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A practical guide for successfully navigating the single greatest growth and profit improvement opportunity for B2B enterprises: price increases
The payoff for implementing price increases without losing customers is massive! Effective price increase campaigns are far more effective at boosting topline revenue and generating profits than acquiring new customers.
The problem is that price increase initiatives—whether broad-based or targeted to specific accounts—strike fear and anxiety into the hearts of sales professionals and account managers who are tasked with selling them to their customers. Approaching customers with price increases sits at the tip top of the pantheon of things salespeople hate to do because they fear that raising prices will reduce sales volume or open the door to competitors.
Yet when sold effectively, customers accept price increases, remain loyal, and often buy even more.
In Selling the Price Increase: The Ultimate B2B Field Guide for Raising Prices Without Losing Customers, celebrated sales trainer Jeb Blount reveals the strategies, tactics, techniques, and frameworks that allow you to successfully master price increase initiatives. From crafting effective price increase messages to protecting hard-won relationships, handling common objections, and making the case for the value you deliver, this comprehensive guide walks you through each step of the price increase sales process.
In each chapter, you'll find practical exercises designed to help you master the Selling the Price Increase system. As you dive into these powerful insights, and with each new chapter, you'll gain greater and greater confidence in your ability to successfully engage customers in price increase conversations.
You'll learn:
How to navigate multiple price increase scenarios: broad-based, targeted, non-negotiable, negotiable, defending, presenting, and asking
The eight price increase narratives and three drivers of customer price increase acceptance
How to neutralize and get past the five big price increase fears and anxieties
How to avoid the big mistakes that trigger resentment and drive customers into the arms of your competitors
The 9-Box Risk-Profile Framework for targeting accounts for price increases
A repeatable process for confidently approaching price increase conversations
The Five-Step Price Increase Messaging Framework
Proven frameworks for reducing resistance and handling price increase objections
How to negotiate profitable outcomes with high-risk profile accounts
Winning strategies for coaching and leading successful price increase initiatives
Following in the footsteps of his blockbuster bestsellers Fanatical Prospecting, Sales EQ, Objections, Inked, and Virtual Selling, Jeb Blount's Selling the Price Increase puts the same strategies employed by his clients—a who's who of the world's most prestigious organizations—right into your hands.
Selling the Price Increase is an essential handbook for sales professionals, account managers, customer success teams, and other revenue generation leaders looking for a page-turning and insightful roadmap to navigating the essential—and nerve-wracking—world of price increases.
Contents
Preface: A Tactical Field Guide and System for Selling Price Increases xi
Foreword by Victor Antonio xv
Acknowledgments xvii
Part I Disrupt the Mindset of Fear 1
Chapter 1 Sales Professionals Hate Price Increases 3
Chapter 2 The Five Fears 11
Chapter 3 Awareness and the Origin of Fear 17
Chapter 4 Developing Emotional Self- Control 23
Chapter 5 Stop Worrying, Start Preparing 35
Part II Protect Customer Relationships 43
Chapter 6 Relationships Matter 45
Chapter 7 Triggering Resentment and Contempt 53
Chapter 8 Wait, I Don't Even Know You! 65
Chapter 9 Price Increases When You Have All the Power 73
Chapter 10 Make Breaking Up Hard to Do 79
Part III Approaching Price Increase Conversations 89
Chapter 11 The Three Approaches to Price Increase Conversations 91
Chapter 12 Defending Price Increases: Between a Rock and a Hard Place 99
Chapter 13 The Price Increase Sales Process 117
Chapter 14 The Price Increase Risk Profile 127
Chapter 15 Planning the Price Increase Conversation 141
Chapter 16 Set the Stage 145
Part IV Making Your Case 157
Chapter 17 Message Matters 159
Chapter 18 Influencing Price Increase Acceptance 175
Chapter 19 The Eight Price Increase Narratives 183
Chapter 20 The Price Increase Because Statement 193
Chapter 21 The Formal Price Increase Business Case 203
Part V Closing, Handling Objections, and Negotiating 221
Chapter 22 Closing 223
Chapter 23 The Ledge Technique 227
Chapter 24 Four Techniques for Handling Price Increase Objections 233
Chapter 25 Negotiating the Price Increase: D.E.A.L. Framework 241
Chapter 26 Discover 247
Chapter 27 Explain 253
Chapter 28 Protect the Points 259
Chapter 29 Align and Lock 265
Part VI Leading and Coaching Price Increase Initiatives 277
Chapter 30 The Battle Begins 279
Chapter 31 Leading Price Increase Initiatives 287
Chapter 32 Managing Price Increases 293
Chapter 33 Coaching Price Increases 303
About the Author 313
Training, Workshops, and Speaking 315
Notes 317
Index 321
