Negotiating with Backbone
Eight Sales Strategies to Defend Your Price and Value
Number of pages: 208
Publisher: FT Press
BBB Library: Sales and Marketing, Communication
ISBN: 9780133064766
Editorial Review
Sales professionals now confront the most serious threat to their success. Regardless of their size, industry, country, customer type, nature of the relationship or amount of value they provide, sales professionals are finding that purchasing decisions are increasingly being limited by procurement. The modern procurement function is purchasing on steroids. Where traditional purchasing managers negotiated, procurement officials attempt to dictate. Procurement deploys a variety of tactics designed to do one thing: gain unprecedented discounts and concessions out of even the most sophisticated sales professionals. This book is a strategy guide for salespeople to help them level the procurement playing field by showing readers how to assess the game procurement plays, describing proven ways to resist discounting and protect margins, demonstrating ways to keep value at the forefront of negotiations, offering targeted tactics to protect hard-earned profits from mindless discounting, and detailing eight strategies effective in any type of pricing negotiation. This book will be an invaluable resource for B2B sales professionals, customer-facing professionals, and executives responsible for leading successful sales organizations.
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Wisdom to Share
Remember that by asking tough questions you are sending signals that you can be a very good supplier.
The biggest mistake salespeople and customer service people make is that they react to customer requests to do something.
The endowment effect means that people place a higher value on objects they perceive they own than objects they do not.
There are many reasons why it is never easy to fire a customer or walk away from a negotiation with an existing customer. One reason is “endowment effect”.
Even if multiple vendors are selected, the preferred vendor is usually the first one at the table. So if you are there and if customers are talking to you, you have power.
Before sitting to the negotiation table, you must determine which game the customer is planning to play. Watch carefully because the game dictates the rules of play.
You as a salesperson should have faith in your product value and manage your desperation and if you must be desperate, please don’t show it!
There’s a name for what happens when sales managers come to help the sales reps. We call it the “White Horse Syndrome” to honor the well-intended objectives of the executives whose big weapon is just a bigger discount.
Customers offer less information, demand more, and they are motivated to cut costs and save as much money as possible.
To sell effectively in this economy, sales professionals must recognize that the steps of the well-crafted sales cycle have changed. The sales cycle is longer and harder to assess.
Books by the same Author
In Pricing with Confidence, pricing gurus Reed Holden and Mark Burton offer a radically different solution—one that actually builds revenues and profits without lowering prices. The key? Linking prices to the value delivered. The real trick is to bring people from marketing, product development, sales, and senior management into the process
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