One of the biggest sales challenges in today’s competitive business climate is preserving price integrity.
Sales coach Anthony Iannarino provided some advanced sales tips to help you win more deals, increase wallet share, and improve your margins by creating real value that your clients simply can’t ignore during his presentation at the Sales Acceleration Summit in March.
Let’s take a quick look at some of the highlights and key takeaways from his presentation.
Why Does Everybody Want a Discount?
If you feel tremendous downward pressure on your margins, you are not alone. We’re all experiencing it for a variety of reasons.
Iannarino highlighted several market forces that make it hard to keep your prices where they belong.
Here are four key forces:
- 1. Globalization: It’s getting cheaper and cheaper to outsource to other countries.
- 2. Disintermediation: If you buy anything from Amazon.com, you’re participating in disintermediation – which means cutting out the middleman. And by cutting out the middleman, you put more pressure on margins and pricing.
- 3. Post-Recessionary Traumatic Stress Disorder: We’re not in a recession anymore, but it still feels like we are. So, buyers are super-frugal.
- 4. TMI (Too Much Information): Your buyers can do a lot of research on you and your competitors on the Internet. Because buyers wait longer to talk to a salesperson, it’s harder to
Don’t let all of these developments scare you, though. Iannarino offered up some valuable sales tips to help you clobber your competition. He said the secret to winning more opportunities and increasing your profit margins is to deliver unmatched value.
Different Levels of Value
You must move to the highest level of value that you can possibly create. Iannarino shared four levels of value that you can show your clients. The higher you go up the list, the harder it gets, and that’s where you start to develop a true competitive advantage.
Level One: You sell a good product. At this level, you’re undifferentiated, you don’t generate any loyalty, and you’re easily commoditized.
Level Two: You provide a positive experience, including remarkable service and stellar support.
Level Three: You demonstrate business outcomes. You still sell a great product and back it up with world-class service, but now you’re solving your client’s business problems. You’re producing tangible results and proving ROI.
Level Four: You work on helping your clients with their biggest and most strategic outcomes. You help them envision and create a future. You become an integrated part of their management team. You’re completely proactive and future-oriented.
Level Four is difficult to create and maintain. But it’s the best way to preserve price integrity, retain clients, identify upsell opportunities, and fuel sustainable, profitable growth.
If you want to create a winning culture with strong margins, stand firm on pricing and drive real value creation.
Hopefully you’ve found these sales tips useful. Iannarino’s presentation gave us a lot to think about and implement. If you want more actionable advice, attend the Kick-Start 2015 Sales Success Virtual Event on Nov. 18.