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Value not Price

Value not Price

As rapidly as things change in this world I am always amazed at the enterprise that still makes decisions based on price only.  The dynamics of a business solution designed to attract users or engage learners is usually multi-faceted and well thought out to meet the needs of the audience, engage them into some type of action or to empower them with the tools that they need to perform their every day jobs.

Today I received a call from a prospective client telling me that Finance had rejected our proposal based on price.  Mind you, the finance department had no idea what was being developed, the methods and the tools being used to create the final solution nor the results that the buyer was trying to achieve but they determined it was too expensive based on some type of chart they use to determine such matters.

Professional sales people have always been challenged with trying to meet client’s expectations on limited budgets.  Those of us that work in the industry understand how to reduce cost and reach the desired results with less than ideal tools and methodologies.  However, the real challenge comes about when a prospect shares what they want to accomplish, they agree on the proper approach, discuss budget and get preliminary approval to move forward.  Then it falls apart.  Why?  I would suggest three possible reasons:

  1. The buyer is not the final decision maker
  2. They do not have executive buy-in
  3. They do not have a budget

It is very hard work trying to close any deal in any industry today so each and every professional sales person must make sure they have the ultimate decision maker with a budget and a time-frame for delivery of the product or service being sold.  My suggestion is to ask as many questions about the organizations’ buying process. Finally, do not sell on price alone.  To be of service to any potential client you must provide value and those clients’ that buy on price alone do not embrace value and the chances of them becoming a long-term business partner are very slim because price is their only motivating factor.

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