PHASE 2: ACCOUNTS
Prioritize accounts that appreciate your value proposition and are willing to pay for it.
Quantifying the potential, propensity to buy, and willingness-to-pay for each account will increase your sales and marketing ROI. This is done by aligning your best resources with your best accounts. There is no single “right” price for your product or service for all accounts. Unless you can set prices by customer segment, you will always be leaving revenue and profits on the table. To do this successfully you must have a deep understanding of the willingness-to-pay by customer segment.
Rapid Diagnostic
1. You have defined your ideal customer profile.
2. You have quantified the level of discounting each competitor is selling at vs. their list price.
3. You have quantified the level of price erosion by customer.
4. You have quantified the share of wallet and potential spend for each account.
5. You have quantified the willingness to pay for each customer segment by product.
6. You have quantified the cost to acquire each customer (CAC).
7. You have quantified the lifetime value of each customer (CLTV).
8. You have quantified the value provided to each customer by product.
9. You have quantified the propensity to buy (PtB) for each prospect/customer.
10. Your high potential accounts understand your full product portfolio and value propositions.
Deliverables
• Ideal Customer Profiles
• Customer Acquisition Cost by Product
• Customer Lifetime Value by Product
• Account Potential
• Account Scoring
• Propensity to Buy Formula by Product
• Willingness-to-Pay by Customer Segment
• Account Share of Wallet Analysis
