ROI Selling Blog

How to Increase Your Average Deal Size

Posted on Aug 26, 2015 9:00:00 AM by Darrin Fleming

If you want to increase your average deal size, the best thing you can do is learn to sell based on value. That’s because a value-based selling approach helps you justify your price and expand cross-selling and upselling opportunities. Here’s how it works.

Focus on Value (Not Features and Benefits)

To increase your average deal size, start by learning how to talk about the customer’s business challenges. Specifically, think about how your solution impacts situations or circumstances that require your customer to 1) spend money unnecessarily and/or 2) not achieve their potential in terms of sales revenue.

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Topics: ROI-Selling

How to Get Your Prospects to Believe in Your ROI Estimate

Posted on Aug 20, 2015 9:00:00 AM by Darrin Fleming

Have you ever heard customers say, “I don’t believe these numbers,” while showing them the business case for your offering?

It’s not that the customer thinks you’re a liar. The problem is that many customers come to the table with existing assumptions or prejudices around benefit dimensions. Therefore, your ROI estimates can seem like pipe dreams. 

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Topics: ROI-Selling

Buying an ROI Calculator: 4 Things You Absolutely Need to Know

Posted on Aug 13, 2015 9:00:00 AM by David Svigel

If you are shopping for an ROI tool, odds are that you already agree with us that a homegrown Excel tool won’t get you the best results. But how do you evaluate vendors and make the right choice? Here are four elements to consider.

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Topics: ROI-Selling

Why Don’t Reps Use Sales Enablement Tools?

Posted on Aug 6, 2015 1:07:00 PM by Darrin Fleming

Each year, sales operations and marketing managers purchase sales enablement tools to help their sales teams increase win rates and close deals faster. So why do so many of these tools gather dust in the salesperson’s toolbox?

In my experience, this happens for two main reasons.

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Topics: ROI-Selling, B2B marketing

How Sales and Marketing Can Increase Close Rates

Posted on Jul 29, 2015 9:00:00 AM by Darrin Fleming

Getting prospects to buy is a team effort between sales and marketing. If your organization is like most, there are probably some efficiency and skills gaps that are keeping you from closing deals. Here’s some of our best advice to increase close rates.

1. Figure out where your deals are stalling out.

Almost everyone struggles with customers who show a lack of urgency to buy. Maybe this manifests as voicemails or emails that ask for “more time” to make the decision. Or they say they need to circulate your proposal to more people, or push it higher up the food chain. Other times, they make endless requests for more information or updated proposals—with no deadline for a decision in sight. 

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Topics: ROI-Selling, B2B marketing

How to Get Customers to Take Soft Benefits Seriously

Posted on Jul 22, 2015 9:00:00 AM by David Svigel

Last week I worked with a client to finalize a list of cost savings and revenue gains provided by her company’s offering. During our review, she flagged the section where I had included “sales growth” as a revenue benefit. As she told me, “We’re not allowed to include soft benefits when we present business cases internally.”

As a value-based selling practitioner, I instinctively I knew what she meant. Buyers frequently have no trouble embracing what are often called “hard” or “tangible” benefits. These most often include such readily identifiable cost savings as reduced IT infrastructure, lower paper consumption, and less travel. Most B2B offerings have multiple core cost savings wherein, after the offering is implemented, the identified costs go down.

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Topics: Overcoming Objections

How One Company Underpriced a Product by $400,000

Posted on Jul 15, 2015 9:00:00 AM by Darrin Fleming

Is your offering underpriced? It happens more often than you’d think. For example, during a recent consulting project, I helped a particular business unit at a material manufacturer realize they were charging $100,000 for an offering that was delivering $1.2 million in value. How is that possible? Five primary reasons:

  1. They came up with their existing price of $100,000 based on how much it cost them to make the product (aka, cost-plus pricing).
  2. They were also using their competition’s price ($250,000) as a benchmark for their own price (aka, discount pricing). 
  3. The existing price provided over 60% margin, which was higher than many of their other products.
  4. They were focused on other areas of their business and never paid much attention to this particular product line.
  5. They had never stopped to consider or quantify how much value their product delivered to customers.
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Topics: ROI-Selling, Success Stories

Closing the Sale: What Your Prospect Is Comparing You To

Posted on Jul 7, 2015 9:00:00 AM by David Svigel

We recently wrote about the use case for an ROI tool vs. a TCO tool. Now let’s look at the ROI vs. TCO argument a bit differently, from the buyer’s perspective.

Buyers are usually in one of two frames of mind:

  1. Evaluating your solution against their current environment. I call this the “Do Nothing” scenario because your prospect is either going to buy your solution or take no action (i.e., live with their current state).
  2. Looking at your solution against a competitive offering or another alternative such as a homegrown solution. This is the “What Should We Do?” scenario, because the buyer has decided to act but is uncertain about what to do to solve his or her problem.

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Topics: ROI-Selling

The Etiquette of Talking about Your Competition

Posted on Jul 1, 2015 9:00:00 AM by Darrin Fleming

 
The way you talk about your competitors tells prospects and customers a lot about your company and the way you do business. Here are some guidelines sellers and marketers can use to avoid leaving a negative impression and potentially losing business.

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Topics: B2B marketing, Overcoming Objections

5 Indispensable Steps to Win More Often with B2B Buyers

Posted on Jun 24, 2015 9:00:00 AM by Darrin Fleming

What’s the best way to get a buyer’s attention, move deals quickly through the buying cycle, and increase close rates? Follow these five fundamental steps. (For a handy summary of these steps, download our tip sheet, "5 Steps to Close More Deals.") 

Step #1: Identify your buyer’s business problem.

B2B buyers don’t make purchases based on impulse or emotion. They only buy products that help them solve business problems. As a B2B seller, your understanding of that business problem will provide you with the opening you need to develop and expand a relationship with the buyer.

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Topics: ROI-Selling, Overcoming Objections, B2B Sales

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