Ask any salesperson why they lost a deal and you will likely hear a story about a competitor with a lower price, a client that wouldn’t perceieve the value they created, or something about their pricing structure not taking market conditions and competitor pricing into account.
Ask any buyer why they bought from the salesperson and sales organization they chose, and you will hear that the salesperson listened to their needs, collaborated with them around those needs, and developed trust. If they mention price at all, you will often hear something about how the person they bought from wasn’t the cheapest, but that they were the best choice.
Why this disparity?
It’s easy to believe you lost on price. It means that it wasn’t a lack of value created; it was the buyer’s irrational decision. It’s true that some buyers use price as the primary factor when making a decision, but it is more rare than we like to believe.
When a buyer doesn’t percieve more value, they are right not to pay more. But what are the activitites that lead to a greater perception of value? When you ask buyers you hear answers that include “listening,” “really understanding our needs,” “having developed the trust of the whole team,” “working to make it fit” their organization, and believing that the salesperson will deliver for them.
How do you tilt the playing field in your direction? You get there early, and you create value before claiming any. You spend time meeting with people, listening to them, and understanding their needs. You work to make adjustments to your solutions. You prove by your actions that you can be counted on to deliver what you promise.
The last deal you won, did you win on it price? Or was it something else?
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Filed under: Sales 3.0