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.
Table of contents
- Cover Page
- Title Page
- Copyright Page
- Chapter 1: You Are Hurting Your Profit
Chapter 2: “Profit” Is Not a Dirty Word
- 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 Factor
- A Big Order at the Wrong Price Isn’t Worth It
- Intellectual Profitability Adds Up
- Minimize the Profit Takers
- “Profit” Is a Beautiful Word
- Chapter 3: Use Needs and Benefits to Command a Higher Price
Chapter 4: Creating Real Value Using Your Price Point
- Forming Real Value Around Price
- Creating the Price Point
- The Power of the Ultra-Price Package
- Ultra-Prices and a Salesperson’s Beliefs
- The “No Negotiation” Philosophy
- Sales Managers: Don’t Empower Salespeople to Give Away Profit
- Where Does the “No Negotiation” Policy Work Best?
- Rules for an Effective “No Negotiation” Policy
- Making the “No Negotiation” Policy Work, Despite So Many Rules
- Using Time to Drive Value
Chapter 5: Prospecting That Works
- Past Growth Doesn’t Guarantee Future Growth
- Finding New Customers Is Not an Optional Job Activity
- Prospect or Suspect? Do You Know the Difference?
- Is Prospecting Ingrained in Your Daily Routine?
- Can’t Prospect? Then You Can’t Sell
- What Is a Prospect?
- Not All Prospects Are Created Equal
- Assumptive vs. Inquisitive
- Tactical Comments and Questions: The Price Squeeze
- Strategic Questions Lead to Long-Term Relationships
- Aim High When Prospecting
- Make Prospecting Part of Your Daily Routine
- Holiday Prospecting
- Just Do It
Chapter 6: Sell More by Talking Less
- How Professional Buyers Use Silence
- Give Control to the Customer
- How to Use Your Personality to Ask Questions
- Questions That Work for You
- How Much Time Do You Talk on a Sales Call?
- Tactics Buyers Use to Speed Up the Sales Call
- Why Salespeople Fail
- An Example of Not Listening
- Learn Your Customer’s Language
- The Best Follow-Up Questions
- Put the Pride Aside: It’s Costing You Money
- Expand Your Question List
- Do You Respect Your Customer?
- The Two-Second Pause
- Close Too Fast and You Lose Profit
- The More the Customer Talks, the More You’re Prepared for the Next Sale, Too
- Keep Your Eye on the Prize
- Chapter 7: Skip the Sales Presentation
Chapter 8: Leverage Knowledge to the Fullest
- The Customer Is Seeking Knowledge, Too
- Leveraging Knowledge
- False Facts
- How Do You Track Customer Information?
- Visiting the Senior Officer
- Using Information to Gather Opinions
- Validating Information
- The Power of Sharing Your Information
- Knowledge Can Help Open the Next Sale
- Knowledge vs. Information
- Your Competitor May Have the Same Information
- Your Knowledge Helps Create Trust
- Your Knowledge Can Create a Long-Term Relationship
- Chapter 9: Sell More Without Even Being There
- Chapter 10: Selling to the C-Suite
Chapter 11: How to Handle Price Objections
- You Need to Be Blunt with the Customer
- How Should You Respond to Objections?
- Responding to the Request for a Reduction in Price
- What Do You Do About the Persistent Customer?
- Getting Customers to Focus on Their Needs, Not Your Price
- The Customer Is in No Rush to Buy
- Don’t Try to Push the Customer with a Limited-Time Discount
- Sell First, Negotiate Second
Chapter 12: Executing a Price Increase
- The Ten-Step Process to Execute a Price Increase
- Step 1: Know Your Strategy and What the Price Increase Is Going to Accomplish
- Step 2: Sell the Objective of the Price Increase to People Inside the Company, Particularly the Sales Force
- Step 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 Increase
- Step 5: Isolate Key Contacts Within the Customer’s Company
- Step 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 Coming
- Step 8: Formalize Expectations and Goals with the Sales Force for Each Customer
- Step 9: Present the Price Increase to Customers and Gain Their Commitment
- Step 10: Reinforce the Price Increase by Sharing the FDPOV
- Ten Steps to More Profit
Chapter 13: Purchasing Departments and the Professional Buyer
- Who Is the Professional Buyer?
- The New Vendor
- Understanding How the Buyer Operates
- Warehouse Tours and the Buyer
- Learning the Customer’s Computer System
- My Three Hours with a Buyer
- Do Outside Meetings Include Any Risk for You?
- Understanding a Buyer’s Objectives
- Vendor Letters and Requests
- Increasing Your Margin on Friday Afternoon
Chapter 14: RFPs and RFQs: The Bidding Process
- Are RFPs a Good Use of Your Time?
- Benefits of the Small RFP
- Writing the RFP Gives You the Upper Hand
- Step 1: Determine Your Strategy
- Step 2: Develop Your Minimum/Maximum Standards
- Step 3: Develop Your Options
- Step 4: Gain Information from the Customer and Others
- Step 5: Respond and Get the Meeting
- The Value of a Follow-Up Meeting
- Bid Selection Renegotiation
Chapter 15: Position Yourself to Continue Earning High Profits
- One Percent Continuous Improvement Process
- Small Changes Equal Big Improvement
- Your Windshield Is Talking to You
- Recovering from the Bad Sales Call
- Always Be Learning
- Strategically Planning Your Week
- Setting Weekly Goals to Build Off Your Successes
- Recording Your Goals and Accomplishments
- Furthering Your Knowledge and Expertise
- Recommended Websites
- Title: High-Profit Selling: Win the Sale Without Compromising on Price
- Release date: February 2012
- Publisher(s): AMACOM
- ISBN: 9780814420096
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