LC2:P2 – Negotiating Tips & Tricks
In our second Listener’s Choice, Negotiating Best Practices, Bobby and Brian lay out a question from a listener about how to best a deal in the final stages.
Here are the notes for the show!
Reminder – check out the review for You Can Negotiate Anything – highly recommended by the guys. Brian reminds listeners to check out our Tools site, continues to be our most visited part of our site!
Bobby & Brian cover the listener’s question: “How can I get better at those last-minute negotiations with a client? Literally, at the final proposal/solution delivery session when they keep asking for more?”
You have to have an abacus (Bobby’s visual) of things you want to bargain with…What are 10+ things you are going to ask for when they keep asking for stuff?
- Do you even know what you are able to offer? If not, how do you practice!
- Make sure you are in a spot of a final list of requests from the prospective customer. Don’t let the “asks” spread out!
- Understand the approval process (who will you be negotiating with?)
- Tactics to preserve price
- Contract length, start date/finish date
- Growth – built in?
- Favorable contract terms
- Commitment to the portfolio/broader SKU commitment
- Financing options/split up payments
- Specific resource/ consultant
- Fixed fee/no contingencies
- Renewal terms
- Executive sponsorship
- Customer Reference
- Get specific – “3 references over the first quarter after implementation”
- Case study
- Commitment to join a global sales event
- Check out Bobby’s “coffee” story @ 12:30 – a great way to express value!
- Practice, practice, practice – rehearse the discussion, what questions might come up? How will you respond? What “chips” do you have? What is the journey of the evaluation?
Welcome to The Tech Sales Show brought to you by techsalesshow.com! In this first Listener’s Choice, we are aiming to help current and future tech sellers with negotiating. You will hear us often say Average Sucks, Average is the Enemy and Don’t Be Average! The goal of the Listener’s Choice is to answer your questions, and to provide tools to make you a top account exec!
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