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Is your sales team armed to sell and negotiate to protect your pricing in the face of predatory competitors, aggressive purchasing managers, and pressure from their own managers to “hit the numbers?”
In today’s turbulent business environment, it is tempting make premature price concessions to win business. Yet according to research from McKinsey & Company a 1% price reduction generates an 11% decrease in operating margins for the typical Global 1200 company. With so much on the line, it is not surprising that sales leaders are focusing on securing price increases or defending current price levels or that buyers are pushing back with new intensity for lower prices.
Securing profitable pricing is more than just a challenge for the sales organization. Securing profitable
pricing is also a mission-critical profitability issue for corporate management. And yet in most organizations pricing is set by marketing, announced by executives, but then executed…often ineffectively…in front of customers by the sales team.
This complimentary white paper from BayGroup International provides new insight for sales leaders in this important area. It describes:
- Key factors driving the decline of pricing power in most markets.
- Four critical points in the typical sales process where new discipline and skill are needed to preempt, address, and negotiate more profitable pricing…and what sales professionals need to do differently to succeed at each one.
- Three areas where sales management can focus to keep the sales team focused on selling value, not price.
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