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High-Profit Selling: Win the Sale Without Compromising on Price

Book Description

In the high-pressure quest to make a sale, acquire a contract, and beat out other bidders, sales professionals frequently resort to cutting prices, offering discounts, or making other concessions that cut into their operating margins short-term strategies that are destructive to the long-term sustainability of their business.

Table of Contents

  1. Cover Page
  2. Title Page
  3. Copyright Page
  4. Contents
  5. Introduction
  6. Chapter 1: You Are Hurting Your Profit
    1. What Is This Book Worth to You?
    2. To Maximize Profit, Change How You View Your Customers
    3. It’s Time to Look in the Mirror
    4. Your Confidence Drives Your Attitude
    5. Can a Company Asking a Higher Price Really Win?
    6. People Don’t Buy—They Only Invest
    7. Forget About Your Competition
  7. Chapter 2: “Profit” Is Not a Dirty Word
    1. Are You Chasing the Shiny Object?
    2. Do You Think “Profit” Is a Dirty Word?
    3. How Do We Define Profit?
    4. What Does “Immediate Profit” Mean?
    5. What Is Your Customer Worth Down the Road?
    6. Calculate Your Customer’s Profitability Sustainability Factor
    7. A Big Order at the Wrong Price Isn’t Worth It
    8. Intellectual Profitability Adds Up
    9. Minimize the Profit Takers
    10. “Profit” Is a Beautiful Word
  8. Chapter 3: Use Needs and Benefits to Command a Higher Price
    1. Chasing the Shiny Object
    2. Determining the Customer’s Needs and Benefits
    3. Separating Good Information from Bad
    4. What We Can Learn About Needs and Benefits from Apple
    5. Using Follow-Up Questions to Categorize a Customer’s Needs
    6. Needs? Benefits? What’s the Difference, Anyway?
  9. Chapter 4: Creating Real Value Using Your Price Point
    1. Forming Real Value Around Price
    2. Creating the Price Point
    3. The Power of the Ultra-Price Package
    4. Ultra-Prices and a Salesperson’s Beliefs
    5. The “No Negotiation” Philosophy
    6. Sales Managers: Don’t Empower Salespeople to Give Away Profit
    7. Where Does the “No Negotiation” Policy Work Best?
    8. Rules for an Effective “No Negotiation” Policy
    9. Making the “No Negotiation” Policy Work, Despite So Many Rules
    10. Using Time to Drive Value
  10. Chapter 5: Prospecting That Works
    1. Past Growth Doesn’t Guarantee Future Growth
    2. Finding New Customers Is Not an Optional Job Activity
    3. Prospect or Suspect? Do You Know the Difference?
    4. Is Prospecting Ingrained in Your Daily Routine?
    5. Can’t Prospect? Then You Can’t Sell
    6. What Is a Prospect?
    7. Not All Prospects Are Created Equal
    8. Assumptive vs. Inquisitive
    9. Tactical Comments and Questions: The Price Squeeze
    10. Strategic Questions Lead to Long-Term Relationships
    11. Aim High When Prospecting
    12. Make Prospecting Part of Your Daily Routine
    13. Holiday Prospecting
    14. Just Do It
  11. Chapter 6: Sell More by Talking Less
    1. How Professional Buyers Use Silence
    2. Give Control to the Customer
    3. How to Use Your Personality to Ask Questions
    4. Questions That Work for You
    5. How Much Time Do You Talk on a Sales Call?
    6. Tactics Buyers Use to Speed Up the Sales Call
    7. Why Salespeople Fail
    8. An Example of Not Listening
    9. Learn Your Customer’s Language
    10. The Best Follow-Up Questions
    11. Put the Pride Aside: It’s Costing You Money
    12. Expand Your Question List
    13. Do You Respect Your Customer?
    14. The Two-Second Pause
    15. Close Too Fast and You Lose Profit
    16. The More the Customer Talks, the More You’re Prepared for the Next Sale, Too
    17. Keep Your Eye on the Prize
  12. Chapter 7: Skip the Sales Presentation
    1. Why Preparation Is Essential
    2. Preparing a Sales Presentation Does Not Mean You Will Use It
    3. Do You Know Your Presentation or Do You Know Your Content?
    4. What About Skipping the Presentation on the Phone?
    5. Always Respect Time
    6. Developing Your Presentation
    7. How Many Calls to Close a Sale?
  13. Chapter 8: Leverage Knowledge to the Fullest
    1. The Customer Is Seeking Knowledge, Too
    2. Leveraging Knowledge
    3. False Facts
    4. How Do You Track Customer Information?
    5. Visiting the Senior Officer
    6. Using Information to Gather Opinions
    7. Validating Information
    8. The Power of Sharing Your Information
    9. Knowledge Can Help Open the Next Sale
    10. Knowledge vs. Information
    11. Your Competitor May Have the Same Information
    12. Your Knowledge Helps Create Trust
    13. Your Knowledge Can Create a Long-Term Relationship
  14. Chapter 9: Sell More Without Even Being There
    1. China and the Sales Catalog
    2. How the B2B Selling Process Has Changed
    3. Putting Your Information Online
    4. Getting the Right Information on the Internet
    5. “Vendor Validation”
    6. Becoming a Thought Leader
    7. Time Well Spent
  15. Chapter 10: Selling to the C-Suite
    1. What Language Do They Speak?
    2. Attributes Needed to Connect with the C-Suite
    3. Connecting with the CEO Directly
    4. The 12 × 12 Approach
    5. Connecting with the CEO by Way of a Referral
    6. Dealing with the Blockers
    7. Meeting with the CEO
    8. C-Suite Relationships Are Insurance Policies
    9. C-Suites Are Research Departments
  16. Chapter 11: How to Handle Price Objections
    1. You Need to Be Blunt with the Customer
    2. How Should You Respond to Objections?
    3. Responding to the Request for a Reduction in Price
    4. What Do You Do About the Persistent Customer?
    5. Getting Customers to Focus on Their Needs, Not Your Price
    6. The Customer Is in No Rush to Buy
    7. Don’t Try to Push the Customer with a Limited-Time Discount
    8. Sell First, Negotiate Second
  17. Chapter 12: Executing a Price Increase
    1. The Ten-Step Process to Execute a Price Increase
    2. Step 1: Know Your Strategy and What the Price Increase Is Going to Accomplish
    3. Step 2: Sell the Objective of the Price Increase to People Inside the Company, Particularly the Sales Force
    4. Step 3: Determine and Isolate the Customer’s Key Benefits (They Help Sell the Price Increase)
    5. Step 4: Understand the Customer’s Decision-Making Timeline and How It May Impact Plans to Communicate the Price Increase
    6. Step 5: Isolate Key Contacts Within the Customer’s Company
    7. Step 6: Develop Data and a Fact-Driven Point of View (FDPOV)
    8. Step 7: Signal to the Customer the Expectation That a Price Increase Might Be Coming
    9. Step 8: Formalize Expectations and Goals with the Sales Force for Each Customer
    10. Step 9: Present the Price Increase to Customers and Gain Their Commitment
    11. Step 10: Reinforce the Price Increase by Sharing the FDPOV
    12. Ten Steps to More Profit
  18. Chapter 13: Purchasing Departments and the Professional Buyer
    1. Who Is the Professional Buyer?
    2. The New Vendor
    3. Understanding How the Buyer Operates
    4. Warehouse Tours and the Buyer
    5. Learning the Customer’s Computer System
    6. My Three Hours with a Buyer
    7. Do Outside Meetings Include Any Risk for You?
    8. Understanding a Buyer’s Objectives
    9. Vendor Letters and Requests
    10. Increasing Your Margin on Friday Afternoon
  19. Chapter 14: RFPs and RFQs: The Bidding Process
    1. Are RFPs a Good Use of Your Time?
    2. Benefits of the Small RFP
    3. Writing the RFP Gives You the Upper Hand
    4. Step 1: Determine Your Strategy
    5. Step 2: Develop Your Minimum/Maximum Standards
    6. Step 3: Develop Your Options
    7. Step 4: Gain Information from the Customer and Others
    8. Step 5: Respond and Get the Meeting
    9. The Value of a Follow-Up Meeting
    10. Bid Selection Renegotiation
  20. Chapter 15: Position Yourself to Continue Earning High Profits
    1. One Percent Continuous Improvement Process
    2. Small Changes Equal Big Improvement
    3. Your Windshield Is Talking to You
    4. Recovering from the Bad Sales Call
    5. Always Be Learning
    6. Strategically Planning Your Week
    7. Setting Weekly Goals to Build Off Your Successes
    8. Recording Your Goals and Accomplishments
    9. Furthering Your Knowledge and Expertise
    10. Recommended Websites
  21. Index