Mastering the Art and Science of Pricing Conversations: A Stakeholder-Specific Guide

Pricing discussions are often the moment of truth in the sales process. Get it right and you‘re a hero. Get it wrong and the deal is dead in the water.

As if the stakes weren‘t high enough, a recent trend has made these conversations even trickier to navigate. Gartner found that the typical buying group for a complex B2B solution now involves 6 to 10 decision makers, a significant increase from previous years. Each of these stakeholders comes to the table with different needs, priorities, and levels of influence.

HubSpot‘s Dan Tyre puts it bluntly: "The days of single-threaded deals are over. If you‘re only talking to one person, you‘re doing it wrong."

So how do you tailor your pricing discussions to resonate with each stakeholder while still driving towards a win-win? We turned to some of the top minds in sales to find out. Through research and interviews with sales leaders, we‘ve compiled the ultimate guide for talking price with the three stakeholder types that matter most: decision makers, influencers, and champions.

But first, let‘s set the stage with some eye-opening data on the state of B2B buying and pricing.

The Changing Face of B2B Buying

The shift towards consensus-based buying has been steadily rising for years, but 2020 saw an acceleration of this trend. According to Gartner research:

• The average buying group size increased from 11 to 14 individuals
• 75% of buyers now say they prefer a rep-free buying experience
• Buyers spend only 17% of their time meeting with potential suppliers

At the same time, pricing pressure and scrutiny are at an all-time high:

• 61% of buyers say they‘re less willing to buy when pricing isn‘t clear (HubSpot)
• 60% of buyers want more benchmark data to compare prices (TrustRadius)
• Price is the #1 reason buyers rule out vendors at each stage of the funnel (Gartner)

All of this points to an increasingly complex and buyer-led sales landscape where pricing conversations are make or break. To win, sellers need a stakeholder-specific approach grounded in value and tailored to what each person cares about most.

Let‘s break it down, starting with the elusive decision maker.

Engaging Decision Makers on Price

Ah, the decision maker. The person holding the ultimate power to say yes or no to your deal. While they‘re not always involved in the day-to-day evaluation, their opinion matters most when it comes to price.

Identifying the Decision Maker

First thing‘s first, you need to identify who the real decision maker is. Don‘t assume it‘s the person with the fanciest title or the one your initial contact says is in charge.

"I coach my team to ask, ‘Whose budget does this come out of?‘ not ‘Are you the decision maker?‘" says Elle Midey, Head of Corporate Sales at HubSpot. "The budget holder is almost always your economic buyer."

Other questions to suss out the decision maker:

• How does the decision-making process work here?
• Who else would need to weigh in on this?
• Who has veto power?
• Whose signature would be on the contract?

Understanding Decision Maker Priorities

Once you‘ve identified the decision maker, it‘s critical to uncover what really matters to them. At the executive level, it‘s typically less about features and more about strategic business outcomes like:

• Revenue growth
• Cost reduction
• Entering new markets
• Improving customer retention/LTV
• Mitigating risk
• Achieving a competitive advantage

"Your pricing conversations need to be grounded in what they care about most," advises Chris Orlob, Senior Director of Product Marketing at Gong.io. "If you lead with a discount or get in the weeds on features, you‘ve already lost."

Tailoring Your Pricing Discussion

When it comes time to talk numbers with the decision maker, context is key. Remember, they likely haven‘t been involved in the day-to-day evaluation, so you need to connect the dots between your price and the value it delivers.

Some tactics to try:

• Anchor high and re-frame. Don‘t lead with your best price. Start high and then re-frame in terms of ROI. "I know $100K may seem like a lot, but when you consider the potential $500K revenue upside, it‘s a small investment in growth."

• Provide industry benchmarks. Executives love external validation. Come prepared with data on what similar companies spend and the results they see. "A recent study found that companies investing $75K+ in solutions like ours see a 15% increase in qualified pipeline."

• Make them the hero. Frame your solution as the thing that will help them achieve their goals and make them look good to the board. "Implementing this will put you on track to exceed your revenue targets and position you as a leader in the space."

• Flip the script on discounts. If they push for a lower price, turn it back on the value you provide. "We could lower the price, but we‘d also have to reduce the scope. Is it worth sacrificing $X in potential ROI to save $Y?"

Above all, approach the conversation as a trusted advisor versus a salesperson. "Your job is to help them make the best decision for their business, not just close the deal," reminds Midey. "If you do that, price becomes a lot easier to navigate."

Handling Decision Maker Objections

Even the most perfectly positioned pricing discussion can be met with objections. Some common ones from decision makers include:

• "It‘s just too expensive"
• "We don‘t have budget for this right now"
• "I need to see more proof of ROI before investing"
• "We‘re already locked into another contract"

The key is to dig deeper and understand the real concern behind the objection. Is it cash flow? Timing? Lack of trust?

"I always teach my team to ask, ‘If budget wasn‘t an issue, would you move forward?‘" shares Kate Ahlering, CRO at Glassdoor. "If they say no, you haven‘t sold the value. If they say yes, you can figure out the money piece."

Some ways to overcome objections:

• Offer a pilot or phased approach to lower upfront cost
• Break the investment down into smaller, digestible chunks (e.g. cost per day)
• Highlight the cost of inaction or sticking with the status quo
• Tie pricing back to critical business outcomes
• Provide case studies or reference customers to validate ROI

If you‘ve tried everything and they‘re still not budging, know when to walk away. "No deal is better than a bad deal," cautions Orlob. "If you‘ve done all you can and they still don‘t see the value, it‘s probably not a fit. Move on and focus on better opportunities."

Enabling Influencers

Influencers may not have final sign-off, but they have the power to make or break your deal. Often tasked with evaluating solutions, their opinion carries serious weight with the decision maker.

Identifying Influencers

Similar to decision makers, don‘t assume you know who the influencers are.

"Influencers can be anyone from the end user to the head of procurement," notes Jeremey Donovan, SVP of Sales Strategy at SalesLoft. "Your job is to uncover them and understand their role in the deal."

Questions to ask:

• How does this typically work here? Who‘s involved in evaluating and recommending solutions?
• Who else would need to be bought in for this to move forward?
• Who has the decision maker‘s ear?
• Who stands to benefit most from this purchase?

Influencers exist on a spectrum – some may simply provide information while others make a formal recommendation. The more you understand their level of impact, the better you can tailor your approach.

Understanding Influencer Priorities

Unlike executives, influencers are typically more focused on the details and how your solution will impact their day-to-day. Common motivators include:

• Increasing efficiency/productivity
• Reducing manual work
• Improving reporting/visibility
• Hitting their KPIs
• Making their boss happy
• Career advancement

"Influencers are often assessed on very specific metrics," explains Ahlering. "The more you can tie your value prop to those, the better."

Other questions to uncover their priorities:

• What‘s top of mind for you right now?
• What are your main challenges/pain points?
• How are you currently measured?
• What would a major win look like for you this quarter/year?

Tailoring Your Pricing Discussion

Armed with an understanding of what motivates them, you can tailor your pricing conversation accordingly. The goal is to connect the dots between your solution and their success.

Some key things to focus on:

• Break down the ROI. Don‘t just hand them a high-level ROI percentage. Break it down into hard dollars and cents. "This would save Amy 10 hours a week, which is $400 in productivity gains. Over a year that‘s north of $20K."

• Do the heavy lifting. Provide influencers with plug-and-play materials they can use to sell your solution internally – decks, one-pagers, pricing spreadsheets, etc. "I know you have to present this to Diane. Here‘s a deck that breaks down the key points and ROI."

• Anchor in value. Avoid discussing price in a vacuum. Always tie it back to the outcomes it enables. "I know $50K may seem like a lot, but when you consider it will help you hit your goal of increasing revenue by 25%, it‘s a no-brainer."

• Make it a no-brainer. Influencers are busy and often risk-averse. Make it easy for them to say yes by showing how your solution is the obvious choice. "When you stack us up against the other options, we‘re the only ones that can deliver X, Y, Z."

The more you can position your solution as a slam dunk for the influencer, the more likely they are to go to bat for you with the decision maker.

Handling Influencer Objections

Naturally, influencers will have their own set of objections and concerns. Some you may hear:

• "I need to see more details on exactly how this works"
• "I‘m worried about the implementation/change management"
• "I don‘t have time to take this on right now"
• "I‘m not sure I can get my boss on board"

Again, the key is to understand the real issue and address it head-on.

Some ways to handle common influencer objections:

• Offer a demo or trial period to let them see for themselves
• Provide a detailed implementation plan and timeline
• Highlight ease of use and quick time-to-value
• Share customer stories of smooth implementations
• Arm them with everything they need to sell it internally

"Influencers are putting their neck on the line for you," reminds Donovan. "Your job is to make them feel confident and equipped to handle any pushback."

Empowering Champions

If influencers open doors, champions help you close them. These are your internal cheerleaders who see the value of your solution and proactively sell it within their organization.

Identifying Champions

Unlike decision makers and influencers, you can‘t always choose your champion – but you can spot them. Some telltale signs:

• They immediately grasp the value of your solution
• They ask a lot of questions about how it works
• They proactively share information about internal processes/priorities
• They offer to connect you with other stakeholders
• They go out of their way to sell your solution internally

"Champions are worth their weight in gold," emphasizes John Barrows, sales trainer and author. "When you find one, invest heavily in that relationship."

Understanding Champion Motivators

Champions go above and beyond because they‘re invested in your success. Some common reasons they may emerge:

• They‘re personally frustrated with the current way of doing things
• They see your solution as a game-changer for their business
• They believe in your mission/values as a company
• They want to be seen as a change agent or innovator
• They have a personal connection to you or your brand

"The best champions have a strong ‘why‘ behind their support," notes Barrows. "Uncovering that is key to a true partnership."

Questions to dig deeper:

• What made you raise your hand to be involved in this project?
• Why is this important to you personally?
• What would success look like for you?
• How can I best support you?

Enabling Champions to Sell

When it comes to pricing discussions, your champion is your best ally and proxy. They know the lay of the land and can help you navigate internal dynamics.

Some ways to set them up for success:

• Keep them in the loop. Make them feel like an honorary member of your deal team. Share regular updates and be transparent on next steps.

• Make them look good. Arm them with exclusive insights or sneak peeks they can selectively share to demonstrate their influence and access.

• Prep them for objections. Walk through the most likely objections they‘ll face and arm them with talk tracks and data to overcome them.

• Close the loop. If they make an intro or put their credibility on the line for you, circle back and let them know how it went. Make them the hero of the story.

"Enabling your champion is all about making them feel like they‘re part of something special," says Orlob. "The more you invest in them, the more they‘ll go to bat for you."

Co-Creating the Business Case

One of the most impactful things you can do with a champion is co-create the business case and ROI analysis. This is the key deliverable they‘ll use to sell your solution internally and justify the price.

Some tips for partnering on this:

• Provide a framework. Give them a starter spreadsheet or deck they can customize to their needs.

• Fill in the gaps. Leverage your experience with other customers to help them quantify the impact and show what‘s possible.

• Connect to goals. Make sure every point ladders up to a key business objective the decision maker cares about.

• Practice the pitch. Schedule time to run through the deck together and pressure test the narrative. Let them take the lead but jump in to support as needed.

Co-creating the business case positions your champion as a strategic partner to the decision maker and sets the stage for a pricing conversation grounded in value.

Bringing It All Together

Pricing conversations are a delicate dance that requires a keen understanding of each stakeholder‘s world. By taking a tailored, value-based approach to decision makers, influencers, and champions, you can navigate these discussions with confidence and close more deals at the right price.

Some key principles to remember:

• Do your homework. Deeply understand the buying dynamics and what matters most to each stakeholder.

• Lead with outcomes. Anchor your pricing in the business results it enables, not features and functionality.

• Provide evidence. Arm your champions and influencers with data, benchmarks, and customer proof points to make the case.

• Give to get. Every pricing conversation is a value exchange. Be clear on what you need in return for flexibility or discounts.

• Stay firm on value. If a stakeholder doesn‘t see the value, more discount won‘t help. Know when to re-frame and when to walk away.

Above all, approach each conversation as a trusted advisor versus a transactional seller. "Ultimately, your role is to help them make the best possible decision for their business," concludes Midey. "Pricing is just one piece of that puzzle. Focus on the big picture and the numbers tend to fall into place."