Negotiation Masterclass: Your Sales Commission Savior

Description

Listen

Quoted on this wiki

Every place a page here uses this source, in the order the words come in it.

1. 6:31

   end up in the middle, right? And you agreed on 18% off, yay, high-fiving in the lobby. And what happens? Well, you just gave away 18% of seven and a half million dollars in exchange for what? Nothing. It's charity to their bottom line. Ask them about it. What's “driving the 35%? Tell me about it. Is that a budget issue? Is that a perceived value issue?” Let's just talk about that. So that's just being a human being. What are you looking to communicate with your tonality and body language and your response of being human? Confidence comes from practice and from just knowing that what you're talking about is based on something sound. At that point, I was still nervous. Like I still,

   In Objection diagnosis and probing

2. 16:14

   higher end here. And it's probably based on my understanding of your environment, going to be between X and Y. If that's way off of your expectations, can we talk about that now versus three months from now? The bottom line there is if you're talking about a six or a seven figure solution to a four or a five figure buyer, one of you is in the wrong conversation. “Do you want to know that now or after you just burned your most valuable asset, which” is your time yapping about a deal that they could never buy anyway, or vice versa, right? If you're talking about a four or five figure solution to a six or seven figure buyer, there's an elephant running around the room you don't see, get it out of there before it destroys all the furniture.

   In Price and budget objections

3. 24:47

   Turns out he's on vacation through the end of the month. Can you hold the price until October 1st? Like, I swear, the minute he walks in, I will get to his desk. I will make sure he signs this. Can you just confirm that you can hold the price? What do you do? There's three words I want all of you to just impart and think about. “It's I don't know.” All right. And I'm going to explain what I mean here. So CFO is going on vacation. Step one, be a human being. Like, oh, he's on vacation. Oh, he's on Elon Musk's spaceship to Mars and can't get to DocuSign. All right, that makes, all right, cool, all right. There's nobody else that is available that's, I know, all right, cool, cool. Go through all four levers again.

   In Ambiguous reply handling

4. 34:54

   Step number two is when you get the first reaction to price, you need to lay down the four levers and tell them that you're willing to pay them in form of a discount for these four levers that matter to our business. Number three is you're going to test the walk if they're out of range. “So if they ask for a ridiculous discount, that's when you basically need to say like,” look, these are how far the four levers are. to get us on that basis. Does it even make sense to negotiate from there? Once the negotiation begins, we went through eight potential concessions that someone could ask for. And basically what you're doing is you're just creating a cost to each of those concessions using the levers. So there are a couple of things you could do.

   In Price and budget objections

Quotes are verbatim and belong to their publishers. Where a quote has been translated, the original wording is kept below it.