scott@top1.fm<\/strong><\/p>\nTranscript<\/h3>\n
Scott Ingram: You\u2019re listening to the Daily Sales Tips podcast and I\u2019m your host, Scott Ingram. Today Mark Schenkius is back. Mark is the founder of ROI 10 where he helps sales professionals get better at dealing with buyers, and he\u2019s also the author of \u201cThe Other Side of Sales,\u201d where he shares his perspective after 15 years in procurement. Here he is with today\u2019s tip:<\/p>\n
Mark Schenkius: Imagine you are in a negotiation with a buyer and the buyer asks you a 2% discount for a product or service that they have been buying from you for many years. This type of situation is not uncommon knowing that buyers are required to deliver savings year on year.<\/p>\n
What would you do? Give them the 2% or negotiate a deal?<\/p>\n
Even if you have enough margin to give them the 2% discount, there\u2019s an important reason why you should never ever give something without asking something in return.<\/p>\n
What do you think happens inside the buyer\u2019s head when they ask for a 2% discount and you just give it to them?<\/p>\n
From personal experience, I know what a buyer would think, which is: \u201cThat went too easy. I should have asked for more!\u201d and here\u2019s the interesting perspective. Even though you think you have been kind to your customer by giving them the 2% discount, they are actually unhappy with the deal believing they could have gotten more.<\/p>\n
So, to avoid these kinds of situations, here\u2019s the golden rule to what I call \u201cconcession trading\u201d:<\/p>\n
\u201cGive the other party what they want, \u2026. but under your conditions\u201d<\/p>\n
And it doesn\u2019t matter how extreme their request is. Just make sure you always ask for something in return of equal or higher value to you.<\/p>\n
So, if a buyer asks for 2% discount, your reply could be:<\/p>\n
If you can increase the annual order volume by 50%, then I can give you a 2% discount on current prices or
\nIf you can agree to a 3-year contract, then I can give you a 2% discount on current prices<\/p>\n
The principle here is that you give the other party what they want, in this example the 2% discount, however, you are assertive enough to ask for something that\u2019s important to you.
\nThis way you avoid a situation where a buyer keeps asking for more, because they will know you\u2019ll ask something in return.<\/p>\n
So, when you\u2019re in a similar situation next time, try using the following words:<\/p>\n
If you \u2026, then I \u2026.<\/p>\n
If you give me \u201cx\u201d, then I can give you \u201cy\u201d<\/p>\n
This way you ensure your proposals are always conditional.<\/p>\n
Happy negotiations everyone!<\/p>\n
Scott Ingram: For more about Mark and his book \u201cThe Other Side of Sales<\/a>,\u201d click over to DailySales.Tips\/533<\/a> and we\u2019ll have everything for you there including a transcript of his tip.<\/p>\nOnce you\u2019ve done that. Be sure to come back tomorrow for another great sales tip. Thanks for listening!<\/p>\n","protected":false},"excerpt":{"rendered":"
“Give the other party what they want, \u2026. but under your conditions\u201d – Mark Schenkius in today’s Tip 533 What would you do? Give them the 2% or negotiate a deal? Join the conversation below and share your thoughts! ROI 10 The Other Side of Sales Mark Schenkius on LinkedIn Submit a Sales Tip Have…<\/p>\n","protected":false},"author":2,"featured_media":2399,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"content-sidebar","footnotes":"","tve_updated_post":"","tve_custom_css":"","tve_user_custom_css":"","tve_globals":{},"tcb2_ready":0,"tcb_editor_enabled":0,"tve_landing_page":"","_tve_header":"","_tve_footer":""},"categories":[40],"tags":[],"class_list":["post-3035","post","type-post","status-publish","format-standard","has-post-thumbnail","category-daily-sales-tips","entry"],"yoast_head":"\n
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“Give the other party what they want, \u2026. but under your conditions\u201d – Mark Schenkius in today’s Tip 533<\/p>\n