Working out your pricing strategy.
Perhaps you’ve just stumbled on some obstacles in your sales activity. I won’t be astonished if they are closely connected with your pricing strategy. If your pricing strategy fails to be adequate then your sails activity will undergo a terrible crisis. So you shouldn’t ignore this issue any more.
The matter is that the major resistance to increasing prices can be found exactly within the company. I just mean that your staff might resist your new pricing strategy quite persistently. Perhaps from their point of view they might lose potential customers if they continue holding the current price or even raise it. Their greatest horror is that prospects won’t purchase their products and they’ll choose another company. To my great regret it’s a typical way of thinking of the vast majority of salespeople no matter what a company they represent. But in fact customers are ready to price growing. So as you can see they won’t be exposed to panic because in most cases they are able to understand the current market situation.
Buy the way only 20% of your customers are ready to give up being your prospects in order to find other more competitive prices from their point of view of course. But at the same time about 80% of your customers prefer to stay with you because of many reasons. For example they might prefer your service. Furthermore many customers don’t like searching for new companies to make them be a sort of substitute of yours. So I can say that you are lucky that they are lazy enough to find another company. But sure it doesn’t matter that you can relax and do very little about your business.
So when you want to increase the prices of your products you should take into account exactly that kind of value which you are going to attach to the price. It goes without saying that this added value should have a substantial reasoning to exist, otherwise you customers won’t be able to understand your pricing policy. But if this added value is motivated by the enhanced quality of the product then your customers won’t refuse to purchase it even if it’s more expensive.
It’s OK that you’ve just understood what I mean. Now your duty is to explain all of this to your naughty but capable salespeople. Explain them that they are doing wrong and they should apply another approach for your sales activity. Perhaps you’ll have to fire the most obstinate ones and this will be a good educational act of yours for the rest of your staff. But I really hope that you won’t have to do such radical things though you should be ready for them. I wish you luck with your new pricing strategy.
Today it is quite easy to find a good business 2 business connection – this is where a professional appointment setting company can help you a lot.
And some general tips – today the Internet technologies give you a really unique chance to choose exactly what you want at the best terms which are available on the market. Strange, but most of the people don’t use this chance. In real life it means that you should use all the tools of today to get the info that you need.
Search Google or other search engines for the info about lead generation. Visit social networks and have a look on the accounts that are relevant to your topic. Go to the niche forums and join the online discussion. All this will help you to build up a true vision of this market. Thus, giving you a real chance to make a smart and nicely balanced decision.
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