The Sales Hunter

MAY 7, 2013

A lot of salespeople and small business owners will say they need to discount their price to get a sale. The problem is trying to discern the difference between discounting your price to create cash flow versus using it as a lousy excuse to validate your inability to close a sale any other way. Think about this.

Discount 194

Discount Strategy Margin Small Business 194

Hubspot Sales

JULY 24, 2018

A discount can help accelerate a slow-moving deal, create goodwill, and give you leverage for requesting concessions. But you’ll only reap these benefits by discounting strategically -- not whenever your prospect asks for one. Of course, responding to discount inquiries during the actual negotiation is challenging too.

Discount 111

Discount Prospecting Negotiation Margin 111

Sales and Marketing Management

MAY 16, 2013

Teaser: Protecting your pricing and margins requires a disciplined, well-planned approach throughout the customer acquisition process. Protecting your pricing and margins requires a disciplined, well-planned approach throughout the customer acquisition process. Columnist Tim Riesterer discusses plugging value leaks.

Discount 197

Discount Margin Strategy Customer 197

Force Management

MARCH 9, 2023

Rising economic headwinds mean that many buyers are adopting more complex purchasing processes, and sales organizations are looking for any way to preserve vital margins. As a sales leader, you don't want your sellers resorting to discounting to close deals in this environment.

Negotiation 112

Negotiation Margin Discount Competition 112

Pipeliner

APRIL 1, 2019

I can’t think of any concepts more misunderstood than price, pricing, and discounting. Let’s discuss five myths about pricing, and its Mr. Hyde alter-ego, discounting. Cost-plus pricing (your costs, plus some margin should equal price) is only useful to set a minimum, or a walkaway, not your actual price. Get better.

Discount 73

Discount Margin Policies Vendor 73

Anthony Iannarino

DECEMBER 18, 2019

Every year, at about this time, salespeople and their companies begin the process of offering discounts to their prospective clients as a way to compel them to sign a contract before the end of the year. But if they are going to buy anyway, why don’t they take advantage of the discount you offer them? Better Strategies.

Discount 65

Discount eBook Motivation Closing 65

Janek Performance Group

JANUARY 16, 2024

Gross-Margin or Profit-Based Commission A slightly more complicated plan that considers the true profitability of an organization. This strategy is often employed to reduce discounting that may hurt the company’s bottom line. It may require accurate tracking of costs, discounts, and other factors influencing profitability.

Compensation 118

Compensation Salary Commission Margin 118

MTD Sales Training

DECEMBER 16, 2019

Being able to negotiate effectively is one of the most important skills you can build in your sales armoury, as it has a direct effect on your margins and overall profitability, as well as ensuring your customers get the best service possible. Concentrate on Interests not Positions. Are they looking to reduce their overall costs?

Negotiation 211

Negotiation Margin Discount Face-to-face 211

The Pipeline

JUNE 18, 2020

If they had planned an overhaul of their materialize management, one that would add capacity and margin. But if all you have is a discount and a free feature, you’re beat. You need to win over their minds and hearts, no one will risk their job for a 5% discount. They are working their plan, on time, things are moving.

Discount 297

Discount Quota Face-to-face Margin 297

Cincom Smart Selling

FEBRUARY 21, 2017

Consider that a 1% reduction on the expense line shows up as a 4% increase in margin on the profit line. Let’s look at several sales tools and see how they impact the profit margin for a given sale. The post Boosting Margin with Sales Tools appeared first on Cincom Blog. Sales Tools Are Efficiency Tools.

Margin 66

Margin Sales Tools Tools Sales Qualified Lead 66

Cincom Smart Selling

APRIL 25, 2016

UK entrepreneur, James Caan, CBE, isolates three areas where profit margin can be addressed. But what about margin? CPQ also has a positive impact on margin by increasing the velocity of the sale, reducing the pricing and configuration errors made during a selling cycle and with reduced likelihood of manufacturing defects.

Margin 63

Margin Up-Sell System Discount 63

The Sales Hunter

MARCH 16, 2013

You are about to close and then the customer asks for a price discount. If you rely on a price discount to close a sale once, you will do it again and again. You risk so much when you give into the temptation to close a sale by discounting price. Sure, you’re tempted. But don’t do it!

Discount 187

Discount Closing Video Motivation 187

The Sales Hunter

OCTOBER 17, 2014

Confident salesperson = Higher margins. Blog pricing Professional Selling Skills discount discounting price sales discounting' Blog pricing Professional Selling Skills discount discounting price sales discounting'

Discount 230

Discount Margin Selling Skills Closing 230

The Pipeline

FEBRUARY 3, 2014

Sellers who are paid on revenues only, are more likely to discount, and advocate for the buyer, rather than drive mutual value. As we all know, a $500 discount on a $10,000 piece of equipment, can have little impact on what the reps gets paid, but could be a huge part of the gross or net margin.

Incentives 244

Incentives Incentive Discount Margin 244

Cincom Smart Selling

AUGUST 3, 2016

Ultimately, margin is what it’s all about. If you can show that you are moving the needle in a positive way regarding margin, you are going to have a lot of friends in the executive suite. Market share and customer satisfaction are important, but only margin equals money in the bank. Margin is the goal. There are lots.

Margin 48

Margin Sales Enablement Top of Funnel Comparison 48

The Sales Hunter

APRIL 25, 2013

Are you willing to walk away from a customer who is persistently asking for a price discount? Maybe you’re near your quota and discounting your price “this one time” with this customer will give you the boost you want. Plus, if you start discounting with one customer, you’re more likely to do with the next.

Discount 272

Discount Customer Margin Consultative Selling 272

Hubspot Sales

DECEMBER 26, 2023

src="[link] style="margin-left: auto; margin-right: auto; display: block; width: 650px; height: auto; max-width: 100%;" title=""> Image Source And as of 2022, Statista noted that X’s largest user age group lies in the 25–34 range. But who is the audience on X? compared with 31.9%

Twitter 88

Twitter Margin Social Media Ideal Customer Profile 88

Pipeliner

MARCH 28, 2023

Cash vs. Margin Brokerage Accounts Cash Accounts As the name suggests, cash accounts require you to have the funds available in your account before making a trade. One potential downside to cash accounts is that you can’t take advantage of margin or leverage to potentially increase your returns.

Account 52

Account Margin Commission Discount 52

Sales and Marketing Management

MARCH 30, 2020

If a goal of your sales team is to make better deals, faster and at better margins, then you must read (and follow) these five tips: . A vendor asks about your profit margins and why you can’t pay more for his service. What margins do your other vendor’s typically maintain? Or, how does that compare with your margins?” .

Negotiation 279

Negotiation Margin Proposal Maximizer 279

Distribution Pricing Journal

SEPTEMBER 21, 2023

Understanding Price Reduction Discounting is a familiar tactic when trying to win large jobs in distribution. You also risk creating an expectation with all your customers that another discount is around the corner. It also gives you a chance to take advantage of supplier discounts without lower other prices.

Discount 52

Discount Distribution Customer Tourism 52

Distribution Pricing Journal

OCTOBER 2, 2023

The distribution industry traditionally faces low margins in each sale. How Rebate Automation Changes the Game Some distributors count on rebates for as much as 60% of their total margins. These might involve price reductions, special discounts and rebates. Or you might underestimate your margins leading to lost sales.

Margin 52

Margin Distribution Face-to-face Incentives 52

Partners in Excellence

DECEMBER 15, 2015

” It was challenging, but I couldn’t go to my management complaining, “We need to give them a discount,” or “We are just too expensive.” I started to focus on TCO, total cost of ownership, recognizing, that even if I could do some discounting, often these had a relatively small impact on TCO.

Discount 48

Discount Competition Face-to-face Margin 48

The Pipeline

APRIL 6, 2021

Doing a much better job selling the manager on the discount than selling the value to the prospect. While it is the company who feed and clothe the rep, many place their employer’s margins as less important. Yet they are willing to fight for a discount every time, no matter the profit erosion.

SME 299

SME Lead Rank Lead Scoring Discount 299

Pipeliner

AUGUST 21, 2023

Offering discounts in every email trains customers to never pay full price and eats into profit margins. This constant bombardment of discounts also cheapens the value of the products or services being sold. Another mistake is not finding the right email frequency.

Scale 97

Scale Strategy Marketing Lead Rank 97

Understanding the Sales Force

MAY 10, 2023

Instead of discounting, get better at selling value. Anyone who knows how a company’s economic engine works, knows that if you pay a salesperson $150,000 and they generate $1 million at a 40% margin, the company will get a return of $250,000 on their investment. Yes, but it’s counter-intuitive. What’s not to like?

Revenue 156

Revenue Hiring Decision Maker Cancellation 156

SBI Growth

SEPTEMBER 3, 2018

How do you influence sales people when you don’t directly impact their compensation? This is an age-old struggle many firms have had with the indirect channel…. The key we have found is to understand two key factors important to indirect.

Channels 153

Channels Discount Compensation Strategy 153

Janek Performance Group

MARCH 1, 2023

“I just closed a deal with a 60 percent gross margin!” What’s the net margin? The salesperson looked confused and asked, “Net margin, what’s the difference?” But the net margin is what you take home after taxes.” I’m curious what your net margins are on an average deal?” “On

Margin 62

Margin Decision Maker ROI Hiring 62

MTD Sales Training

NOVEMBER 4, 2011

Offering a discount to help motivate the prospect can often be a powerful inducement to close a few more sales. Offering a discount is a delicate issue and you should only use it as a last resort. Stand firm on your original price, and close on it at least three times, before even thinking about a discount. . Stand Firm 3x.

Closing 303

Closing Discount Referrals Margin 303

Sales Hacker

OCTOBER 7, 2020

Margin compression is a huge obstacle to overcome in a down economy. Consider switching up your compensation plan if you have a product with tightening margins or if margins need to be defended. One thing you can try is to comp your reps on profit margin instead of on revenue. Adjust Your Compensation Plan.

Hiring 103

Hiring Salary Margin Compensation 103

SalesLoft

JULY 1, 2013

Quite often, sales discounts are used to simply make a sale where you wouldn’t otherwise. Not only does it set a faulty precedent in which discounts become expected, but it completely cuts your profit margin. Unless providing discounts is a specific part of your sales process, it can completely disrupt your revenue goals.

Discount 52

Discount Margin Incentives Incentive 52

Sales Evangelist

JUNE 21, 2019

We’ve all encountered price wars against the lowest bidder, but today we’re going to talk about how you can stand your ground, protect your margins, and earn the price that you’re worth and how that will help you grow your business. Human beings are trained to seek deals and discounts. Audio provided by Free SFX and Bensound.

Margin 65

Margin Hiring How To Consumer 65

Cincom Smart Selling

FEBRUARY 15, 2021

Produce higher margins. Reduce the number of approval steps such as rules and constraints on discounts. During this session, we will explore and provide insights around the ways manufacturers can: Reduce quote time. Reduce errors in quotes. Increase sales dollars per quote, and quote volume. Date: February 18.

Microsoft 118

Microsoft Margin Discount Twitter 118

The Sales Hunter

JANUARY 21, 2014

Key is to know what you might offer before you present anything and make sure whatever is offered does not negatively impact your price or profit margin. Blog pricing Professional Selling Skills discount discounting negotiating negotiation price' Use the presumptive closing technique. ” There they are.

Negotiation 244

Negotiation Discount Margin Selling Skills 244

Hubspot Sales

AUGUST 14, 2023

If you find yourself in this situation, don't be quick to chase down your buyer — doing so can weaken your negotiating position, and a pushy “just checking in” email can hurt your margins. Buyers have a responsibility to negotiate, and you have a responsibility to protect the margins and avoid discounts.

Closing 120

Closing Proposal Negotiation Discount 120

Canidium

AUGUST 11, 2020

It’s the check and balance mechanism that can help protect profit margins from over discounting and ensure the quality of complex products is being proposed. Approving a sales quote is a crucial and common requirement for most companies.

SAP 69

SAP Company Benefit Margin 69

Customer Centric Selling

DECEMBER 10, 2012

Sales Training Article: Why Are Your Deals Bleeding Margin? By John Kenney, Sales Benchmark Index (SBI) This blog post is for those who sometimes find their sales teams negotiating against themselves, closing dirty deals to make quota, or finding their margin-rich transactions disintegrate at the end of quarter.

Margin 40

Margin Negotiation Proposal Face-to-face 40

Hubspot Sales

MAY 5, 2023

In times of economic uncertainty, it can be tempting to slash prices and offer deep discounts. While some discounting is normal, it's important to approach this strategy with caution. You don't want to devalue your product or hurt profit margins too much.

Consumer 100

Consumer Trends Strategy Data 100