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Profitability happens on a day-in-day-out, deal-by-deal, customer-by-customer basis. It is won or lost as a result of almost constant “hand-to-hand combat” that happens on the front line. This is the “Moment of Truth.”
But even as Sales leaders must deliver consistent margins, their front line team is incentivized exclusively to close more revenue. And even those reps who have begun thinking about the profitability of their deals do not have the tools to systematically drive it.
60% of Sales Managers are responsible for ensuring quote prices meet company margin goals, while only 22% felt they had the ability to impact deal profitability in the field.
All to often front-line salespeople aren’t equipped with the tools they need to be both efficient and effective when it counts most. Further, they are often facing fully informed, highly prepared purchasing agent on the other side of the table.
Profitability happens on a day-in-day-out, deal-by-deal, customer-by-customer basis. It is won or lost as a result of almost constant “hand-to-hand combat” that happens on the front line. This is the “Moment of Truth.”
Yet front-line salespeople aren’t equipped with the tools they need to be both efficient and effective when it counts most. Instead, they often show up unprepared when it comes time for the negotiation; they price with their gut, spend valuable time searching for data, can’t defend their quotes, and lose deals waiting for approval.
“For all the moments that matter in business, there is only one point when money changes hands – the point of negotiation and purchase. That’s when the price you charge captures or fails to capture the profit you are in business to generate.”
The old Sales mantra “Let me get back to you on that” no longer works.
Buyers are also more sophisticated and “connected” than ever before.
The number of sales reps carrying an iPad has skyrocketed.
All too often front-line salespeople aren’t equipped with the tools they need to be both efficient and effective when it counts most. Further, they are often facing a fully informed, highly prepared purchasing agent on the other side of the table.
Salespeople had access to sales history, customer performance, deal metrics, and optimal target prices while in front of the customer? What if they could easily generate dynamic quotes, knowing exactly how profitable they were? And what if they were armed to confidently defend the pricing and terms, and quickly get special price requests approved?
To accomplish this, you will need to build a Profitable Selling Team. This team needs to include Finance, Marketing and Sales:
Together, the Profitable Selling Team enables you to align all of the necessary stakeholders around the common objective of driving profitable growth by empowering the front line team to sell more profitably at the “Moment of Truth.”
See Vendavo solutions for:
Vendavo helps companies take profitability to the front lines by delivering simple, actionable deal guidance that enables salespeople to negotiation confidently at the “Moment of Truth.”
