Nobody recommends it, but sometimes you find yourself in a tough negotiating situation. The prospect might know you’re close to the end of the month, or the year, and starts insisting on a deal. What should you do?
At cerebralselling.com, David Priemer sympathizes. He also has a few suggestions on how to negotiate when you feel like your back is against the wall.
The last thing you want to do is start making price or service concessions without understanding your prospect’s internal processes. At this point, your prospect has everything to gain. They are not going to have a reduced profit market as a result of the sale. But, you might.
If you’re not careful at this point, things could get worse. You could beg your manager to allow you to sweeten the pot. Depending on where you stand with your manager, this could be the last time you get to do this.
To avoid further complications or a complete disaster, make sure the prospect is serious and can do what they say. For example, is everyone who needs to sign the contract on board with the deal? Will these people be available and ready to sign the paperwork by the proposed deadline?
You’ve been in situations before where you thought you had everything covered. Right? Think about what went wrong in the past and bring up these issues with the prospect.
Once you feel comfortable that the prospect’s purchase path is clear, then it’s time to mention a possible discount, additional free training, or an extended service period.
Of course, you should always avoid getting into a negotiation that involves a tight deadline. When it happens, you'll feel rushed and stressed. That's exactly the time to think through the ways that the deal could collapse and take steps to avoid that outcome. Next time, promise you won’t let the end of the month come around quite so quickly!