I just started work at Tanta Innovatives and Mr Tanta would not send me a price plan despite asking for it. I figured out he doesn’t have one!.In serendipity,I discovered he practices value based pricing.
Alright, folks, gather ‘round! Picture this: you're running a sales team in the tech jungle where solutions change faster than a Wi-Fi signal drops when you’re in the middle of a Zoom call. Your mission? Sell high-tech solutions, but not just any way—nope, we’re talking about value-based pricing here. No discounting your way out of tough spots, no handing out features like candy at Halloween. You’ve got to sell on value, and let me tell you, it’s a bit like coding without Stack Overflow: tricky, but totally worth it.
So, what’s the deal with value-based pricing? In plain tech-speak, it’s charging clients based on the "oh-wow" factor of your product. Not what it costs to build, not what your competitors are charging, but what your customer is willing to shell out for it because it’s going to solve all their problems. Like an AI bot that actually understands context or an IT support team that says "Have you tried restarting?" just once and actually fixes things.
In the tech world, this works because every business needs something slightly different. Your SaaS solution could be a lifesaver for a startup founder who hasn’t slept in days, or it could just be a shiny new gadget for a big corp with more data than they know what to do with. The key? Knowing which is which and pricing accordingly.
Before you start throwing prices at people like you're auctioning off NFTs, you need to dig deep into your customer’s issues. And by deep, I mean deeper than a cloud storage audit. Ask questions like: "What’s keeping you up at night?"(besides the latest season of that streaming show) and "How much money are you losing to inefficiency?" Once you know their pain, you can swoop in like the superhero you are with a price tag that screams ROI.
No one likes a one-size-fits-all approach—especially not in tech. Imagine pitching the same tool to a startup and a Fortune 500. It’s like trying to sell a gaming laptop to someone who just needs a typewriter. Tailor your pitch to show how your product is exactly what they need to be the Beyoncé of their industry.
Have some success stories? Of course, you do! This is where you bring out your customer testimonials like they’re limited-edition collectibles. You say: "Look at what we did for Bob’s Startup! He’s now swimming in profits like Scrooge McDuck." When clients see others getting value, they’ll want in, like everyone does with the latest tech gadget they don’t actually need.
Alright, so you’ve got more leads than a CES booth, and your calendar looks like someone’s toddler scribbled all over it. How do you handle this? With some delegation magic.
Think of this as your sales team’s version of a multiplayer raid. The SDRs handle the first wave—those early conversations, basic questions, etc. When the bosses (i.e., more qualified leads) show up, the mid-level reps take over, doing demos and diving into the tech nitty-gritty. And for the final boss—pricing negotiations? That’s when your senior salespeople or even you step in to close the deal with a mic drop.
It’s 2024—if you’re not automating, you’re not winning. Set up email sequences, calendar reminders, and auto-follow-ups so that no one gets left on "read." Let the robots handle the mundane, and you can focus on schmoozing your high-value clients.
You know how the tech industry loves a good beta stage? Do the same with your negotiations. Set clear milestones for each lead: Stage 1: Discovery Call, Stage 2: Proposal, Stage 3: Price Haggling, Stage 4: Client Brags to Their Colleagues About Closing with You. Each stage gets a different level of attention, and each one brings you closer to the prize—signed contracts and a well-deserved pat on the back.
Why switch gears constantly between leads at different stages when you can batch them together? Schedule your pricing calls all in one block, do your demos in another, and save Fridays for crisis management. (Because let’s be honest, there will be crises.)
Make sure your team knows how to adapt like a JavaScript framework. Train them on negotiation tactics and how to handle objections with the finesse of a server migration. That way, whether they’re talking to a scrappy startup or a CIO, they’re ready to bring home the bacon—or in tech terms, the closing signature.
So, there you have it: running a sales team with a value-based pricing game plan in the tech world is like coding your way through bugs—you know there’s a better way, and now you’ve found it. With value-based pricing, your sales team doesn’t just sell; they provide value, while ensuring the price reflects the ROI your customers will be bragging about at their next board meeting.
Now, grab your coffee (or matcha, we don’t judge), rally the troops, and go crush those deals like a server overload on Black Friday.
(And remember, the next time someone says, "What’s your discount?" just smile and say: "Value doesn’t need a discount, my friend.")
Tolulope…your sales Engineer 👨🏿💻.
What is Value-Based Pricing? (Spoiler: Not Free)
Implementing a Value-Based Pricing Strategy (Or, How to Sell Ice to a Data Center)
1. Become the Sherlock of Customer Pain Points
2. Customize That Pitch Like It’s a Slack Emoji
3. Case Studies: Your Holy Grail
Delegating Negotiation Stages (Or, How to Not Lose Your Mind on a Jam-Packed Calendar)
1. Assign Negotiations Like You’re in a Multiplayer Game
Tolulope Arobieke·5 min read
