SOAR TO SUCCESS / Business Acceleration Strategies based on data? What is the market price for your product or service? Do your customers have a contract and does the contract have a price escalation clause? How many contracts are old and need to be updated? When does the contract renew? Your Negotiation Style When we work with teams, we help their salespeople understand their personality style and how that will impact their negotiations. Buyers Negotiation Style Just as your team members all have unique personality styles and process information and conversations differently, your buyers do as well. We must You will find 20% of your customers, after we consider the cost of sales, are profit leaking accounts. Strategically price products by customers to drive net profit increases including the cost of sale. Training Train your team on how to deliver price increases professionally. Provide them skills training on negotiations and how to handle objections. The above are key considerations when implementing a price increase. If your team needs help strategically delivering price increases that stick, let’s schedule a call. recognize their negotiation style early and adapt. Strategic Considerations Here we review things like does the customers buy 100’s of items from you or less than 12? How hard would it be for the buyer to replace your product or service? What are your competitors doing? Are your products and services priced by market vertical served? Data Now is the time to capture the cost of sale. You know your raw material costs and your margins, but we must capture the cost of sales by customer and develop a net profit by customer by product report.
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