As a salesperson, you can’t escape a negotiation every now and then.
You might say “why should I negotiate when I’ve had a great conversation, offered the right product or service and charge a realistic price?” Of course, you are absolutely right. Entering a negotiation means ending up making concessions and that’s not what you want.
So, if you are a perfect salesperson in a perfect world, there’s no need to negotiate. Unfortunately, the world is not perfect. And you?
Negotiating is making concessions...
If you can not prevent it and you need to make some concessions, then you should realise that you should always should get something in return. This is one of the most important rules of the game: nothing for nothing.
☛ By the way, if you want to better understand all the tips and tricks of doing excellent negotiations and get better results, then have a look at my training-webinar programme about negotiate excellently.
So… you have to make a concession and you want something in return. But what would you ask? This is what I call ‘exchange money’. And this could consist of banknotes or small change (coins). In the latter case, you ask something in return that has a more psychological than a substantial value.
If you make a small concession, then you should ask something in return that is proportional. You can’t make a concession worth € 50 on a deal that is worth € 10.000, and then ask a contract for 10 years instead of 1 year in return.
Yeah, of course, you can do it, but the question is how successful you will be and what it does to the climate of the negotiation.
So it must be proportional. And what is “small change”? You should think about that prior to the negotiation, to not have to come up with it on the spot.
Don’t think only of the usual aspects such as
✅ Payment conditions;
✅ Contract size;
✅ Duration of the contract
…because these are substantial demands. And they are banknotes instead of small change.
Try to think out of the box and come up with psychological concessions for small concessions from your side, such as:
✅ Approval to write a LinkedIn post or an article on your website about the co-operation;
✅ Ask your customer to be a positive reference for other customers of yours;
✅ Get a name plus an introduction at another company that your contact knows quite well;
✅ Get an introduction and access to other people in the customer’s organisation that you don’t yet have access to;
✅ Together, write a “customer story” or recommendation;
✅ Get an introduction to another department of your customer;
✅ Have an online- or physical meeting regularly to discuss the progress;
✅ Getting approval to use your customer’s logo on your website;
✅ Getting approval to discuss this case with other customer’s of yours (of course not their competitors…);
✅ Exchange information about the market and other relevant information that is important to you;
What else can you think of? Make sure you have these aspects at hand, to be able to make a success of your negotiations and come out in pretty good shape!