If you are a value seller with more than one product or service to offer your prospects, you are calculating an ROI for each offering as a stand-alone. What if you were able to aggregate the ROI calculations into a package that shows the total impact of your products on the prospect’s business?
Figuring out what to charge for your product may seem as simple as adding up what it costs to make plus a percentage you call profit. Unfortunately, this “Markup” or “Cost-Plus Pricing,” method is commonly used in all industries.
If this is how you price your offerings, you could be leaving a significant amount of money on the table and hindering your future growth. Although things like market share, large margin above costs, or to follow the price set by your competitors are all factors to be considered in your pricing, they are not the ultimate goal.
B2B sales typically have long marketing and sales cycles due to the nature of the offering. Today’s buyers will put off talking to a sales representative as long as possible before finally committing to a first meeting.
You need to prepare for that first meeting before a potential customer ever asks for one. That meeting is unlikely to include the final decision makers but use it to lay the groundwork for the sale as though it did.
Today is the day you have your big meeting with a new prospect. You have your slide deck on your tablet, and you are all set, right?
Before you go to your meeting, you need to know about four things that make you look bad to prospects. After all, the last thing you want is to look unprofessional and not very bright.
Overcoming buyer objections is an essential selling skill that takes time and experience to acquire. This is particularly true for sales teams with a long and complex sales cycle.
There are a few things you need to learn to help you overcome objections and streamline the sales process.
First, you must find ways to make labor savings, one of the most common promises of new products and services, believable. You must also control the conversation so you can prevent objections in the first place. Last but not least, you must learn the language of the CFO so you can persuade the financial team and upper management that what you are selling is worth allocating the money for now rather than later (or never).
If you aren’t selling on value, you are leaving money on the table. The question is, how much?
Let’s go through the three problems with not selling based on value based on value. Each of these events result in lost revenue and profits. Altogether, it can add up to a significant amount of profit lost.
Value selling tools such as assessment, ROI, and TCO tools, as well as value calculators, all fit neatly into your marketing and sales efforts. Deploying these tools is like giving your marketing automation platform a bunch of power-ups, leveraging even more of its strength.
Marketo, Pardot, HubSpot, and ActOn are all major players in the marketing automation arena. Other marketing solutions are available, with new products and services introduced every month.
In each case, you can build value selling tools into the automated marketing and sales workflow, creating a smoother path through the sales cycle.
Sales and marketing have always been spoken about as though they were a single entity, even while each lived in its own little country. Neither knew nor cared what the other was doing when they really should have been working as closely together as the term “marketing and sales.”
If you haven’t noticed yet, the entire business of marketing and sales has changed. There is no room for silos, only for collaboration.
Because an assessment tool is so engaging, it can be used at every step of the sales process.
Essentially, an assessment tool is a versatile tool that can be designed to evaluate specific situations and guide the prospect through a customized line of inquiry based upon their answers to previous questions. This process helps the prospect have a better understanding of the problem at hand and the type of solution s/he needs.
Here’s how these tools can be leveraged at every step of the sales process.
We all have to start somewhere when we enter the job market. On the way to learning and earning your sales stripes you probably had a good mentor or two. Along the way you may have also heard some of the worst sales advice known to humankind.
Here are ten pieces of the worst sales advice I have ever received.