Jul 8, 2019
Why you have to check out Today’s podcast:
- Learn how pricing and sales process are connected
- Discover what sales team needs from the product or marketing team to help them sell value
- Know who in charge in prospecting
Liz Heiman is the Chief Strategy Officer and Sales Leadership Coach at Alice Heiman, LLC wherein they help B2B companies grow rapidly by developing strategies that drive revenue and sales organizations to support it.
In this episode, Liz will give us an in-depth understanding of how pricing and sales process are very closely tied and how these areas will substantially help the salespeople understand pricing through their sales process.
"Every time we drop the price in a negotiation, we're dropping profit way more than the percentage of the product. So we want salespeople to do everything possible to not negotiate on price."
– Liz Heiman
Topics Covered:
03:20 – Liz explains how capturing prices help salespeople understand the value of products
06:52 – What a salesperson needs in terms of the value proposition
10:38 – What sales team needs from the product or marketing team to help them sell value
11:59 – Importance of collaboration in crafting the value proposition between the marketing and the design team
14:21 – Building products that solve problems in the marketplace: Don't just start a business, solve a problem
17:01 – Product-Market Fit: Two examples of creating a solution but it wasn’t a problem people wanted to be addressed
21:10 – Dealing with the psychological aspects of pricing
23:24 – Talking about prospecting and identifying whose job is it
26:13 – Pricing advice from Liz: “Make sure your salespeople understand when they negotiate on price and drop that price, they set an expectation in the future, and we do not want to do that.
Key Takeaways:
“I don't think that sales or marketing ever stands alone in any solution. If we're not bridging the gap between sales and marketing. If they're not partnering in solutions, then you have a problem.”
– Liz Heiman
“Not only do people have a problem, but they're willing to spend the money to solve the problem before you go out and spend a lot of money creating a solution.” – Liz Heiman
“In a lot of ways, a salesperson has to deal with all of these emotions and overcome them. And sometimes look at a situation and go. There's no way this guy, we talk about certain kinds of basic objections that you can't overcome.” – Liz Heiman
“What's important when you're prospecting is to have a very clear definition about ideal customer profile and also a qualified lead. So, what marketing identifies as a qualified lead, and what sales identify as qualified lead may be very different. What we want to do is merge those two things.” – Liz Heiman
Connect with Liz Heiman:
- mailto:liz@regardingsales.com
- aliceheiman.com
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