrs. Jones. Let me share a couple of additional things that you may not know about ADT. First you may not know that ADT has been around for over 146 years. That’s a really long time, right? Think about the company’s that you and I think of as companies that have been around forever. Names like Ford Motor Company, General Electric, and Coca-Cola. Well, none of those companies were in existence when ADT started. For 146 years ADT has been focused on protecting what matters most which are peoples homes, families, and their businesses.”
“ADT is the most dominant company in this industry with 5 times as many customers as our next closest competitor. In fact, ADT has more customers then the next 10 companies combined! With that size difference, it’s hard to even consider the next closest alarm company as a competitor. It’s important to understand that one of the reasons why so many people choose ADT is because of our 6 interconnected monitoring stations located right here in the United States. You see, if your alarm company only has one monitoring center, and it’s compromised due to the inclement weather or a natural disaster, and the workforce is unable to report, you, your family, and your home are at risk. But not with ADT. With the flip of a switch we can re-route your monitoring to any one of the other interconnected monitoring stations. So with ADT when we say “always there” we can back it up. This is just one of the reasons why 6 1/2 million people choose ADT. In fact, 90% of the Fortune 500 companies choose ADT as well as the federal government. Think about it, unlike you and I they have a staff of full-time security experts to help them choose a company that’s right for them and they choose ADT. That says a lot!”
“Finally, let’s talk about guarantees. While no one can guarantee your home will never be broken into, with ADT we know that you are 10 times less likely to be broken into just by having one of our signs out front. We are so confident of the deterrence factor of our systems, that we put our money where our mouth is. We have a theft protection guarantee that provide you up to $500 towards reimbursing you for the cost of your insurance deductible should you suffer a loss while being monitored by our system. And the good news is we hardly ever have to pay off! We also offer a movers guarantee that ensures you will never be inconvenienced due to relocation. We will either allow you to relocate your equipment to your new home or even sign up and receive new equipment so you can continue with your service. Local and regional companies can’t guarantee you nationwide coverage. And finally, we offer a 100% moneyback satisfaction guarantee. And get this, it’s for 6 months! That’s right 6 months! If you are not 100% satisfied at any point during your first 6 months, all we ask is that you give us the ability to fix whatever the issue is. If we are unable to do this to your satisfaction, we will refund you all the money that you have paid. Now, doesn’t ADT sound like the company you want protecting your family and home?”
Remember, you have the great advantage of representing the industry leader! Make sure to build value by educating your prospective customer on why choosing ADT should be their only choice. Building this value will lead to more of your presentations moving forward to completed sales.