Bill Wilson, Co-Founder & CEO at Sales Right Co., joins me on this episode.
- Bill Wilson and Sales Right Co. are in Halifax, a growing technology center. Several tech schools and universities are based there. Halifax supports tech and entrepreneurship.
- Sales Right Co. is designed to provide transparent pricing for B2B SaaS. Sales Right Co. goes in a sales stack at the ‘late-stage opportunity.’ Sales reps create pricing guides for prospects to visualize options on the vendor website.
- The guides allow prospects to run scaling scenarios with multipliers and add-ons so they see what the product will cost for them, now and later, building trust. The Account Exec tracks how the prospect interacts with the guide.
- The AE builds a call-to-action into the guide, with links to set up a meeting, get an email, or make a commitment.
- Bill founded Sales Right Co. based on his experiences in buying Enterprise SaaS, having to make multiple inquiries to answer his questions, and also based on the proposal process he had used at his earlier company, MindSea.
- Andy learned as a young rep to quote early and often. A prospect is not qualified before they have bought into your pricing. People decide first if they will buy before they decide from whom they will buy.
- Bill talks about updating options in real-time during prospect conversations. Selling needs to be about making trade-offs with the buyer, not about discounting prices. The more simple the process, the easier the sale.
- Bill lets the customer lead the process. If the product doesn’t fit the customer, Bill doesn’t sell them on it. Lay your cards on the table, be transparent, line up what you think will work for them, and have them try out options.
- Bill and Andy knock down common excuses vendors use to keep their pricing private. Sales Right Co. pricing guides work well for companies with multi-axis pricing and multipliers. It makes their proposals easily accessible.
- Deals are won or lost on price. The presentation of the price makes a tremendous difference. Introduce it early in the discussion of the solution. Clients can’t decide to buy if they don’t know what the product will cost them.
- What the buyer wants at the beginning of the process may not be what they want, weeks into the process. Being able to modify the proposal offered in real-time is valuable. Collaboration and transparency lead to trust.
- Bill notes that reps hold out hope for a deal for far too long. A quick no is better than a long no.