pricing pressureAre you finding that every new business conversation is ending up in a fight over price?    Are you finding your margins being squeezed?

For many organisations this is happening because your sales guys or the professional charged with bringing in new revenue is getting to the sale too late and is adding no value.

We all know that the Internet has given buyers access to a massive array of information and with that, substantial power.  It is estimatedthat between 50% and 70% of the ‘buyers journey’ is completed without direct contact with an organisation you may buy from in the future.

If you do not have a process in place to make sure you are part of this journey of discovery and research from the start then you will be lucky to be part of the final conversation at all.  And if you are invited to the conversation towards the end, the chances are you will be one of a few fighting it out over price.

Sales & Marketing (Revenue Creation) 101  –  Funnel progression.

STEP 1.   Find someone who is neutral, uninterested and content

STEP 2.   Teach them something new – help them to see that they have a problem

STEP 3.   Help them understand the consequences of that problem

STEP 4.   Propose a new framework, a different way of doing things

STEP 5.   Convince them of the need to use your solution to solve their problem.

Far too often the people you are talking to have already been through STEPS 1 to 4 and you have not been a part of this process.  You have not helped them understand the need for change, avoid land mines and think differently.  You have added little or no value to their journey.

When they get to you at STEP 5 they already have the information power – they know their options and often they will simply be playing you off on price against someone else who also looks very much like you.   Sound familiar?

Optimistically many organisations see requests for tenders out there in the market and quickly identify them as new business opportunities.  Yes they are – but the buyers are at STEP 5 and you are just one of many.  You have added no value that can be translated into the margin.

You need to change how you generate revenue.  A fresh look is needed for many organisation at the way in which marketing and sales are aligned, the level of conversation that sales is having with customers and the way in which marketing is supporting the end to end revenue creation process.

It is crucial to create an integrated process that ensures you are part of the buyers journey from the start and adding genuine value that sets you apart from the competition and lifts you above the price noise others are left playing.