However, having been around thousands of sales professionals in my career and most of those in highly competitive selling environments, more often than not price is in fact a misguided excuse to why they’re losing, but not truly a fact. In fact, the best sales professionals I’ve seen win deals (and win often) do everything else great, except selling on price.
Let’s look at a few questions that should be keeping you up at night. All of which are far more important than the price of your product or service your team is offering:
- Does your sales organization have a defined Sales Process?
- Does your sales organization have Job Aids to help win more?
- Does your sales organization know how to celebrate win themes when communicating with their prospects?
Here is some information on each of the above that will help you benchmark how well your sales organization is set up for success.
First, sales process. At Sales Benchmark Index, we discuss sales process as being focused on having a clear understanding of the customers buying process, then mapping your company’s sales process directly to it, defining the work flows an opportunity needs to adhere to, and managing to the mission critical process of accelerating an opportunity from one stage to the next.
Next, job aids. Job aids are an enabler to the sales process. Think of a job aid as a screwdriver in your toolbox. Without a screwdriver it would be hard to put anything together, right? Sales professionals without job aids will repeatedly struggle to win business. Job aids are the tool your sales organization needs to help through the sales process, each job aid should help enable furthering the sales process closer to closure.
Finally, win themes. Think of a win theme as something that your prospects want to hear you are good at delivering. Maybe it’s quality, flexibility of your product or service, so on. These are the type of themes your sales organization should have in their sales cadence to prospects.
Again, price is not why your team is losing. Look away from price. If your organization has a clearly defined sales process, is it being followed? Whether it is or not, assuming you have one, now you can start looking inside of that process for other areas of needed improvement. Don’t get overwhelmed. Tackle a few areas of improvement at a time, the end result will be more wins geared around everything except price and you will sleep better too.