Thank you for your interest in the Partner to Win webinar series. We look forward to your joining us!In the meantime, please enjoy the most recent mini-lesson in the series and explore other topics that may be of interest to you:
“We REALLY want to work with you, it just costs too much.”
*Sigh* You’ve been there. A prospect seems excited, they love your people, they love your product, they just don’t love your price. Well, this objection is not the end of the road.When it comes to pricing and conversion, conventional wisdom tells us; its about high value, low price, and strong relationships. Guess what? Recent research indicates that this may be the least effective approach to closing a deal! Despite popular opinion, these three perspectives are not the best rebuff to pricing objections.
What’s the real driving factor behind conversion? Proven in practice and sales dollars, its relative value that closes deals. Here’s what I mean; We know that buyers don’t always choose the vendor with the lowest prices, (been to Starbucks today?) Let’s take a look at how you can close a deal today on relative value.
RV+BR+RM @ FMP: It all starts here and I’ll explain in a minute. But first, let me explain what results you can expect to receive from this approach: closing on relative value allows you to clearly understand and explain why your solution is the best fit to your client’s business and/or technical requirements, and to demonstrate how it also provides a fair and reasonable market price.
The ‘Relative Value’ (RV) of your solution is shown by considering its ‘Business Return’ (BR) provided (e.g. increased market share, improved quality) plus the ‘Business Risk Mitigated’ (RM) offered at a ‘Fair Market Price’ (FMP) Work out the Relative Value of your solution face-to-face with your customer, pen down this solution, fully explain the variables, and ask for the order.
Here’s a sample script we’ve used
‘During the Fit Assessment, our teams have discovered together that we can achieve a Business Return by reducing your downtime during an unexpected event (BR) and we can do it by mitigating the risks associated with data loss (RM). This can be done for a price of $X (@FMP).’
‘How soon do you wish to initiate service?’
It’s that simple.
Lesson 3 Homework:
- Find these mini-lessons helpful? Check out our upcoming webinar where we will take you through even more of the Smart Sales Method: Register here.
- Mini-Lessons 1-3, did you learn anything? Anything that you wish we would have covered? We’re here to help, send me an email at firstname.lastname@example.org, you won’t hurt my feelings!
- One last thing before joining us live, share your pain points by Tweeting #mycloudchallenge to @OffsiteDataSync. We’ll give you a shout and see if we can help!
Happy New Year & Happy New Customers!
Sean Arnold, Channel Account Executive
*Source: Worldleaders, Inc. www.worldleaderssales.com