Negotiating to low in the organization
We all like to stick to what we know and what works for us. In negotiation, this is true as well. Many representatives on the seller's side feel uncomfortable engaging decision-makers on the buyer's side. This discomfort can stem from a lack of experience or the fear of talking to someone higher up the ladder. But here's the thing: relying on someone else to engage and convince the decision-maker is a risky move you should avoid.
The Consequences of Avoiding Direct Engagement
The impact of avoiding direct engagement with decision-makers can be significant. You risk losing the deal, missing revenue, or experiencing severe delays. It's not just about the immediate loss but also the long-term damage to your reputation and future opportunities.
Six Steps to Successful Negotiations
Next time you negotiate, follow these six steps to ensure success:
1. Identify the Decision-Maker Early On
Before you even start the negotiation, know who holds the cards. It's crucial to identify the decision-maker as early as possible.
2. Know Your Routes to the Decision-Maker
Once you know the decision-maker, figure out how to get in touch. Does someone in your company already have a relationship with them? Use that connection.
3. Build Rapport with the Decision-Maker
Don't just reach out when you need something. Build a relationship over time so that you're not coming in cold when you need to negotiate.
4. Plan Your Engagement Strategy
Incorporate when and how you'll engage with the decision-maker into your negotiation plan. Timing can be everything.
5. Tailor Your Concession Strategy
Your concession strategy should include specific steps tailored to the decision-maker. This isn't a one-size-fits-all situation.
6. Take Ownership of the Process
Don't rely on others to do your job. If you're in the negotiation, be in it fully. Own the process from start to finish.
Why You Should Talk to Us
Our independent consulting business doesn't sell licenses or Cloud services. We do this intentionally to keep our advice unbiased.
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