Customers want to work with vendors that understand their unique problems. They want solutions and value from their partnerships, and look to a good solution provider that can deliver this value from start to finish. Yet, all too often sales reps fail to discover what is important to each stakeholder, resulting in deep discounting or no-decisions.
This webinar with SiriusDecisions’ Jim Ninivaggi, will explore practical ways to identify key stakeholders and business drivers, and will illustrate ways to map the value of your solutions to build trust with your clients throughout the sales cycle.
Jim, I’d like to talk about establishing the initial price, because everything erodes from there. Initial discounts “this is just our list price, we can provide discounts” Negotiating against themselves
Tim needs to address last bullet Jim Key issues – Tim What you walk away with
Jim through Buying Process Tim then gives examples with Arrows (no text) Today Challenger – insight or HBR with Provocation Selling 7 years ago or 20 years ago with Solution selling and latent/unkown pain
economist Dan Ariely and his colleagues from MIT and Carnegie Mellon University studied this question, and came up with some intriguing findings:
You have more control over your pricing than you might think, and can “anchor” higher pricing if you do it early in your sales conversations. A customer’s initial impressions of your value shapes how they view the ultimate prices they are willing to pay. Subsequent decisions are made in relation to the first assessment of value, so you must make the first one work for you. If your customer already has a reference point for the pricing of your solution (perhaps by comparing it to their current solution, or competitive offerings), it is critical to differentiate your solution and then anchor as high an initial price for it as you can.
Tim to take this slide No more walking brochure – home depot: Hammer/Nail Gun for deck Sell solutions, means you have to understand and relate to what others have done and the value others have achieved. Value that you add as a sales person, domain expertise, industry/competitor knowledge
Jim to take - Value message isn’t the benefit of a feature
Jim to lead
Differentiate early- and prove it. unless you are the low cost provider Tim to tell the Revegy story The CFO says “hey, we just bought SFDCSalesforce.com, what is this Sales Enablement stuff you want
The key is to predict the future for them, this is going to happen.
Jim to lead. DE – ability to diagnose Tim Color Commentary - The sales executive’s personal value – in sequence
Plus risk of my LMD
Especially a SAAS model
Providing insights and tools at the moment in time they need them
Next Jim is going to talk about preparing your team for each of the conversations.
Engineering Value in the Sales Cycle Featuring Analyst SiriusDecisions
SiriusPerspective: By the time a rep first meets with a buyer, need may be preordained
and a solution preconceived.
Preordained Need/Preconceived Solution
While most marketing and
sales organizations have
recognized this seismic
shift, many have done little
Web sites Blogs
Changing the Conversations Sellers are
Having With Their Buyers
SiriusPerspective: Moving from product to solutions will require a different set of
The Product to Solution Evolution
SiriusPerspective: Relationships don’t matter to CXOs as much as company and
What Does a CXO Want From A Salesperson?
Show they care
about my success
about my industry