More and more customer purchase agreements include Most-Favored Customer (MFC) clauses. The customer’s goal here is to ensure that they get the very best price—as low as, or lower than, you offer to any other customer under any circumstances. These MFC clauses are typically accompanied by additional clauses that give the customer the right to […]Read More
What To Do About Requests for Most-Favored Customer Clauses?
The Value of Versioning
Customers like having choices. That’s why manufacturers of cars, computers, phones, and just about everything else offer multiple versions of products, at different prices, with different levels of value. This works because not all customers perceive value the same way, nor are they willing to pay the same price. There are three basic kinds of […]Read More
A Formula for Value-Based Pricing
I define value as the amount of money a customer earns or saves by buying your product vs. buying your competitor’s product, or continuing with the status quo. To price on the basis of value, first calculate the total amount of money a customer will earn or save over one or two years—think logically but […]Read More
Who’s in charge of your pricing? You are!
Contrary to popular belief, the market does not set the price when it comes to highly differentiated, high-technology capital equipment. And a handful of professional buyers does not constitute a “market” in any event—especially when those buyers are trained to mislead and even lie to you. Despite what these buyers tell you, your products are […]Read More
The Profit Platform: Pricing, Pitching and People
This blog is a pitch for my services. If you’ve found my previous blogs helpful, I’d appreciate it if you would read the information below and consider ways in which we might be able to work together. I’m a marketing and sales consultant who helps high-tech companies increase revenue and profit. I’ve helped many companies […]Read More
Dos and Don’ts for Effective Sales Training
Even the most interesting and relevant sales training material can fall flat if it’s not delivered well. Here are some dos and don’ts to keep your employees engaged, attentive, and learning: DO Know what you’re talking about. One of the best ways to prepare is to write a one-page summary, as if you’re writing an […]Read More
Training for New Salespeople That Actually Works
Once you’ve made a job offer that has been accepted, it’s time to get your new salesperson up to speed as quickly as possible—meaning, as profitable as possible ASAP. Unfortunately, much of what passes for sales training is really product training, designed to show salespeople how products work. Or it’s generic, with the material being […]Read More
You’ve Identified Your Top Candidate for the Job. Now What?
A lot of hiring resources make “making an offer” sound like the simplest part of the process. In some ways it is—from the employer’s perspective. After all, you have already done the work of defining the job, examining your budget, advertising the opening, interviewing candidates, assessing their relative strengths and weaknesses, and winnowing down the […]Read More
How Do You Hire for Fit? Paint a Picture
If you’ve ever read anything about goal-setting, you’ll know that experts always advocate envisioning—with crystal clarity—the desired end result. The same sort of practice can help you hire candidates who fit well with your company’s culture. Because they don’t yet know enough about your company to paint their own picture of what it would be […]Read More