We all want to make lots of great sales. We work hard to generate customer enquiries, but we don’t close every deal. Maybe someone got in first or perhaps made a better pitch. Could we do better? Of course, for some ideas, read on…
We will never win 100% of the time. But we can shift the odds in our favour. Custom products bring a unique opportunity because pricing is worked out on each deal. A sales team that can price quickly is at an advantage. But those equipped to do it instantly win the most orders.
Now a confession. We are in the business of instant pricing. We share insight from experience. Other options exist, and this advice applies equally to all. Read our top four reasons why instant pricing should be high on your to-do list.
Save time and be more productive
We all know sales is a busy job. Saving time on estimation, quote creation and following up makes more time for other tasks. But how? Strange as it may sound, pricing yourself can be the best option. No briefing someone else. No waiting. No follow up. But to save time, you need an excellent pricing tool.
Look out for a simple interface that collects only the information relevant to calculating the price. Plus, it helps if the most common choices are pre-populated, and you can change where needed. Expect to enter details in seconds.
Next, you require an engine to do the calculations. This is more than just maths. The machine does the heavy lifting for you. Can your factory make the item? What processes does it involve? What’s the best way to make it? Which production route should be used? The engine needs to find the best price, which means searching all the options at your disposal. Artificial intelligence (AI) can help this task as you don’t provide instructions; you state the result you are looking for. A classic application for AI.
Finally, you want the price at the right time. For example, you want the price while talking to the customer. An instantly available price is more efficient. Cut those follow-up calls and emails. So it’s critical that pricing can be done anywhere and ideally on any device – particularly on mobile.
Do your best work
Ever met a successful salesperson that is not responsive? Being instant is pretty responsive, huh. So being able to price instantly is an excellent start to delivering your best work.
Particularly with custom made goods, there is always more than one option. Part of the sales process is exploring these. You can rule out non-runners quickly and avoid decision overload whilst exploring many options with instant pricing. Plus, you can quickly establish if you are chasing a non-opportunity. What’s the point of waiting to find out that your ‘prospect’ can’t or won’t pay your price?
Doing a better job than your competitors can mark you as the supplier of choice, which moves us onto the next point.
Lockout the competition
You may or may not believe it, but the first to quote wins the business. But think about it logically. Which would you rather say…
A: I will get our commercial team onto that straight away, and I’ll get back to you with a quote as soon as possible.
B: From what we have discussed, the price will be …. How does that sound?
Option A translates to “Please call my competitors whilst you are waiting”. B is for winners.
Collaborate and build the relationship
In the age of e-commerce, what differentiates you? Your relationship. Working together with your customers is a great way to foster this by demonstrating the value you and your company can add. And more than at any other time, instant pricing is your key to success. How else can you make the best use of valuable face time with a customer? You cannot say ‘I will get back to you’. Even saying ‘Can I make a quick call’ is pretty limited.
Visualise the power of collaborating. Set out the options side by side. Put a price on each. Make sure you have the optimal price by covering price breaks for volume. Include stock options. How many pallets are involved? Can you make a single delivery? Use pictures of each option to show how the item will work for your customer. When you can deliver at this level, you are “cooking on gas”!
Could you double sales?
Four points from our experience of delivering sales advantage. It’s no surprise our customers are looking to double bespoke sales this year. You could do that too. Get in touch if you would like our help