Understanding Value from the Customer's Perspective with Deepak Bhootra

Deepak Bhootra is the CEO of Jabulani Consulting, with over 19 years of experience in the tech industry, including significant roles at Hewlett Packard and Sun Microsystems. Deepak has a deep understanding of pricing strategies and their impact on sales performance. He is passionate about helping organizations navigate the complexities of pricing and sales operations.

In this episode, Deepak shares his journey into pricing and sales, discussing the cultural nuances of negotiation in India and how they influence pricing strategies. Together, they explore the challenges salespeople face with pricing, the importance of understanding value from the customer's perspective, and how AI can play a role in pricing strategies.

 

Why you have to check out today’s podcast:

• Discover the common pitfalls salespeople face when discussing pricing.
• Explore the importance of aligning pricing with customer value and the psychological aspects of pricing.
• Learn how AI can enhance pricing strategies and sales effectiveness.

 

“Pricing is something that companies use to control sales behavior. Salespeople don’t like to be controlled.”

– Deepak Bhootra

 

Topics Covered:

01:46 – Deepak introduces himself and shares his background in pricing. 03:10 – The cultural significance of negotiation in India and its impact on pricing. 07:44 – The relationship between sales and pricing and the challenges salespeople face. 14:21 – Discussion on the emotional aspects of pricing and how they affect sales decisions. 17:12 – Insights into the importance of understanding value from the customer's perspective. 23:09 – The role of AI in enhancing pricing strategies and sales effectiveness. 30:35 – Deepak’s pricing advice. 33:18 – Connect with Deepak.

 

Key Takeaways:

“Salespeople need to understand the value of pricing and how it relates to customer perception.” – Deepak Bhootra

“Value is in the eye of the beholder. Understand what the customer values before discussing pricing.” – Deepak Bhootra

“When you ask a budget question right up front, you're actually setting yourself up for a pricing discussion.” – Deepak Bhootra

“Pricing is one of those conversations where you have complete control of your CRM updates, you have complete control over your forecast, your relationship, but you do not have control over the price because someone else dictates the price.” – Deepak Bhootra

“When you are looking at price, giving a discount is the easiest lever to pull right up front. And typically (salespeople) they do it because they can also bamboozle you with a lot of stuff.” – Deepak Bhootra

 

People/Resources Mentioned:

• Jabulani Consulting: https://jabulaniconsulting.com
• Amartya Sen: https://en.wikipedia.org/wiki/Amartya_Sen

 

Connect with Deepak Bhootra:

• LinkedIn: https://www.linkedin.com/in/deepakbhootra/
• Email: deepak@jabulaniconsulting.com

 

Connect with Mark Stiving:

• LinkedIn: https://www.linkedin.com/in/stiving/
• Email: mark@impactpricing.com