Master the art of sales negotiation in 3 easy steps.

All sales people want to excel and achieve their goals.

There are two possibilities: sign more and/or sign better.

A salesperson trained in negotiation can earn as much (or even more) by signing 10 contracts than a colleague who sells his product to sign 20!

What's the difference between a good salesperson and a bad one?

A good salesperson wants to close the sale.

The average seller wants to close the sale at any price.

They tend to forget that if they've reached this stage of the sales cycle, it's because there's a real interest on the customer's side: they want your product or service.

He needs it. So why give in?

Our tips to stop losing money in the home stretch.

Don't be overwhelmed.

There's just one hurdle left to clear. The price.

The best salespeople keep their heads and forget about sales.

This desire to close a sale quickly before the prospect changes his or her mind.

Keeping a cool head:

1/ Be prepared.

Imagine the agenda for the meeting and how your arguments will unfold.

What's your offer? What's your floor price (the one you can't go below)?

What concessions are you prepared to make to justify a certain discount?

Agree to lower the price, but in return: a longer commitment period. No trial period. If you sell software: a larger user base.

Remember: when customers negotiate, it's a good sign. They've already decided to buy your solution.

2/ Become rational: measure the things that matter.

Review the various exchanges you've had with your future customer and capture all the elements that will convince you that your prospect needs your solution more than he'd like you to believe.

• How many people will attend the meeting? How many people attended previous meetings?
• How many e-mails have you exchanged since you started talking?
• How many appointments and calls have you received?

If the intensity is low, you might think that the motivation on the other side isn't very strong.

When the intensity is high: you've exchanged nearly a dozen e-mails, you've had several meetings, you've met more than 2 or 3 contacts, then it's reasonable to assume that your prospect is showing an interest.

Why else would he invest so much time and resources? Review the key moments of all your exchanges.

If you're still working the old-fashioned way, reread your note-taking. Take your time.

If you're in the field, this will take you 3 minutes. Concentrate on the essentials and replay the moment when you talked about price in your last conversation with your prospect.

The best salespeople spend 4 times as much time preparing for their negotiation meeting.

Structuring your sales negotiation

1/ Laying the base

‍ "Working with you is one of my top priorities this year, and I'm going to do everything I can to make it happen." ‍

Explain why it's important for you to work with your prospect.

They need to understand that you' ll do everything in your power to make the sale happen.

They need to be sure that you'll do your best and that the price you quote will be the best possible price.

Tell her.

2/ Why you can't sell your product

Ready for anything. But there's always a limit. Make him understand that limit. ‍

"I'm willing to do anything to work with you, but I can't jeopardize our business either." ‍

If your prospect makes an "aggressive" request (half price, for example), start by apologizing. ‍

"Sorry, I wish I could give you this discount but [...]." ‍

If you've built up a relationship of trust, no prospect will want you to jeopardize your business.

3/ Propose alternatives

‍ Nonbras, no chocolate. ‍

You can lower your price. But not at all. Every reduction must be justified.

Never give in without getting something in return.

This is known as the principle of reciprocity (give and take in everyday language).

In this way, you establish in your prospect's mind that he can vary the price according to what he offers you.

If you give up without thinking, you can expect the other person to come back for more.

You can make proposals to your prospect on the following negotiation pillars: ‍

The duration of the POC (or its very existence). ‍

Depending on the nature of your product, you can compromise on the POC... or do away with it.

Throughout the sales cycle, you've assured your prospect that your product will transform their business or the way their team operates. Dare. Go all the way.

‍ "Very well. I can quote you this price [X] but in that case we'll remove the POC".

Commitment period

You can also play on the commitment period: if your prospect commits to you for five years, you can justify a substantial price reduction.

‍ "I can set that price for you, but in that case, you'll have to make a longer commitment."

Signature ‍ ‍

This technique is particularly effective at the end of term, but not only. ‍

"I can make you that price, however, do you think it's possible on your end to sign before September 30?" ‍

‍Payment schedule‍

Whether you're an established company or a start-up, getting an upfront payment, i.e. an equivalent payment for the whole year from the beginning, is a good deal.

Again, don't give in without extracting it from your prospect if it's a priority for you. This is especially true for companies with cash-flow problems.

‍ Beware, your prospect may ask for an additional discount in exchange for this direct payment. Again, negotiate.

Once again, remember: the prospect is interested in your solution. It's in your interest to try and get the best deal by making a counter-offer.

‍ Customer testimonial ‍

Particularly when your customer is well-known and recognized, obtaining a customer testimonial can help you attract other prospects to their sector or ecosystem.

This establishes your credibility with future customers, who are often reassured by prestigious clients. Other major companies have chosen to place their trust in you.

4/ Negotiate euro by euro

Retaliate. Reduce euro by euro.

Whether you're selling airplanes or green beans, every euro counts!

Example: if you sell software with a license invoice, you'll see that the impact can be very significant.

For 50 licenses, every euro lost is equivalent to €50 per month or €600 per year. All you have to do is give up 10 euros and you've lost €6,000!

That's why it's important to negotiate, and only give up in exchange for something else (early signature, multi-year commitment, etc.).

5/ Turn your back

Just like your prospect. You have a limit. When it's reached:

‍ "Look, I feel terrible about this. Working with you was my most important annual goal, but I have a feeling that won't be the case right now." ‍

Conclusion

Focus on this exercise.

Every effort your prospect asks of you is very important. Make them feel it.

The golden rule: when your prospect negotiates, it's a good sign. Don't be overwhelmed.

Keep a cool head and never give in without asking for something in return.

‍

You hold all the cards!

Better,