If you've been asked to bid in an Online B2B Reverse Auction and want to know the best practices, strategies, and tactics, you're in the right place.
ARE YOU ASKING YOURSELF ANY OF THE FOLLOWING QUESTIONS?
As the Current Supplier:
Why is my customer doing this? I have been supporting them for YEARS.
How to I keep this business without losing all of my margins?
Who are they inviting to bid against me?
Will my customer really make a supplier change?
How much does my relationship with the buyer matter?
As a Prospective Supplier:
This is my first Reverse Auction, what do I do?!? or,
I do these all the time but never win any business. What am I doing wrong?
This may be my only chance at getting in here. How do I make the most of it?
How do I determine if this is really a good opportunity or just a waste of my time?
How do I convince the buyer to actually make a supplier change?
WANT TO START GETTING SOME ANSWERS?
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And What to Expect from This Site
As the leader of strategic pricing for a very large manufacturing company, I managed over $400 million dollars in pricing proposals each year across 6 completely different markets.
I PROVIDE PROVEN STRATEGIES BASED ON FIRST-HAND EXPERIENCE THAT WIN MORE BUSINESS AND PROTECT MARGINS.
Coming into the strategic pricing role I quickly realized online B2B Reverse Auctions are frequently managed by commercial team members with little or no experience in the process, and that much of the “traditional wisdom” is completely wrong.
The organization's performance before I arrived was very typical for a supplier participating in Reverse Auctions:
As the Incumbent: 10-20% reductions in overall selling price during auctions
As the Challenger: Win-rates of fewer than 2 in 10 Auctions
I made it my personal mission break down the Reverse Auction process from beginning to end, identify the key tools and drivers for success, and develop market-specific strategies to optimize margins and improve win percentages.
Following years of analyzing data, aggressively questioning buyers, and studying the psychology of selling (and gambling) the end results are something of which I am truly proud.
A 240% increase in bid wins with a simultaneous reduction of margin losses!
In many cases pricing after the bid was HIGHER than the pricing going into the bid!
It was a certainly a fun ride, but now that my official corporate pricing tenure has ended, I want to share everything I learned with readers like you!
I hope you learn something new on each visit to this site so you can rapidly grow your business and protect your well-earned profits!
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