When determining product value, it’s important to go beyond cost and demand. Your customers’ perceived value matters too, especially if you want to build lasting business relationships.
We live in a time of abundant choice, and our customers expect options. Providing customers with a large variety of products and features is a compelling way to sell more. But, as companies grow and diversify, it can be difficult to capture the monetary value generated by the long tail of these products using traditional product management tools and data. An example of these traditional methods includes simple gross margin and product costing techniques derived from accounting systems. These conventional accounting data sets fail to account for the value of diversification and the actual cost of complexity.
The other day I received a call from the CEO of a technology company, and it was not to talk about his company. In this case, I was provided as a reference for a building contractor I had worked with several years ago. The caller’s name was Curt, and like many people building a home, Curt wanted to find a contractor who would do the job on time and not overcharge him. Sounds reasonable, right? Well, not always.
This is a scary time for suppliers and their sales teams. Customers concerned with the impact of COVID-19 are canceling or postponing projects and curtailing spending. As a result, suppliers are losing revenue and seriously considering pay cuts and/or layoffs to help them through this difficult time.
The Buyer-Seller Gap is getting its share of press these days. Even HBR is in on the fun, having tabulated seven daunting reasons why salespeople can’t close the deal. It gets worse: only about 55% of us make quota. I wonder if accountants are as bombarded with data about how badly they perform.
One of the first things that first responders do when they start to treat a trauma victim is to find out where the victim is bleeding. Second, they determine which of those injuries is most life threatening.
Are you sick of hearing about the need to protect your premium high value offerings and stop discounting? Well, you may be sick of hearing it, but it's true.
Generally speaking, as a seller to a seller, we know that big sales opportunities are both a blessing and a curse. While they offer the opportunity for “quota busting” years, they also carry a heavy spotlight and the pressure that comes along with it. This pressure churns our emotions, generating angst in even the most tenured sales pros. How do you deal with the stress?