Selling the Price Increase

13The Price Increase Sales Process

Imagine you are in a small, intimate arena. On the floor, in the center are two chess masters, locked in a head-to-head, winner-takes-all match. Every seat in the arena is filled, yet there is total silence as each master carefully calculates the win probability of the next move.

In chess, every move has a win probability. It's a simple matter of statistics based on what's on the board. Calculating the win probability of each move is how chess masters play and win the game. It's also the key to winning the price increase game. In this game, winning means maximizing the price increase without losing orders or the account.

Bend Win Probability in Your Favor with Negotiable Price Increases

As you approach negotiable price increases, every move and every message should be calculated to reduce resistance and improve the probability of securing the maximum price increase. These are moves that position you to win:

• Earn the price increases through managing your accounts, investing in relationships, and constantly delivering value.
• Avoid egregious mistakes that lead to resentment and contempt.
• Leverage the status quo bias and make breaking up with you hard to do.
• Target and shift your approach based on risk profiles.
• Follow a professional sales process for proactive price increase conversations.
• Use effective messaging and business case presentation frameworks.

Most importantly, you must maintain emotional discipline and approach price increase ...