Salespeople that do not understand the finance behind their customer’s business are unable to uncover, understand, and interpret their customer’s key financial and business drivers. This leads to lost profitability because salespeople are forced to compete on price.
One of the biggest concerns expressed by most sales executives we work with is defending price. No single measurement is more important to the financial health of a business. Yet, most salespeople do not fully understand or appreciate the impact that pricing has on profitability. The prevailing view is that a small discount required to win a piece of business is a small price to pay for securing the business. However, senior management knows that a drop in price is a drop in profitability - dollar for dollar.