The dictionary defines process as “a series of actions or steps taken in order to achieve a particular end.” (I think that’s pretty close.)
We all use processes –– at work, at home, and just about anywhere. Suffice it to say, we can’t live without them.
The important thing to know about processes –– the thing they all have in common –– is they can be studied, analyzed, measured, and improved.
Step seven in the typical sales process is pricing. This is a point of constraint for many businesses. You may hate this step. You may feel insecure about it. Or you may worry about pricing too high or too low.
How you talk about pricing is part of a process. And that process can be choreographed. In How to Close More Business in Less Time, I tell the story of a company called Hallmark Home Remodeling and how their presentation about pricing was carefully choreographed.
While they didn’t use the same words each time they presented, they did follow a format –– a structure, a process.
Working with Hallmark, we created a pricing strategy and a way to present it. We created a chart much like my Steps in a Typical Sales Process chart.
During the early months, we critiqued each presentation. We made numerous changes to the presentation process.
By continually studying it, analyzing it, and measuring it, we improved it –– to the point where their closing ratio jumped. Where they were closing one or two out of ten, they were now closing five out of ten. The goal always is to increase that.
They learned pricing was no longer a problem if they stuck to the process.