The role of sales negotiation has never been more important, but many companies fail to train this as an explicit skill, or to link it to their sales methodology. As a result, value is left on the table, either because salespeople and negotiators give too much away or because they are too focused on winning concessions and fail to spot opportunities to create value for both parties.
For many companies, especially those with narrow gross margins, the value lost as a result of poor sales negotiations can easily reach 50% of net profits.
Imparta’s Negotiating Client Value (NCV) programme is designed specifically for the sales environment. It echoes the customer-centric philosophy of our award winning consultative sales skills workshop ‘Creating Client Value’ (CCV), building advanced negotiation strategies and skills in the context of the customer’s Buying Cycle.
Negotiating Client Value will help you address the following common challenges:
- Lack of client insight. NCV teaches a robust process which will challenge and change your view of sales negotiation. For pre-sales negotiation preparation, the process is supported by a number of easy to use planning tools to help identify the client’s perspective. Preparation includes determining alternatives for both parties and also establishing likely ‘walk away’ positions.
- Failing to maximise opportunities. Even experienced negotiators get locked into thinking that what is on the table is all that can be negotiated. The Negotiating Client Value programme encourages wider thinking about negotiation and uses creative approaches to increase the size and value of the deal for both parties.
- Short-term client relationships. Negotiating Client Value helps negotiators to look at the bigger picture and the longer term value of the deal. This approach is helpful in creating deals that add value for both parties.
- Inability to identify when the client is ready to negotiate. Negotiation is sometimes seen as a specific event in a sales process, but sales often take place without negotiation. NCV helps participants understand the overlap between selling and negotiating and avoid being drawn into offering valuable concessions during the sales process. The Buying Cycle framework helps negotiators to align their strategies to where the other party is in their buying process.
- Entrenched client negotiating positions. Many negotiators overestimate their negotiation abilities or underestimate the negotiation capabilities of the other party. We help participants plan effective strategies that can be flexed if the initial strategy is not producing the desired result.
- Not engaging with Procurement. Most negotiations in larger companies now involve Procurement professionals. Salespeople often neglect to include them in their sales discussions and are surprised when they appear close to the deal closure. This workshop helps participants to plan for engagement with Procurement and provides guidance on how and when to engage with them.
- Loss of composure under pressure. Negotiating for major sales contracts can be stressful. Buyers often deploy artificial pressure points such as time deadlines and competitor offers or even aggressive behaviour to make the seller concede in fear and win the deal. This workshop teaches participants how to retain composure, push back against pressure points and tricks, and stick to their planned strategy.