Discounting and selling in bad economic times seem to go hand in hand, and they shouldn’t. Selling value is the way to avoid discounting. The mindset of the salesperson plays a role. Here’s another way to help sellers avoid discounting and sell value – A repeatable sales process.
Not only does following one provide a roadmap for the salesperson to know where to go in a sales conversation, which our data indicates can increase closed business by up to 15%, but it also enables sellers to more consistently sell value, thus not feeling the urge to discount. Let me show you how it works.
Having a process is a key ingredient in selling the value that your products and services deserve but it only works if call planning, call debriefing and coaching occur. Salespeople need to have tools and resources in order to change their behavior. Just stating the fact that a sales process must be followed will not work.
Salespeople need to have tools and resources in order to change their behavior.
The manager must help the individual follow a plan for each call. And the manager should help the salesperson think about (and maybe even practice) what they are going to say when the prospect asks about price.
Here are some good ideas to re-route the conversation back to value from price.
“No problem. Happy to share the price, but before I just throw a number out there, can I ask you some specific questions about ____”?
The salesperson should then ask the value-creating questions, the cost of the problem or cost of not fixing the problem.
“Yikes. I messed up. I didn’t even ask you what this problem or situation means to you in terms of financial impact. Can we start there and then I’d be happy to share pricing if it makes sense.”
“Well, I am only going to propose a price if I believe you will receive an adequate ROI in our solution. So, can we talk about that for a minute”?
Selling value is a complex element but is critically important to differentiate from the competition. It includes helping salespeople understand value form the client’s perspective; ensuring their mindset about price and money is correct and involves a repeatable process.
Following a repeatable sales process is the easiest way to immediately provide impact and it requires practically no sales skill to do it. Start using one and you should notice less discounting, increased profitability, and improved confidence within the sales team.
If you want help creating the right repeatable sales process for your company, or if you want any other help with your sales team, let us know, we would be happy to assist. And be sure to review this great white paper produced by Membrain, the Sales Enablement CRM, on how to create an effective and efficient sales process.
Gretchen Gordon is the founder of Braveheart Sales Performance, a consulting firm specializing in sales team transformation. A self-proclaimed “Sales Nerd” with over 27 years of sales, sales leadership and sales team transformation experience, she spends most of her time working directly with client companies and helping them improve their sales effectiveness and exceed their sales goals. Gretchen is also a frequent guest speaker for industry events and webcasts, and has been featured on the radio talk shows “Meet the Sales Experts” and "Sales Coaching over Coffee." She is also an accomplished writer, having been featured on industry-leading sites like SellingPower.com and SecurityInfoWatch.com. She authors a “Top 50 Sales Management Blog,” according to Docurated.com, and has published sales-focused eBooks, including “The 5 Essentials of Effective Sales Management” and “Cold Calling in the 21st Century.”
Find out more about Gretchen Gordon on LinkedIn