Primary Intelligence Releases New Industry Insights Report “How to Win at a Higher Price”
New Research reveals approaches in B2B sales opportunities that led companies to win or lose when priced higher than the competition
DRAPER, Utah (May 3, 2018) – A new Industry Insights research report from Primary Intelligence finds that in 25% of B2B sales wins, buyers selected the more expensive vendor. But selling at a higher price also comes with risk. Almost 50% of losses are priced higher than the competition.
The comprehensive study from 900 highly competitive B2B sales deals uncovered practices needed to win higher priced sales opportunities: Buyers typically evaluate higher priced vendors by balancing value and risk across the vendor’s product performance, perception of vendor stability and support, and vendor’s ability to understand the buyer’s needs. The study also illustrates how companies can use their higher price as an asset.
The report, titled How to Win at a Higher Price highlights key strategies B2B sales, marketing, and product leaders can implement to win as the higher priced vendor. The report shares best practices such as:
- How to avoid the higher-priced deal breakers
- How to win without conceding on price
- The most important advantage vendors can establish
- The must-haves the buyers seek and how vendors can meet them
“These results validate the notion that being the higher priced vendor does not always translate to a lost sales opportunity. The ability to demonstrate value and clearly delineate differences in the product are critical factors that must be proven for the higher priced vendor to win,” said Melissa Short, Industry Insights Director at Primary Intelligence. She also shared, “Understanding buyer needs is another tipping point between wins and losses for higher-priced deals.”
The report is part of the Industry Insights series from Primary Intelligence. More information about the report can be found at https://www.primary-intel.com/industry-insights/win-at-a-higher-price/. An infographic of the report is also available at https://www.primary-intel.com/industry-insights/win-higher-price-infographic/.
About Primary Intelligence
Primary Intelligence delivers revenue outcomes for B2B marketing, sales, and product leaders, helping clients win more deals and retain more revenue through Win Loss Analysis and Customer Experience Analysis. Primary Intelligence speaks directly to buyers and sellers to uncover insights, root causes, and the path to improvement. Our customers include 6 of the Fortune 20 and a number of Fortune 500 companies.
Primary Intelligence has enabled more than 18,000 product management, marketing, sales, competitive intelligence and customer experience professionals across more than 30 industries to hear the voice of their buyers. It’s all possible thanks to our TruVoice software, proven methodologies, and exceptional people. For more information about Primary Intelligence, visit http://www.primary-intel.com.