Should you reduce prices in B2B software deals?
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Transcript of Should you reduce prices in B2B software deals?
IN TECHNOLOGY/IT BASED BUSINESS, CLIENTS OFTEN
WANT SOMETHINGl SPECIAL
LOWER PRICE?NEW FEATURES?LONGER TRIAL?
etc.
3 WAYS IT WILL PLAY OUT:
YOU AGREE BUT FAIL TO KEEP THE
PROMISE
YOU KEEP YOUR PROMISE BUT LOSE
ON THE DEAL
YOU KEEP YOUR PROMISE AND STILL
ARE PROFITABLE
I BELIEVE THAT SACRIFICING
PROFIT MARGINIS A VERY EFFICIENT
METHOD TO FAIL YOUR CLIENTS, TEAM AND
INVESTORS
LOOK OUT FOR THE SNOWBALL EFFECT
ONCE YOU GIVE AN AMAZING OFFER, THE
WORD IS OUT.OTHERS WILL SOON
COME FOR THE SAME AND SETTLE FOR NOTHING ELSE
A HEALTHY APPROACH TOGIVING DISCOUNTS IS:
YOU WON'T RISK UNDERSERVING YOUR CLIENT OR LETTING
YOUR TEAM WORK FOR FREE TO MAINTAIN
PROFITS
IF:
YOU MANAGE A BOOTSTRAP STARTUP– VALUE CASH-FLOW OVER MARGINS, DISCOUNTS WILL HELP BUILD A TRUSTING CUSTOMER BASE
IT'S YOUR FIRST FEW CLIENTS- LIFETIME DISCOUNTS ARE GREAT TO GET CUSTOMERS ON MVP STAGE
„I WON'T BUY UNLESS YOU IMPLEMENT THE FEATURE I
NEED...”
NOW IT GETS A BIT TRICKY, LET'S CONSIDER A FEW APPROACHES
„SIGN THE DEAL AND WE'LL INCLUDE IT IN OUR PRODUCT
ROADMAP”HIGH-PROFILE CLIENTS ONLY; CHANGING THE
ROADMAP IS A PAIN FOR YOUR PRODUCT TEAM, DON'T MAKE THEIR JOB HARDER THAN IT ALREADY IS AND RISK PRODUCT FAILURE
„WE'LL INCLUDE IT WHEN WE GET MORE FEEDBACK”
SHOWS THAT YOU CARE ABOUT CUSTOMER OPINIONS, SMALLER CHANCE TO CLOSE BUT YOU STILL HAVE YOUR
INTEGRITY
STILL NO DEAL?
FILE THE STUBBORN ONES UNDER SOMETHING LIKE „FOLLOW-UP WHEN NEW FEATURE IS READY” AND FOCUS
ON MORE PROMISING LEADS
CLIENT NEEDS PERSONAL ASSISTANCE?DON'T LEAVE HIM HANGING!...BUT ONLY WHEN IT'S TRULY NECESSARY AND YOU PROVIDE REAL VALUE
WHEN IS IT OK TO FULFILL YOUR CUSTOMER'S REQUEST?
CRUCIAL OR HIGH-PROFILE CLIENT INFLUENCIAL CLIENTMAKE SURE YOU GET REFERREDTHEY PAY UPFRONTKEEP THE CASHFLOW GOING
BRIDGE THE GAP BETWEEN YOU AND THE CUSTOMER
HAVE A FEW CHEAP GATEWAY PRODUCTS THAT SHOW YOU'RE CAPABLE OF ADDING VALUE
CONSULTING E-BOOKS TRIALS etc.
IT'S GOOD TO KEEP THE CASH FLOWING BUT UNLESS YOU REALLY NEED IT – DON'T SATISFY THESE TYPES OF REQUESTS. SACRIFICING YOUR INTEGRITY WILL COME BACK TO HAUNT YOU.
THANK YOU FOR CHECKING THIS OUT!
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