。
Let me try saying it in a different way.
Literal
Different way-of-saying [with-で] say try [volitional-よう].
言い方 is 'way of saying' — 言う + 方 (かた). 言ってみよう combines ~てみる (try doing) with the volitional ~よう (let me/let's). The で marks the means: 'by means of a different phrasing.' A natural self-correction or rephrasing marker.