‘Tis the season for car commercials and countdowns. I will spare you the sentimentality of the great American holiday car spots. Instead, I bring you a bit of fun to close out this holiday season. We’ve had a super year working on really complex and challenging pricing issues, discovering hidden value for clients, and working with sales people to protect that value in negotiations. Some of those same consultants are also talented (and competitive) writers who enjoy sharing insights with our followers. Let’s see who scored the most page views on their blogs.
In recent years, the word value has become almost meaningless. This watered-down version of value frustrates anyone striving to improve sales effectiveness and overall business results. We know customers want value. But, what does that mean exactly?
Do you deliver value that is not captured in price? Do you provide services that are under-appreciated by your customers? If you answered “yes,” you have lots of good company. We constantly see organizations miss the potential to capture value because of misaligned price metrics, offering extra services above and beyond contract agreements, all you can eat offerings, and poor tracking of value delivered.
Topics: Uncovering your Value
Does your sales team spend more time negotiating with you than with the customer? Do they struggle to achieve pricing targets? How well-equipped are they to accomplish the objectives they are given?
Last week, Netflix announced a $1-$2 monthly price increase for its standard and premium plans. Investors applauded the move, with shares lifting 5.4% on October 6th, adding over $4B to Netflix’ market cap. How many other executives are now evaluating their pricing decisions in search of incremental revenue? Should you?
Adele McLean talks about finding your pricing purpose in this week's video blog. Find out if you have succumbed to some of the common pricing pitfalls, like cost-plus and market-based pricing, and how to get your pricing priorities back on track.
The purpose of "big data" is to give managers a clearer vision of something so they can make decisions about products, pricing and distribution. In pricing, it is generally around how customers buy. It uses statistical techniques to group customers into definable segments and helps you figure out how to sell to those segments.
You are sitting across the table from an important influencer within your customer’s buying center. You scheduled this meeting to outline how your new product helps the customer’s teams improve performance. You present one customer value prop after another, so many in fact, there’s no way you can lose.
How Well Does Your Sales Team Harvest Value?
As the understanding and communication of value matures in a sales organization, the payoff to a company’s profit increases. This truth is widely accepted, like that fire is hot or rain is wet. If the fact that value creation and harvesting has profit implications is no surprise to anyone, why do so few sales teams reach a level of value maturity and fewer still are able to maximize it when they do get there?
Every company that we have worked with wants to grow. They set growth targets and communicate it to their shareholders. Achieving these targets can mean make or break for the organization. At times, we see companies become overwhelmed with options in their pursuit of growth and while under immense pressure from shareholders, seem to be standing still versus moving forward. If you are in a company in a mature industry, chances are there aren’t many green fields left to grow. Faced with this situation, what can a company do? How can a company exceed market expectations and drive shareholder value?
Topics: Uncovering your Value