Why is selling nuts and bolts easy? In a nuts and bolt situation, the customer has already acknowledged the need and defined the specification (the shape, length and other key parameters). All you need to do, as a supplier is to make sure your nuts and bolts meet the customer’s requirements, and offer them at a competitive market price that the customer is willing to pay. Whilst your product competes in a commodity market, your potential customer base is likely to be higher, as you compete in a mature market.
What about value selling? In this scenario, you are selling a solution to a problem, the customer may or may not know about. In most cases, customer may not even have identified the problem clearly. Part of value selling is to uncover the problem and refine it through engagement. These tends to have longer sales cycles, and more complex pricing as needs of two customers could be drastically different from one to another. Unlike bolts and nuts selling, there is very chance to make a higher margin with value selling.
Is edocr.com a nuts and bolts selling or value selling? I am beginning to think, our proposition is more suited to value selling than nuts and bolts. What do you think?
Could you operate both models? Very hard, as you try to become jack of all trades, and master of none. We think, 2012 is the year we focus on value selling and less on nuts and bolts selling. Care to comment?
I think it is similar to a value stock as you can hold it for years till others realize the value and pile into the stock, [the value trap]. Documents, once accumulated in a small company are difficult to disseminate to employees, partners or clients efficiently. Maybe edocr.com is the answer & your value trap.
~ Clint
@cazoomi
What a great idea Clint. Thanks
Maybe edocr.com is the answer & your value trap
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Yes i agree this post.
Is edocr.com a nuts and bolts selling or value selling? I am beginning to think, our proposition is more suited to value selling than nuts and bolts. What do you think?
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In most cases, customer may not even have identified the problem clearly.
What a great idea Clint. Thanks
Unlike bolts and nuts selling, there is very chance to make a higher margin with value selling.
Documents, once accumulated in a small company are difficult.
What about value selling? In this scenario, you are selling a solution to a problem, the customer may or may not know about.
In most cases, customer may not even have identified the problem clearly. Part of value selling is to uncover the problem
Whilst your product competes in a commodity market, your potential customer base is likely to be higher, as you compete in a mature market.