Jeb Blount - Selling the Price Increase

1 Cover

2 Title Page SELLING THE PRICE INCREASE THE ULTIMATE B2B FIELD GUIDE FOR RAISING PRICES WITHOUT LOSING CUSTOMERS JEB BLOUNT SALESGRAVY.COM

3 Copyright

4 Dedication

5 Preface: A Tactical Field Guide and System for Selling Price Increases

6 Foreword

7 Acknowledgments

8 PART I: Disrupt the Mindset of Fear 1 Sales Professionals Hate Price Increases Salespeople Hate Price Increases Price Increases Matter Types of Price Increase Initiatives Challenges Notes 2 The Five Fears Nobody Wants a Price Increase We Want Happy Customers, Not Conflict Mastering the Fear of Rejection 3 Awareness and the Origin of Fear The Origin of Fear The Curse of Fight or Flight The Obstacle of Rejection 4 Developing Emotional Self-Control Developing Obstacle Immunity Becoming Rejection Proof Four Keys to Developing Price Increase Obstacle Immunity Notes 5 Stop Worrying, Start Preparing Preparation and Practice Know Your Emotional Triggers Leverage Positive Visualization and Self-Talk Part One Wrap-Up: Reflections

9 PART II: Protect Customer Relationships 6 Relationships Matter Price Increase Initiatives Are Dual Focused Navigating Imperfection We Feel, Then We Think Customers Are People Note 7 Triggering Resentment and Contempt Treading on Raw Emotions The Gangrene of Relationships Making Amends The Procrastination Train Wreck Procrastination Can Put Customers in a Bad Position 8 Wait, I Don't Even Know You! Instant Resentment Neglect: The Grim Reaper of Account Retention 9 Price Increases When You Have All the Power You Need Me More Than I Need You 10 Make Breaking Up Hard to Do Leveraging the Status Quo Bias Be the Safest Choice Just Manage Your Accounts Part Two Wrap-Up: Reflections Note

10 PART III: Approaching Price Increase Conversations 11 The Three Approaches to Price Increase Conversations Price Increase Initiative Scenarios The Three Approaches: Presenting, Asking, and Defending 12 Defending Price Increases: Between a Rock and a Hard Place Most Customers Don't Get Angry over Price Increases Be Responsive Do Not Email It In Talk with People Message Matters: Be Knowledgeable If You Make Them Angry, Don't Make It Worse Shut Up and Listen 13 The Price Increase Sales Process Bend Win Probability in Your Favor with Negotiable Price Increases Presenting versus Asking The Five-Step Price Increase Sales Process Deep Dive 14 The Price Increase Risk Profile The 9-Box Risk Analysis Template Risk Profile Elements Losing Customers on Purpose 15 Planning the Price Increase Conversation 16 Set the Stage Customers Resist Change Prime Customers for Change Give Customers a “Heads Up” Leverage the Law of Reciprocity Set a Formal Appointment for the Price Increase Conversation Part Three Wrap-Up: Reflections Note

11 PART IV: Making Your Case 17 Message Matters Confidence Is the Key Ingredient Emotional Contagion: Customers Respond in Kind Developing Confidence Trust the Process Change Your Self-Talk Change Your Physiology Change Your Words Avoid Projecting Notes 18 Influencing Price Increase Acceptance The Three Drivers of Price Increase Acceptance Answering WIIFM Authenticity Notes 19 The Eight Price Increase Narratives Economic Fairness Narrative Maintain Quality Narrative Continue Services Narrative Reverse Value Narrative Reciprocity Narrative Past Value Narrative Present Value Narrative Future Value Narrative 20 The Price Increase Because Statement The Five-Step Price Increase Because Statement Framework Personalized, One to One Because Statements One for Many Because Statements Crafting Because Statements Note 21 The Formal Price Increase Business Case Sutton's Law: Go Where the Money Is Derisking the Large Account Price Increase Sutton's Corollary Approaching the Formal Business Case Presentation Price Increase Business Case Structure Weaving the Narratives Part Four Wrap-Up: Reflections

12 PART V: Closing, Handling Objections, and Negotiating 22 Closing The Assumptive Close Framework for Price Increases Shut Up 23 The Ledge Technique Look Out! Here Comes Fight or Flight Use the Ledge Note 24 Four Techniques for Handling Price Increase Objections Just Let Them Vent Enroll Them Space and Time Relate, Explain, Confirm 25 Negotiating the Price Increase: D.E.A.L. Framework D.E.A.L. Negotiation Framework 26 Discover Capitulate Counter Confront Clarify Get the Issues on the Table 27 Explain Do the Math The Value Equation 28 Protect the Points What Your Customer Is Really Negotiating For Leverage Funny Money to Protect Your Points Note 29 Align and Lock Negotiation Map Deploying the Give-Take Playlist Lock It Down Prepare to Win Part Five Wrap-Up: Reflections

13 PART VI: Leading and Coaching Price Increase Initiatives 30 The Battle Begins Leaders Hesitate Transforming a Sales Team into a Price Increase Machine The Three Pillars of Leadership Excellence You Need Your People More than They Need You 31 Leading Price Increase Initiatives You Are Always on Stage Salespeople Buy In for Their Reasons, Not Yours 32 Managing Price Increases Big Hat, No Cattle Ninety Percent of Strategy Is Execution 33 Coaching Price Increases Knowledge Acquisition Versus Knowledge Application Coaching for Improved Price Increase Initiative Performance Part Six Wrap-Up: Reflections

14 About the Author

15 Training, Workshops, and Speaking

16 Index

17 End User License Agreement

1 Chapter 17Table 17.1 Managing Nonverbal CommunicationTable 17.2 The Words You Use

2 Chapter 32Table 32.1 Mapping the Process by Price Increase Initiative

1 Chapter 13Figure 13.1 The Five-Step Price Increase Sales ProcessFigure 13.2 The Sales EQ Proven Process

2 Chapter 14Figure 14.1 9-Box Risk Analysis TemplateFigure 14.2 Price Increase Risk Analysis ElementsFigure 14.3 Price Increase Risk Analysis ExampleFigure 14.4 Price Increase Risk Profile ScenariosFigure 14.5 Fit Matrix

3 Chapter 20Figure 20.1 The Five-Step Price Increase Because Statement Framework

4 Chapter 25Figure 25.1 D.E.A.L. Negotiation Framework

5 Chapter 28Figure 28.1 Funny Money Inventory and Value Bridges

6 Chapter 29Figure 29.1 The Sales Negotiation MapFigure 29.2 The Give-Take Playlist

7 Chapter 30Figure 30.1 Three Pillars of Leadership Excellence

1 Cover

2 Table of Contents

3 Title Page SELLING THE PRICE INCREASE THE ULTIMATE B2B FIELD GUIDE FOR RAISING PRICES WITHOUT LOSING CUSTOMERS JEB BLOUNT SALESGRAVY.COM

4 Copyright

5 Dedication

6 Preface: A Tactical Field Guide and System for Selling Price Increases

7 Foreword

8 Acknowledgments

9 Begin Reading

10 About the Author

11 Training, Workshops, and Speaking

12 Index

13 End User License Agreement

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