book

High-Profit Selling: Win the Sale Without Compromising on Price

by Mark Hunter

February 2012

Intermediate to advanced

272 pages

5h 26m

English

AMACOM

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What Is This Book Worth to You?To Maximize Profit, Change How You View Your CustomersIt’s Time to Look in the MirrorYour Confidence Drives Your AttitudeCan a Company Asking a Higher Price Really Win?People Don’t Buy—They Only InvestForget About Your Competition
Are You Chasing the Shiny Object?Do You Think “Profit” Is a Dirty Word?How Do We Define Profit?What Does “Immediate Profit” Mean?What Is Your Customer Worth Down the Road?Calculate Your Customer’s Profitability Sustainability FactorA Big Order at the Wrong Price Isn’t Worth ItIntellectual Profitability Adds UpMinimize the Profit Takers“Profit” Is a Beautiful Word
Chasing the Shiny ObjectDetermining the Customer’s Needs and BenefitsSeparating Good Information from BadWhat We Can Learn About Needs and Benefits from AppleUsing Follow-Up Questions to Categorize a Customer’s NeedsNeeds? Benefits? What’s the Difference, Anyway?
Forming Real Value Around PriceCreating the Price PointThe Power of the Ultra-Price PackageUltra-Prices and a Salesperson’s BeliefsThe “No Negotiation” PhilosophySales Managers: Don’t Empower Salespeople to Give Away ProfitWhere Does the “No Negotiation” Policy Work Best?Rules for an Effective “No Negotiation” PolicyMaking the “No Negotiation” Policy Work, Despite So Many RulesUsing Time to Drive Value
Past Growth Doesn’t Guarantee Future GrowthFinding New Customers Is Not an Optional Job ActivityProspect or Suspect? Do You Know the Difference?Is Prospecting Ingrained in Your Daily Routine?Can’t Prospect? Then You Can’t SellWhat Is a Prospect?Not All Prospects Are Created EqualAssumptive vs. InquisitiveTactical Comments and Questions: The Price SqueezeStrategic Questions Lead to Long-Term RelationshipsAim High When ProspectingMake Prospecting Part of Your Daily RoutineHoliday ProspectingJust Do It

How Professional Buyers Use SilenceGive Control to the CustomerHow to Use Your Personality to Ask QuestionsQuestions That Work for YouHow Much Time Do You Talk on a Sales Call?Tactics Buyers Use to Speed Up the Sales CallWhy Salespeople FailAn Example of Not ListeningLearn Your Customer’s LanguageThe Best Follow-Up QuestionsPut the Pride Aside: It’s Costing You MoneyExpand Your Question ListDo You Respect Your Customer?The Two-Second PauseClose Too Fast and You Lose ProfitThe More the Customer Talks, the More You’re Prepared for the Next Sale, TooKeep Your Eye on the Prize
Why Preparation Is EssentialPreparing a Sales Presentation Does Not Mean You Will Use ItDo You Know Your Presentation or Do You Know Your Content?What About Skipping the Presentation on the Phone?Always Respect TimeDeveloping Your PresentationHow Many Calls to Close a Sale?
The Customer Is Seeking Knowledge, TooLeveraging KnowledgeFalse FactsHow Do You Track Customer Information?Visiting the Senior OfficerUsing Information to Gather OpinionsValidating InformationThe Power of Sharing Your InformationKnowledge Can Help Open the Next SaleKnowledge vs. InformationYour Competitor May Have the Same InformationYour Knowledge Helps Create TrustYour Knowledge Can Create a Long-Term Relationship
China and the Sales CatalogHow the B2B Selling Process Has ChangedPutting Your Information OnlineGetting the Right Information on the Internet“Vendor Validation”Becoming a Thought LeaderTime Well Spent
What Language Do They Speak?Attributes Needed to Connect with the C-SuiteConnecting with the CEO DirectlyThe 12 × 12 ApproachConnecting with the CEO by Way of a ReferralDealing with the BlockersMeeting with the CEOC-Suite Relationships Are Insurance PoliciesC-Suites Are Research Departments
You Need to Be Blunt with the CustomerHow Should You Respond to Objections?Responding to the Request for a Reduction in PriceWhat Do You Do About the Persistent Customer?Getting Customers to Focus on Their Needs, Not Your PriceThe Customer Is in No Rush to BuyDon’t Try to Push the Customer with a Limited-Time DiscountSell First, Negotiate Second
The Ten-Step Process to Execute a Price IncreaseStep 1: Know Your Strategy and What the Price Increase Is Going to AccomplishStep 2: Sell the Objective of the Price Increase to People Inside the Company, Particularly the Sales ForceStep 3: Determine and Isolate the Customer’s Key Benefits (They Help Sell the Price Increase)Step 4: Understand the Customer’s Decision-Making Timeline and How It May Impact Plans to Communicate the Price IncreaseStep 5: Isolate Key Contacts Within the Customer’s CompanyStep 6: Develop Data and a Fact-Driven Point of View (FDPOV)Step 7: Signal to the Customer the Expectation That a Price Increase Might Be ComingStep 8: Formalize Expectations and Goals with the Sales Force for Each CustomerStep 9: Present the Price Increase to Customers and Gain Their CommitmentStep 10: Reinforce the Price Increase by Sharing the FDPOVTen Steps to More Profit
Who Is the Professional Buyer?The New VendorUnderstanding How the Buyer OperatesWarehouse Tours and the BuyerLearning the Customer’s Computer SystemMy Three Hours with a BuyerDo Outside Meetings Include Any Risk for You?Understanding a Buyer’s ObjectivesVendor Letters and RequestsIncreasing Your Margin on Friday Afternoon
Are RFPs a Good Use of Your Time?Benefits of the Small RFPWriting the RFP Gives You the Upper HandStep 1: Determine Your StrategyStep 2: Develop Your Minimum/Maximum StandardsStep 3: Develop Your OptionsStep 4: Gain Information from the Customer and OthersStep 5: Respond and Get the MeetingThe Value of a Follow-Up MeetingBid Selection Renegotiation
One Percent Continuous Improvement ProcessSmall Changes Equal Big ImprovementYour Windshield Is Talking to YouRecovering from the Bad Sales CallAlways Be LearningStrategically Planning Your WeekSetting Weekly Goals to Build Off Your SuccessesRecording Your Goals and AccomplishmentsFurthering Your Knowledge and ExpertiseRecommended Websites

Overview

In the high-pressure quest to make a sale, acquire a contract, and beat out other bidders, sales professionals frequently resort to cutting prices, offering discounts, or making other concessions that cut into their operating margins short-term strategies that are destructive to the long-term sustainability of their business.

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Publisher Resources

ISBN: 9780814420096