How to Talk About Pricing Without Scaring People Off
DECEMBER 12, 2012
Pricing. After all the excitement of attracting a potential new customer, pricing seems like such a killjoy. But pricing is just as important a concept to communicate as the features of your product or the benefits of your service. But when is the right time to talk about pricing, and what's the right way to go about it? Should You Put Pricing on Your Website?
Why You Should Never Email a Proposal
JUNE 27, 2016
Your team has spent hours researching, writing, and refining a proposal your prospect was eager to receive. Was it the content of the proposal? The issues illustrated above don't occur because of the method of proposal delivery -- though email is probably not the best way to communicate something of such importance to your business. How to Present a Proposal. right?
How to Win More Proposals by Interviewing Your Prospects
AUGUST 1, 2016
I’ve been writing proposals for over a decade, and it’s probably fair to say that I loathed the entire process for the longest time. Actually, 90% of my proposals were accepted because of something much simpler: prospect interviews. Proposals Start Way Before You Propose. Upon receiving one of these, I’d get over-excited and jump straight into proposal mode.
From a Business Case to a Case for Change
The ROI Guy
OCTOBER 21, 2015
Despite the growing need to convince buyers as to the unique value you can deliver, the traditional Business Case - long a staple of value selling - may be losing it’s luster in driving sales success. Traditional Business Case typically tallies the costs, benefits and risks of a proposed solution. IDC reports that 95% of purchase decisions require a formal business case.
10 Best Professional Services Proposal Tips
OCTOBER 26, 2015
Tired of competing on price alone? Forget What You Think You Know About Professional Services Proposals. Having said that, there is no reason why your professional services proposal should look and read just like every other firm's. Submitting a "me too" proposal encourages reviewers to select the lowest bid. Then, lay out a convincing case for a better approach.
Three Challenges that will Impact Your 2016 IT Sales and Marketing Plans
The ROI Guy
SEPTEMBER 22, 2015
For you, an already price sensitive and competitive marketplace could get dramatically more so over the next 12 months and beyond, especially if you are in one of f ive key technologies that will be most constrained: Communications Services – Taking the biggest hit, a move to subscription services, price erosion and competition in communication services are combining for an expected 7.2%
Frugalnomics in Effect - Gartner predicts 5.5% decline in IT spending for 2015
The ROI Guy
JULY 15, 2015
conomically Focused – today’s IT buyer is more frugal, with over 95% of technology purchase decisions now requiring a formal business case, with quantifiable ROI and fast payback (IDC). The research shows that 81% expect your sales reps to deliver a credible business case in order to win the deal. So how well do you deliver the financial business cases / ROI that CFOs demand?
More Stakeholders and Business Involvement Driving Longer IT Decision Cycles and Discounting
The ROI Guy
SEPTEMBER 4, 2013
The increased involvement of Business Decision Makers (BDMs) has driven up the need for business cases to provide quantifiable bottom-line justification. study indicated that 50% of IT budget decisions now require financial business case justification. Earlier this year, the global management-consulting firm L.E.K. Consulting conducted an in-depth review of US IT purchasing trends.
IDC Interview: Financial Justification a Requirement for Technology Buyers
The ROI Guy
OCTOBER 11, 2016
One thing that hasn’t changed is the need for understanding and quantifying the business value outcomes of proposed solutions is a requirement for a whopping 95% of decisions. Buyers are putting less emphasis on features and price, and more on business value outcomes, both on the initial purchase and on renewals as well. The conundrum?
Meeting Objections at the Close of a Sale
Sales Intelligence View
DECEMBER 9, 2012
Furthermore, at the end of a B2B sales cycle, proposals pass by legal departments and through development and finance teams. For example, if customers question your plug in capabilities all the time, find one who’s satisfied, produce a case study, and market it to prospects. Objections almost always arise at the end of a deal. More eyes almost always means more objections.
For Sale, Not On Sale - The True Cost of Discounting and What to Do About It
The ROI Guy
JUNE 29, 2015
There are several reasons why prospects are demanding higher discounts and making it harder for you to achieve your goals: Buyers are more empowered, with on-line / social resources readily available to research your competition and obtain competitive pricing. lack of substantial differences in your solutions and sales / marketing approach are leading you and your competitors to make price the key differentiator. Your proposed investment likely pales in comparison to the cost of not solving the problem, so the key is quantifying this delta. So how bad has it become?
Best Way to Reduce Discounting: Better Negotiating or Value Selling?
The ROI Guy
JANUARY 15, 2015
There is more pressure than ever on suppliers to lower their prices and offer steep discounts. The rise of the B uying Committee has added to price pressure. With little vested interest and with inadequate time to review competing proposals, the team tends to focus on price above much else. And Procurement is getting way more involved in every transaction, with specific incentives to extract discounts from every vendor proposal. Many are a whopping 50-70%! You know you need to address the discounting challenge, but how? The advice from the research?
5 Questions To Ask Before Sending Out That Sales Proposal
Sales Prospecting Perspectives
SEPTEMBER 2, 2010
” “Look at this encryption right here…it’s just beautiful and I’m willing to give it to you for half the price!” ” The pitch is feature and not value focused and then a proposal is given to the prospect, often times without even hearing what the prospect’s full set of needs are. Do not go into a proposal wondering if you are number 2. You will have to drop the price and lower the perceived value of your solution. always like to talk price well before I even get close to a proposal. Happy Hunting
Sellers: How To Calculate Your Value? – The Value Equation
JUNE 2, 2013
You know that your sales pitches and proposals must. Price Versus Value Many buyers have an almost single-minded obsession with price. That makes moving the conversation off price and onto value the seller’s priority. But Communicating your value to today’s hard-nosed buyers can be a real challenge. You know that your marketing literature won’t do it.
E-Quip Blog: Submit a Proposal to Introduce Your Firm?
APRIL 30, 2012
Submit a Proposal to Introduce Your Firm? Ive long advocated that you shouldnt submit a proposal if you havent been talking to the client beforehand. But the most common reason I hear for submitting a proposal cold where theres little to no chance of winning is to "make an introduction." Do you think thats valid strategy? Labels: Business Development , Proposals. Posts.
Are you ready for even more decision makers per deal in 2014?
The ROI Guy
DECEMBER 4, 2013
The research says that for proposals above $500k, there are over 10 stakeholders scrutinizing the decision. For business services, you not only have to appeal to the business leader, but provide a solid business case to the CFO and defend pricing to procurement. Research indicates that there are now over 8 people involved in the average B2B purchase decision.
Banners Don’t Drive Leads in B2B Marketing
Digital B2B Marketing
MARCH 7, 2013
Lead generation is still one of the top objectives of enterprise B2B marketers and many B2B publishers continue to propose banners as a way to deliver leads. Every rule has an exception, in this case the exception is retargeting. With CPMs often below $2.00, price alone makes a huge difference. Period. Banners don’t drive leads. Remember that. Still reading? Your Turn.
RFP Etiquette: Dos and Don’ts for Business Matchmaking
AUGUST 5, 2009
In case you haven’t heard, online marketing and media conversation has been buzzing in recent days over an incident involving a request for proposal (RFP). His post tells of the agency’s chagrin at seeing, via Google analytics, that Zappos viewed only five pages of Ignited’s 25-page proposal (submitted as a blog), with an average page-view time of just 14 seconds. TPC: Without delving into the specifics of this case, David, what’s your overall takeaway? Only the firms that make the first cut would be asked to compose that full proposal. Rules of the RFP Road?
A Primer on Sales Competitive Battle Cards
The Effective Marketer
MAY 27, 2015
Note: In some cases you may create what I call a “competitor profile” which is NOT a battle card per se. Add different search criteria like <competitor name> proposal filetype:pdf to find documents in PDF with ‘proposal’ in them. – site: use the ‘site’ parameter to limit the search to a specific website, like in ‘pricing site:www.acmesoft.com’. Analysis. 4.
7 Creative Examples of Bottom-of-the-Funnel Marketing
MAY 12, 2016
Leads low in the funnel need something beyond the standard pricing info and a few testimonials. Case Studies for Various Industries. To help bottom of the funnel leads better understand how they can use their platform, they’ve created a page loaded with case study resources. Bottom of the funnel marketing is aimed at converting a potential customer into an actual customer.
CFOs are Large and in Charge of Buying Process in 2012
The ROI Guy
NOVEMBER 30, 2011
Price/value relationship (60%) 3. According to survey results, CFO Magazine recommends that vendors must improve the way the communicate with finance executives, particularly dumping the product speak and technology jargon to instead listen to and diagnose customer needs and provide a clear ROI business case. Developing/reviewing business and functional requirements (98%) 2.
Frugalnomics in Effect - Gartner predicts low IT spending growth for 2016
The ROI Guy
MARCH 1, 2016
Economically Focused – today’s IT buyer is more frugal, with over 95% of technology purchase decisions now requiring a formal business case, with quantifiable ROI and fast payback (IDC). The research shows that 81% expect your sales reps to deliver a credible business case in order to win the deal. So how well do you deliver the financial business cases / ROI that CFOs demand?
An SEO’s Guide to Bottom-of-Funnel Keywords
OCTOBER 21, 2016
This isn’t always the case, but in general (and depending on your sales cycle) it can be a strong indicator. These can take on many forms such as; Purchasing related keywords e.g., “RFP” or “proposal” or “quote”. Comparisons, cost, and pricing terms. Case studies. Keyword research is an important part of search engine optimization (SEO). Top of Funnel: Awareness. Buy +.
B2B Sales Cycle: 4 steps to avoid the wasteful ‘no decision’
B2B Lead Generation Blog
JUNE 17, 2012
healthy sales cycle, one that is well aligned with prospects’ buying cycles, will enable sales professionals to find out very early if their solutions fit their customers’ needs, and if there’s a strong enough business case to get the purchase approved. Here, customers can click to find more information, whether it’s pricing, research, terms and conditions, or competitive analyses. When prospects finally call, the sales rep better not say, ‘Do you want to talk about pricing? That’s more than one in every four deals! No deal = broken sales cycle. Interview your customers.
The Three E's of Boosting Sales Productivity
The ROI Guy
MAY 1, 2014
We recently attended the SAVO Summit in Chicago, a gathering of over 600 leading sales enablement, sales and marketing analysts, executives and partners (including Alinean) to share the latest research, exchange ideas and learn new best practices. The current strategies of revenue growth via hiring more sales reps and throwing a ton of training and content at them are less than productive.
How to Match Great Content to Your Sales Funnel
It's All About Revenue
JULY 20, 2015
Whether it's product-related webinars or case studies, content is still high level and helpful, but it's more actionable when it comes to your offering. 3. This is the point where sales decks, presentations, proposals, and pricing come into play. In the B2B marketing world, the buying cycle is long. Navigating the Sales Funnel. 1. Top of the Funnel. Content Marketing
Sales Leadership: Has your team watched Pawn Stars?
Your Sales Management Guru
MARCH 17, 2013
In both cases I recommended that each salesperson should watch two episodes of Pawn Stars, a popular show on the History Channel. What I want the salespeople to see is the owner; Rick, review the items people are bringing in, determine their real value to him, sets a price in his mind that he will pay and then begins to negotiate with the person selling the item to the store. In some cases he brings in an “expert” to help he set that value. Sales Leaders: Has Your Team Watched Pawn Stars? What were those comments? We work “opportunities” not deals. 3f4qb8v9ge.
5 Powerful Tips to Create an Amazing Call to Action
OCTOBER 12, 2016
And in most cases, these changes aren’t the big stuff; they mean swapping out a few words, changing the color or simply rearranging placement. Only 27 percent selected the 1-cent Hershey’s Kiss, even though it was priced much lower than the Lindt truffle. He made the Hershey’s Kiss free and dropped the price on the Lindt truffle to 14 cents. Select Proven Words. Because. Don’t.
Death of a Salesman? Forrester says Yes.
The ROI Guy
MARCH 12, 2015
Forrester outlined four archetypes, and which ones are at most risk: Order takers – transactional B2B sales reps are most at risk of being displaced by an online buying experience that makes it easy to obtain personalized recommendations, price / configure and purchase, often creating less friction in the buying process when compared to working with the Order Taker.
Don't play the RFP budget cat-and-mouse game
NOVEMBER 4, 2010
Mistaken belief in receiving lower prices Organizations believe that if you provide vendors with your budget, that they will almost certainly charge the maximum amount that your budget allows, and we hear that mistaken justification almost every time. If a vendor knows they are going into a competitive bid process they're going to give you their best price for the project since they're afraid to lose out to a less expensive competitor. quality proposal from a quality company requires that they fully understand the scope of the project, and budget is a large factor in scope.
SMB a New Year Bright Spot for IT Sales and Marketing?
The ROI Guy
NOVEMBER 14, 2011
Leveraging research white papers, case studies and diagnostic assessments, sales and marketing can help increase opportunity awareness and prioritize that important IT infrastructure or business solution. 2) Risk Adverse – small businesses have to get the most out of every investment, and although they are more optimistic than larger enterprises, remain risk adverse, fearful that they might make a wrong project bet. Tip #3: Elevate the Discussions beyond Initial Purchase Price : In a price-focused environment, discounts will gain attention and often can be enticing to frugal buyers.
Call To Action: Close Your Buyer Journey Gaps
JULY 2, 2015
Prospects interact with our brand as a single entity; from the home page of our website to our hold music to pricing negotiations with sales – it’s all one brand. Case in point above: I ended up purchasing a treadmill. From pricing promotions to proposal templates marketing is a key participant in this stage of the journey. However, our buyer is not so discerning.
Can Your Sales Reps Handle these Four Key Buying Objections?
The ROI Guy
FEBRUARY 23, 2015
To them, your proposal sounds good, but how do they know you can actually deliver on the promises you are making. According to Jim, you hope that a drawback comes later in the buyer’s journey, during the decision phase, where the buyer has to justify the purchase decision and make a specific vendor / proposal decision. They want to buy, but want proof. Why Now
Marketo Conference: Small Changes, Big Picture
Customer Experience Matrix
APRIL 10, 2014
The appeal of the platform model is obvious: platform systems are quasi-monopolies (or actual monopolies), so their owners can charge high prices while the app developers compete brutally with each other and must keep prices low. In the case of customer management, the big question is whether the marketing system should be separate from sales and service systems. Fair enough.
Why Meaning Matters More than Noise
B2B Marketing Unplugged
NOVEMBER 17, 2015
Jiwa proposes that great brands are much more than relevant; they are transformative at a personal level: “Every successful business creates a new kind of customer. ” Tesco got caught in this eddy in recent years, when its focus on loyalty programs distracted it from the reality that customers were looking for lower prices and fewer gimmicks. Meaningful has to cut both ways.”.
What is an Interactive White Paper?
The ROI Guy
SEPTEMBER 13, 2011
Qualitative content, customized interactively for the white paper, can include: Case studies aligned to industry, geographic location and size Product recommendations based on pain points and intelligent solution recommendations Customized competitive comparisons to other solutions being considered Benefit statements aligned to the prospects role in the buying cycle N ext step recommendations based on the buyers stage in the buying cycle. More relevancy improves the white paper’s effectiveness at attracting, engaging and selling today’s more overloaded, skeptical and frugal buyer.
Three Big Myths Debunked at SiriusDecisions Sales and Marketing Summit
The ROI Guy
MAY 19, 2015
Customize the presentation in PowerPoint Review and update the pricing, quote and proposal Before leaving for the sales call, check Google maps to see how long it will take to get there, and find a nearby coffee shop And you can expect a similar set of activities post meeting. Build sales content into the device, as well as the ability to configure quotes and proposals in real time.
The Importance of Business Research for Your Firm: Top 10 Questions to Drive Growth & Profitability
AUGUST 17, 2015
In either case, ignorance of true competitors seldom helps you compete. 4. How should you price your services? In my experience, most firms overestimate the roll price plays in buying decisions. Perhaps it is because firms are told that the reason they don’t win an engagement is because of price. Think about that for a minute. Faster growth and more profit.
7 Negotiation Techniques That'll Boost Your Power at the Bargaining Table
MARCH 18, 2015
It feels like the client has all the power once you send the contract or proposal over. When the client starts asking you to cut this price or change this timeline, you do so because you don''t want to lose the account. Can he find another agency with your expertise and experience at the price he wants to pay? Consider these two questions: What price would work for you?
How will the Economy Affect the Buyer’s Decision Process in 2012?
The ROI Guy
NOVEMBER 30, 2011
Frugalnomics is in full effect, leaving few resources to evaluate opportunities and the organization risk adverse to change, giving more control to finance and requiring more economic justification on each proposal. Finance in particular has become more involved in economic justification and the final vendor selection process, providing more price pressure and financial diligence.