Liz Heiman – Why Pricing Should Focus on Sales Processes

Why you have to check out Today’s podcast:  Learn how pricing and sales process are connected  Discover what sales team needs from the product or marketing team to help them sell value  Know who in charge in prospecting  Liz Heiman is the Chief Strategy Officer and Sales Leadership Coach at Alice Heiman, LLC wherein they help B2B companies grow rapidly by developing strategies that drive revenue and sales organizations to support it.   In this episode, Liz will give us an in-depth understanding of how pricing and sales process are very closely tied and how these areas will substantially help the salespeople understand pricing through their sales process.        "Every time we drop the price in a negotiation, we're dropping profit way more than the percentage of the product. So we want salespeople to do everything possible to not negotiate on price."  – Liz Heiman    Topics Covered:  03:20 – Liz explains how capturing prices help salespeople understand the value of products  06:52 – What a salesperson needs in terms of the value proposition  10:38 – What sales team needs from the product or marketing team to help them sell value  11:59 – Importance of collaboration in crafting the value proposition between the marketing and the design team   14:21 – Building products that solve problems in the marketplace: Don't just start a business, solve a problem  17:01 – Product-Market Fit: Two examples of creating a solution but it wasn’t a problem people wanted to be addressed   21:10 – Dealing with the psychological aspects of pricing  23:24 – Talking about prospecting and identifying whose job is it  26:13 – Pricing advice from Liz: “Make sure your salespeople understand when they negotiate on price and drop that price, they set an expectation in the future, and we do not want to do that.    Key Takeaways:    “I don't think that sales or marketing ever stands alone in any solution. If we're not bridging the gap between sales and marketing.  If they're not partnering in solutions, then you have a problem.”  – Liz Heiman     “Not only do people have a problem, but they're willing to spend the money to solve the problem before you go out and spend a lot of money creating a solution.” – Liz Heiman     “In a lot of ways, a salesperson has to deal with all of these emotions and overcome them.  And sometimes look at a situation and go. There's no way this guy, we talk about certain kinds of basic objections that you can't overcome.” – Liz Heiman     “What's important when you're prospecting is to have a very clear definition about ideal customer profile and also a qualified lead. So, what marketing identifies as a qualified lead, and what sales identify as qualified lead may be very different.  What we want to do is merge those two things.” – Liz Heiman    Connect with Liz Heiman:  mailto:[email protected]   aliceheiman.com  LinkedIn  Twitter  Facebook    Connect with Mark Stiving  Email: [email protected]  LinkedIn  Twitter