We are used to thinking of the salesperson as the supplicant, but we need to unleash their power to unleash effective pricing.
The normal industrial buyer has very little insight into the operations and economic drivers of its competitors. Whereas the salesperson attempts to understand dozens of competing companies, all approaching the same sectors and buying from the same supplier group. That understanding is a great source of corporate knowledge and, if it is collated with care, great power.
Whilst it appears to the salesperson that the buyer has enormous power and access to hidden data, the opposite is true. As a salesperson, you know intimately how companies have succeeded in manufacturing using your ingredient, reselling your product or deploying your service. Using that knowledge to highlight value is the foundation of superior pricing.
Great sales conversations are based on the great value which is added – which culminate in great pricing outcomes.
Pricing gem:
As a salesperson, you know more than the buyer.
Use this knowledge to systematically optimise price.
