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.
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!
A solid business case is essential for conveying the value of your solution through its obvious and more subtle advantages. When properly prepared, a business case informs and challenges customers to consider new perspectives, and gives you an opportunity to seal the deal with speed and confidence.
A compelling value proposition is critical to sales success. It can, without a doubt, make or “brake” a sale and is often the root cause when new products or solutions fail to reach their destination. Without a clear value map or an understanding of “what’s in it for them,” prospects have little reason to invest in your offering.
The most successful sales reps focus on understanding the customer's business, especially when it comes to solution selling. These sales reps engage in what some have now dubbed “The Challenger Sale.” But what exactly is it and how does it align with value selling? Let’s take a closer look.
Traditional marketing wisdom tells us that building customer relationships begins with the sales process. Every product, company and industry has its own unique journey, and it’s our job as B2B solution providers to establish trust, credibility and value every step of the way.
As customer acquisition costs keep rising, savvy SaaS providers are focusing on retention to reduce their churn rates. An initial SaaS purchase is just the beginning of your relationship with a new customer. You must keep earning their loyalty to ensure high renewal rates and avoid financial and reputational damage.
In today’s economy, having a compelling business value proposition and being able to deliver against that promise is not a "nice to have," it’s the price of admission. Companies today constantly vie for business decision makers’ attention and the opportunity to sell their product or solution.
Closing a deal with a long and/or complex sales cycle can take a great deal of time and effort. However, it should always include a persuasive, value-focused business case. Why? Because a comprehensive business case provides your customers with the financial logic of investing in your solution.
Sales and marketing professionals often seek a TCO analysis to help grow sales and close deals when an ROI analysis would actually be far more beneficial. I know this because I get frequent requests to create TCO tools, and my first question is, “What problem are you trying to solve?”
