In B2B sales, complementary tools and dynamics work together to make or break a sale. So which of them ultimately closed the deal? Was it the glowing reference or great rapport with the sales rep? Chances are it was the vendor’s discovery-based sales process that yielded a targeted solution that delighted the buyer.
When you get right down to it, B2B deals are driven by the buyers’ desire to lower costs or grow sales. Even if they tell you they want to “mitigate risks” or “achieve compliance,” buyers still expect to achieve their desired outcome along with a positive impact to their bottom line.
Previous posts in our series on value pricing have examined its risks, rewards, and mechanics, all with the goal of maximizing earnings for your company. Let’s expand on this foundation with practical tips and methods for considering the impact and likely market response to your pricing decisions.
One of our earliest blog posts titled Why Value Based Selling is So Successful is still one of our most popular posts. It opens by defining value-based selling as an approach “built on quantifying the impact the service makes on the customer’s financial performance,” based on a reference from Sequeira Consulting’s website.
Our series on value pricing continues with a detailed look at how to set prices that benefit both you and your customers. Now that you understand the risks of other pricing models and how value pricing leverages the value your offering creates for customers to maximize earnings for your company, let’s look at one way to actually calculate the optimal price and the data you would need to populate the formula.
Every now and then, it's worth rereading the now-classic business book, “The Challenger Sale: Taking Control of the Customer Conversation." The authors make it clear that value selling can help every sales rep perform like a Challenger by adopting the attributes in the profile of this likely sales leader.
What’s your strategy for determining the optimal price for your B2B offering? If you check Wikipedia, the obvious source of all that’s true in the known universe, you’ll find 26 different pricing models or strategies. In this first of a series focused on value pricing, let’s take a closer look at how you can set prices that benefit both you and your customers.
I had the pleasure of speaking with Mike Serulneck, an accomplished (and now happily retired) value engineer, who shared his experience using value selling methodologies to sell technology solutions, as well as his perspective on how value selling has changed over the last decade.
What can Aristotle teach us about value selling? Aristotle? Value selling? The link between one of the greatest thinkers of the Western world and value-based sales processes is stronger than you would think!
Your ability to help B2B buyers understand the value you provide can make or break the sale. In some cases, as with our client IQS, that means communicating the ways in which the prospect or customer is losing money so that the buyer understands the potential of the solution.
