To ensure growth in the HVAC OEM business, consisting of a few, but very large customers, Grundfos set out to increase sales. In an effort to move towards value-based selling, the company together with Kunde & Co launched into identifying the value it offers beyond the product.
Differentiating Grundfos HVAC OEM with value-based selling
Grundfos is a global leader in water technology and a pioneer in the pump industry. The company was founded in 1945 in Bjerringbro, Denmark, and employs more than 19,000 people across 56 countries today. Grundfos HVAC OEM serves a small number of high-volume industry customers like Bosch and Vaillant, and altogether, the division sells nearly half of all the pumps Grundfos creates.
As in most industries, competition can be fierce. But the value that a company offers is often much more than the product itself. For Grundfos HVAC OEM, this was exactly what Kunde & Co helped to identify and describe. Through desk research and one-to-one interviews, the core value-based selling arguments for Grundfos HVAC OEM were identified and gathered under the value proposition ‘Solid Solutions – Today & Tomorrow.’
The newly identified value proposition was converted into a range of sales materials. Storytelling was an essential part of the sales presentation, and supported the sales team immensely as a conversation starter. Italso helped support the value-based selling approach in meetings.
The new approach was rolled out in the sales organisation with a sales skill assessment, followed by an updated sales presentation in the framework of a Sales Excellence training.
The sales toolbox was further supported by a marketing plan relying on social selling and account-based marketing. Today, e-mail newsletters, geo-targeting and profile-based LinkedIn messages help communicate the value-based selling arguments to a larger audience than the sales reps could reach themselves, potentially reaching thousands of decision-makers.
Until recently, Grundfos saw that competitors’ products and offerings were becoming close substitutes, and new players were entering the market.
Today, Grundfos HVAC OEM has succeeded in differentiating itself with a value-based selling methodology, embraced by its Key account managers. A new sales toolbox and presentation enables Key account managers to secure a strong and clear position in the market, and a supporting marketing plan further multiplies their reach to potentially thousands of decision-makers.
- A new value proposition
- Sales toolbox and presentation
- A marketing plan to support the sales toolbox