Sales – a game for grown-ups!
We had someone opt-out of a contract today because they wanted to renegotiate the terms of the deal. Now, this can be a frightening event unless you are in a better position…remember there are two sides of every negotiation and both sides have consequences.
So, how do you play your hand? You have to know your client and how badly they need your service and then you can calculate your next move. If you have leverage, use it….play strong, call their bluff,…. Great negotiators know when they have a strong position and that’s when they maximize the outcome.
Pay attention and you will know how to play the game. Otherwise, you are playing russian roulette.
One more day this month to play the game.
Brick
hey brick – great post – can you speak specifically as to the types of datapoints or cues you use to determine that you have the upper hand in the re-negotiation? I’ve found (and this is likely due to inexperience and poor execution) that when I call their bluff it backfires on me
Sure…it’s not an exact science and I think of it like poker. I can make some judgement based on the cards on the table and I can make others based on the behavior of the players around the table. Negotiations are the same. If I have a client that I know depends heavily on my service then I have some valuable intell and I can play my hand stronger. So, how do I know they depend on me because usually they won’t tell you this…you will listen to your client throughout the relationship, you can watch body language, there are lots of cues that will tell you where they stand. Buyers are more and more coached to be professional negotiators these days so tuning in to the cues is critical or you will lose the game. Hope that helps..the best way to learn is to take some chances and see what happens. That’s how I learned.