Marginalize Objections Before They Come

The Pipeline

Sure we should be able to leverage the same process that you do in handling the five most common objectives we face while prospecting. But with many, you can get ahead of them, and marginalize them before they become a factor. By Tibor Shanto.

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What Is Net vs. Contribution Margin?

Selling Energy

The more you understand “ net margin ” and “ contribution margin ,” the more confident you will be discussing these topics with a prospect, whether it’s a CFO, a business manager, or a sole proprietor.

3 Ways to Minimize or Marginalize Objections – Sales eXecution 240

The Pipeline

A big sticking point was when the prospects said “oh we’re too small”. This did not eliminate the usual objections, but it marginalized a big hurdle, and allowed the conversation to move past it easily, and allow it to unfold in more familiar ground.

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WITCE Wednesday — Gross Margin

A Sales Guy

I talked about the profit and loss statement in an earlier post, but wanted to tackle gross margin today. Gross margin is a part of the P&L statement and if you’re in sales it’s important to understand for both YOU and YOUR customers and prospects. Simply put, gross margin is the difference between the revenue a product or service creates and the cost of creating that product or service. The higher the gross margin the better the business.

Four Ways CPQ Improves Profit Margins

Cincom Smart Selling

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. Faster Selling Cycle – CPQ makes the early stages of your sales discussion far more useful than breaking the ice with your new prospect.

Boosting Margin with Sales Tools

Cincom Smart Selling

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. I knew a rep who again and again asked for lease quotations for a prospect whose credit was non-existent. The rep could not understand that the only reason the prospect was talking to him was that our competition wasn’t wasting their time talking to this deadbeat.

Are You Being Too Accommodating to Your Customers?

The Sales Heretic

As a keynote speaker and seminar leader, I have evangelized the importance of taking care of the customer in every step of the sales process from prospecting through [.]. You’d be hard-pressed to find a bigger advocate of good customer service than yours truly.

The Cause of Bleeding Margins

Customer Centric Selling

Sales Training Article: Why Are Your Deals Bleeding Margin? The prospect, Phil, had agreed to the solution details and was bought in. Why Stan Lost His Deal Margin Stan and his sales team followed their buyer-centric selling process.

6 Practical Tips for Protecting Profit Margin

The Brooks Group

In order to maintain a healthy profit margin, you must reinforce the importance of value within your sales culture. Keep in mind these 6 tips for protecting profit margin: 1. Build a sales compensation plan that focuses on gross margin, not volume.

Strategic Salesperson vs. Tactical Salesperson

The Sales Hunter

And it can be the difference between selling at a low margin short-term and selling at a high-margin long-term. Too many salespeople are what I refer to as tactical salespeople. Opportunity, however, lies in being a strategic salesperson. I believe the difference is huge!

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Why Profitability Matters When Creating, Maintaining, and Renewing Customer Prices

Smart Selling Tools

Customer-Specific Prices: The Silent Source of Margin Leakage. In fact, it’s not uncommon in Zilliant’s conversations with prospects and conversations, to see a high percentage of customer-specific price agreements with an end date of 2099 and a fixed unit price!

3 Elements of a First prospecting E-Mail – Sales eXecution 305

The Pipeline

And while some may be shaking their head in disbelief, done right it contributes to prospecting success, but as usual, its down to what and how – the execution. Many believe that success is the prospect calling you back and asking “where do I buy?”

Are You Really a “Stout Defender of Margin?”

Jonathan Farrington

Secondly, the only positive thing to come out of our short relationship - I learned to defend margin. For clarification, what I mean by defending margin is to fight for every single percentage point of profit, and give absolutely nothing away without getting something in return. Salespeople who think big, get big results, and never let your prospect lower your sights. Constantly erode the value of the prospect’s concessions - reduce the buyer’s perception.

Eight New Year’s Resolutions for Boosting Your Sales

The Sales Heretic

Sales business CEO closing cusotmer Facebook LinkedIn margin negotiating networking owner. blog presenting price product professional profit prospecting qualifying referrals resolutions resources service social media Twitter YouTubeBy now you’ve probably already broken your New Year’s resolutions, so let’s replace them with some new ones. Specifically, with some resolutions that will enable you to sell more this year than you did last year.

Margin 252

The Pipeline ? Win The Sale Without Compromising on Price

The Pipeline

In these times of shrinking margins and diminishing returns, Mark’s insights will change the way you think about discounting, price, negotiating, and, above all, the all-important concept of value. Prospecting. 3 R’s of Prospecting Success. Home About The Pipeline.

7 Ways to Respond When Your Prospect Asks for a Discount

Hubspot Sales

But you’ll only reap these benefits by discounting strategically -- not whenever your prospect asks for one. Promising your prospect a discount before the actual negotiation can have three negative consequences: The buyer subconsciously attributes less value to you and your product.

Sales Prospecting Is Supposed To Be Easy And More Old Myths

Veelo

Sales reps are under a lot of pressure to perform, but they don’t have a lot of margin for error. The post Sales Prospecting Is Supposed To Be Easy And More Old Myths appeared first on Sales Enablement Software | Veelo.

Selling at 'C' Level

Anthony Cole Training

Prospecting (25). qualifying prospects (13). qualifying sales prospects (10). sales prospecting (34). Most sales gurus, including Dave Kurlan, will tell you that selling at "C" level is the MOST productive way to sell more business, more quickly at higher margins.

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B2B Blog Post Round-Up: Content, Prospect Expectations & More

Zoominfo

This month’s round-up features topics like content marketing, managing prospect expectations, lead generation, and more. A typical content marketing strategy involves the creation and distribution of content with the sole purpose of attracting prospects to convert into paying customers.

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Turn Pains Into Priorities

The Pipeline

When the prospect tics enough of the boxes, their qualified. The current approach tends to set the bar somewhat low, taking away valuable time that can be spent with real prospects. In practice, your reps will the ability to pursue and engage with “pain-free prospects”.

Buyer 252

The Fear Of Missing Out

The Pipeline

With the loan, even at these perceived prohibitive rates, they were able to increase revenues by over 25%, increase margins, and earn 13% ROR, rather than nothing “because the rate is too high.” 01 - Prospecting 04 - General Sales 14 - Value Communication Sales Mistakes Tibor Shanto

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What in the World Is Guided Selling?

Cincom Smart Selling

Now you are in a sales engagement—no cold call, no prospecting, no get out of my life you lousy sales rep. Smart Selling CPQ CRM Guided Selling margin salesThe role of sales is changing dramatically in our connected world. Buyers are much more likely to arrive in the buying cycle equipped with product knowledge, solution alternatives and a general idea about cost.

Buyer 60

How to Get More Budget For Your Sales Initiative

Force Management: The Command Center

Maybe your sales team isn't focusing on value in the buyer conversations, and they're giving up too much margin or losing deals all together. You need better access to the economic buyer and frankly, a better understanding of how your prospects buy.

The Art of the Upsell: CPQ vs. The Drive-Thru

Cincom Smart Selling

Let’s say you are discussing your prospect’s requirements for an elevator. Smart Selling CPQ cross-selling Guided Selling margin sales UpsellingYou pull into the drive-through, and there is a vaguely menacing, large plastic clown head waiting to take your order. The face lights up, and a scratchy voice emanates from the frozen, grinning face asking, “Would you like to try our combo meal today?”.

Selling With Video At Every Stage of the Funnel

Funnel Clarity

As HubSpot’s research shows, video is becoming the preferred content format by a clear margin. Sales Process ProspectingThere’s no question that video as a medium is rapidly increasing in popularity.

How CPQ Is Helping Sales Win the Numbers Game

Cincom Smart Selling

You have your prospect’s attention. Taking the path of least resistance may seem to increase your odds of closing a deal, but the reality is, by ignoring the opportunity to leverage your discussion with the prospect into a larger discussion involving a more complete or better solution will likely result in underserving your prospect. This is critical when your prospect starts asking what-if questions about your product. Talking the Talk.

It’s Not A Race

The Pipeline

Building a base of knowledge and understanding with a given prospect, their objectives, hurdles, etc., Many of the “rushed over” deals, could in fact have been better, not just in immediate revenue and quota retirement, but upsells, referrals, and most importantly, margins and price integrity.

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Challenge The Premise – Not The Individual

The Pipeline

But trying to sell them a prospecting program without context can often fail, or take a long time. Prospect: About 88% Existing, 12% New. Prospect: Oh, I had planned 80% existing, 20% new. Prospect: Too much time with their base. Prospect: Bigger market share.

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Top Sales Tools of the Year Awards

Smart Selling Tools

We’ve got tools to get contracts signed faster, to get prospects’ attention, to up-level your sales team, and to add margin to your deal sizes. Our last blog post of the year is a gift to all of you who are looking for sales tools for 2019.

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Why Are You Trying To Kill Me?

The Pipeline

You know I have never read an article or a post that was written by an advocate of cold calling, suggesting that social selling is bad, ridiculing people who use the practice to engage with prospects, suggest that it is inadequate, or about to die.

What to Do When Your Customers Put the Squeeze on Price!

Paul Cherry's Top Sales Techniques

That puts you on the defense — which means losing control and giving up those hard earned margins. Price vs. Value Prospecting Sales Questions Sales TrainingDon’t let your customers try to squeeze you or corner you on price.

The Consequences of Dropping Our Pants Too Early

Jonathan Farrington

Secondly, the only positive thing to come out of our short relationship – I learnt to defend margin. For clarification, what I mean by defending margin, is to fight for every single percentage point of profit, and give absolutely nothing away without getting something in return.

Overcoming The Money Problem in Sales

Anthony Cole Training

Find prospects that place value on something besides just price. While I won’t argue that price is part of the decision making process, what do you do when the prospect tells you it is the driving factor? You sacrifice margin, which means making more sales to achieve your revenue goal.

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Playoff Selling

The Pipeline

No where is that more evident than in prospecting. Letting up on your prospecting to look after other “more important things”has an immediate negative impact, in the form of a light pipeline.

How To Handle A Client That Wants A Bigger Discount

MTD Sales Training

One of the most common is the issue of price, where a prospect has not yet seen the value of paying the price for your products or services. Now, what if your prospect that you’re dealing with wants a bigger discount ? The prospect has to see there is a cost to the reduction in price.

6 Reasons Why Selling on Price Does Not Work

The Sales Hunter

The lower profit margin you’re making selling at the lower price is not going to give you or your company the level of profit you need to operate. For some reason salespeople always think if they can just lower their price, they can increase their number of sales.

Prospects Comparing Your Proposal to the Competition to Get a Better Price? Do This.

The Brooks Group

When prospects are comparing your proposal to the competition in an attempt to create a bidding war, the buyer is working to further put themselves in the driver's seat and get the lowest price they can. How to Differentiate When Prospects are Comparing Your Proposal to the Competition.

Price – A Hard Habit To Kick – Sales eXchange 171

The Pipeline

You figure on $100,000 deal, say 8% commission, going to $95,000 will only impact you by $400, but could be the margin for your company.

Make More Effective Sales Collateral This Summer

Sales Result

The most effective prospect-facing collateral is the result of collaborative sales and marketing teams. While the marketing team is responsible for the development and design of sales collateral, it is marginally effective if it doesn’t incorporate the needs and goals of the sales team.

How Much Leads Cost

Pointclear

This table compares the cost per lead on outbound (PointClear Prospecting/Nurturing) to several other sources of inbound leads. What do you think the chances are that sales will cull through 3,117 suspects to find 40 prospects? While this is a simplistic approach, you can see the extent to which average deal size, margin and the percent of revenue that is spent on marketing impacts the allowable cost per lead.

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