Lowering your price….

Lowering your price….

The madness of Black Friday is just behind us – and now we’re entering the final month of the quarter – and for many, the last month of the Fiscal Year. It’s that month where – especially in B2B software – the pressure is on. It’s that month that could make or break the year.

A couple of weeks ago, I wrote about this already: “Will they buy?” Honestly – looking at your own SaaS pipeline – how many of the prospects you managed at that point are still undecided – not showing any urgency to move? So the question remains: “Will they buy?” Will they?

As time runs out – so do our options to end the year with a bang. And that typically leads to one thing: Lowering our prices. No one wants this, agree? No one benefits from the need to lower prices – not your business, and frankly, not for your customer either.

We all know it – yet still, we leave no other option. The magic question remains: What can we still do to close each deal at a premium before December ends? Here are some ideas that might help:

  1. Help them see doing nothing is not an option. What are the situations they are going through day-in-day-out that they’ve come to see as the norm – situations that are not normal? Name them – the waste, the delays, how this holds the business back – and potentially putting it in danger.
  2. Instead of letting them focus on the ‘size of the price’ – bring your price back to the lowest common denominator f.ex. The fee per user / per month. Then explain how they’ll get a +10x gain from this – hands down. Often the total investment becomes the stumbling block – where if you look at things from a different perspective, it becomes a no-brainer
  3. Walk a mile in the shoes of the most influential decision-makers and paint a picture of what they will become as a consequence of your solution. Think about how your solution will help them make a meaningful difference. How this will change their status. How they could get promoted just because of the impact your solution helped them create.
  4. Help the ambassador inside your prospect’s organization articulate the story to convince their boss. It’s often not that they don’t see it – it’s the person required for the final signature. And this means helping them connect the dots: How this project will have a meaningful impact on meeting the board-level targets of the organization.
  5. Finally – is this about money at all? Or is this about other hurdles that need to be bridged? Required resources on their side? Infrastructure? Risks of migration? The perceived switching effort? Lacking skills on their end? Fear or anxiety? If the arguments are not financial – why try to fix them by lowering your prices? Instead, help them find alternative routes to say ‘yes!’

I want to leave you with a question to reflect upon:

What could you do differently in 2022 to close the year with a bang end of Q3?