Part of the Instant Sales Guides series
Understanding the Customer
☐ What is the business issue they want to solve? (What’s their ROI?)
☐ Who is involved, who are the buying influences and how do they view us?
(Executive Sponsor, User, Technical, Coach, Third Parties)
☐ Who are we actually negotiating with, what do we know about them?
☐ What are the key negotiation points for the buyer?
☐ Do we know the competition and their proposed solutions?
☐ Have we a record of discussions and objections raised to date? What does this say about the customer’s “hot buttons” and concerns?
☐ What tactics do you expect the customer to use during the negotiation?
☐ Do we know their BATNA?
☐ Do we have a clear statement of how we solve their business issue?
☐ Does the customer understand and agree with this? (Have we asked them?)
☐ Can we articulate our value and differentiators over the competition?
☐ Do we have the proof (to reduce risk) to show that we can do this?
☐ Have we defined our Optimum and Fallback positions?
☐ Besides price, what can we negotiate on?
(maintenance, training, payment terms, delivery, installation, support, volume discounts, account status, etc.)
☐ Have we had an opportunity to fully present our value proposition?
☐ What do the BATNAs mean to out negotiation strategy?
☐ Do we understand where the power and leverage is for each side?
(Timing, information, power base, location, EQ, history, titles)
☐ Have we developed our questioning strategy?
☐ Have we got a clear opening statement? (How does our solution fully meet their business needs and ROI)
☐ What do we do if we cannot reach an agreement?
☐ Do not assume you have to negotiate
☐ Don’t negotiate until the customer acknowledges that their needs can be met by our solution
☐ Prepare thoroughly, they will!
☐ Demonstrate a Win-Win attitude
☐ Be confident in the value your product or service will return
☐ Listen – Don’t rush to fill pauses – be comfortable with moments of silence
☐ Work on exchanging, not giving
☐ Work on all the possible variables
☐ Be prepared to walk away at this time
Good Negotiating – please comment if you have any feedback – note that you can download a printable pdf version of the guide together with more information regarding negotiation from the instant sales guides tab.