After months of analyzing data, determining pricing segmentation and structuring a process for quoting prices, there is one thing that can make or break all your efforts (and your potential profits): your sales team.
Regardless of the processes put into place, if your sales team does not understand the reasoning behind your new pricing or the true value of the organization’s products, you will never achieve the profit potential you’ve targeted. (Side note: This statement also rings true for your customer service team.)
There is, fortunately, a proven process for getting your sales team aligned with your pricing goals. It includes four steps:
Educate – Get sales reps the right information to uncover the opportunity within the current state of your organization’s pricing
Engage – Empower reps to make decisions at the customer level, rather than forcing them to follow a formula
Train – Help reps role play to handle objections, communicate value and practice negotiation tactics
Measure – Keep your organization accountable for realizing price during and after implementation
While these steps appear straightforward, they include nuances only learned after several years exposed to pricing implementation trial and error. That’s why during our training and implementation engagement phases we provide you with successful price improvement tips, helping your sales team realize the value of your organization’s products and improve communication regarding customers’ objections. Specifically,
How to partner with sales reps and get them on board with price increases
How to arm sales with the training they need to confidently execute your pricing plan
Ready to start achieving all that profit you were targeting? Contact us.