Podcast episode
The Perfect Deal Negotiation Process (Armand Farrokh, 30MPC)
30 Minutes to President's Club16 Jul 202441 min
Description
TOP ACTIONABLE SALES TAKEAWAYS: Act surprised and maintain confidence when faced with resistance on price; don't normalize discounts or concessions easily. Make each concession painful for the customer; show that every request comes with effort and negotiation, preventing them from expecting easy wins. Act as if achieving approvals for concessions is difficult and uncertain, emphasizing the rarity and challenge of gaining internal approvals. Finish negotiations in two parts if necessary, using options to force a final trade-off that emphasizes the value of each choice, encouraging a more strategic decision-making process. ARMAND'S PATH TO PRESIDENTS CLUB: Founder @ 30MPC VP of Sales @ Pave Director of Sales @ Carta RESOURCES DISCUSSED Join our weekly newsletter Things you can steal 30MPC Training: 30mpc.com/training
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go with you unless you are literally not worth a penny more of value. And so I'm not saying you should just tell them to go to the competitor, but the reason you push them into the $1 solution is what you're waiting for them to say is, look, I do want to go with you. “I'm just not willing to pay double the price. And that naturally begs the question, okay,” then it's just a matter of us figuring out what is the additional value that we're bringing above the competition. By pushing them into the rock bottom competitors that you know they don't want, they're going to push back into you. And now we say, okay, so then it's just a matter of figuring
And the reality is we can't give you everything because this would just be massively inequitable to multiple others. And if word got out, we would be seeding bad seeds in the market. And so I have two options for you based on what's most important to you. And oftentimes what I'll do, for example, is I'll present a one-year deal at a higher price and a two-year deal at a lower price. “Essentially what I'm doing is I'm just forcing them to make a trade-off based on what's most” important to them. They're going to be like, all right, you gave me my 20% discount. No, I want it to be 25. But when I give you two different options, now I've created a cost to you getting a bigger discount and it's your choice. If you would like to pick the two-year deal as your cost to get that discount, that would usually get the deal done in one cut.