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Is that Really your Best Price?

Is that Really your Best Price?. Presented by Colleen Francis. What Negotiation is…. The art and science of give and take between you and a client resulting in a mutually profitable relationship. What Negotiation isn’t.

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Is that Really your Best Price?

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  1. Is that Really your Best Price? Presented by Colleen Francis

  2. What Negotiation is… The art and science of give and take between you and a client resulting in a mutually profitable relationship

  3. What Negotiation isn’t Wrestling your client to the mat by pulling their hair at the end of the sales cycle! A bloody battle for power resulting in a triumph over your client where you seek to win at all costs leaving your customer to lose.

  4. Most Common Negotiating Mistakes • Making unilateral concessions • Talking to much • Losing control of your emotions • Giving ultimatum • Being unprepared • Forgetting about style • Thinking money is the real issue

  5. Colleen’s Rule Most negotiating problems are selling problems. Great negotiators focus on being great sales people first which reduces the amount of negotiating to a minimum. Great prospecting and qualification skills are the best negotiating tool you can develop

  6. The Negotiator’s Mindset… “Whether you think you can or you think you can’t, either way you will be right.” - Henry Ford

  7. Altering Your Mindset • Remember your successes • Always have other opportunities • Value what you sell • Be nice • Stay focused on the solution • Get to work preparing

  8. Hold Firm “Huh?” / “Oh” / “really?” / Mmmmm “I think it’s great that you are looking to get the best deal for your company. You can be sure that I have already offered you my best price.” “Discount?” “I’m sure you do” 3 second pause

  9. Repeat and Question “Gee, you’re putting me in a tough position – I know I won’t get that approved. I’d hate to see this fail after we’ve put so much work into it on both sides.” Is there any other way to move ahead? “Sounds like you’ve found something you think is a better option?” “It would be a shame to see everyone’s hard work not produce any results.” Anything other than price you would suggest? “Why is a discount important to you?”

  10. Useto Get Use it to clarify a missed point “Colleen I am confused, I thought you wanted this product delivered at the end of the month? Did I write down the wrong date?” Use it to confirm commitment “Jim, I sense that you are not 100% comfortable with this proposal, did I miss something important, or did I miss the mark completely?”

  11. No Money Concessions Rule #1 Stay calm on the inside. Rule #2 Give concessions in small pieces. Make sure not to give away your most valuable concessions first. Rule #3 Perception matters. Give concessions slowly, only after a sufficient “hold”. Rule #4 Don’t give anything away for free. Develop a knee-jerk reaction to always ask for something in return.

  12. Try Not to Give Up Price Broaden the scope – Get to the real buying issues “Do you remember when we were speaking about XYZ? That’s still important to you right?” “I notice that you are looking for a better per bag price. I imagine that is because you want to order twice as many bags?” “I notice that you are looking for the cheapest price. I imagine that’s because you are O.K. with me finding a less advance product?”

  13. Try Not to Give Up Price Figurative Concessions Allow your customer to save face by providing them a concession that does not cost you any money, or very little money. Give Options, Not Discounts. What happens when you go into a jewelry store and you can’t afford to buy the first ring that they bring out to show you?

  14. Negotiation Prep List

  15. Giving up the $$$$ Get an IOU “I’m not sure if I am going to be able to meet your terms, but assuming I can make this happen from my end, is it fair to say that you are willing to go ahead right away with this contract? Understand their Position “Why is a 10% discount important to you?”

  16. Giving up the $$$$ Get something in return “I’m not sure that I can get you that price. If I can, is it fair to say that you will be able to go ahead today? “I’m not sure that I can get you that price. If I can, is it possible for you to order 10 instead of 7? “I’m not sure that I can get you that price. If I can, are you able to act as a reference and a case study for us?

  17. Negotiation Prep List

  18. Resources: • www.EngageSelling.com • www.ColleenFrancisBlog.com • www.Lead-Up.com(for 30 days free coaching)

  19. In Other Words…Be Prepared • Slow down • Develop a knee jerk reaction • Know what you want in return • Anticipate • Respond with questions • Know your breaking point • Look for and offer alternatives • Have lots of prospects so walking away is easy!

  20. And if you forget everything else, at least remember this ONE thing…..

  21. You can’t sell to everyone

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