Podcast episode
Conquering the chaos at the end of your deals (Todd Caponi, Founder, Speaker, & Workshop Leader @ Sales Melon)
30 Minutes to President's Club16 Aug 202342 min
Description
Join the most tactical sales newsletter in the world: https://hubs.ly/Q01-R33G0 FOUR ACTIONABLE TAKEAWAYS There are four levers in a negotiation: Volume, timing of cash, length of commitment, and timing of the deal. When describing the levers, explain upfront: There’s tremendous value in us being able to predict and we’re willing to pay for that in the form of a discount. Hold firm by telling everyone in the world what the 4 levers are EARLY in your sales cycle. When power comes in for a final pound of flesh, paint the trade-offs and lean on the fact that you’ve shared this early so that your champion can evangelize it. PATH TO PRESIDENT’S CLUB Founder, Speaker, & Workshop Leader @ Sales Melon Author (The Transparency Sale & The Transparent Sales Leader) Managing Director @ VentureScale Chief Revenue Officer @ PowerReviews RESOURCES DISCUSSED Join our weekly newsletter Things you can steal 30MPC Training: 30mpc.com/training
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spending six figures, five, or whatever it is, and they find out right at the goal line, through you saying, Hey, we'll pay you in the form of a discount for a case study. You are essentially telling them that all those case studies they read that influenced their decision to go with you were probably paid for too. You got to be careful, right? “Earn your case studies, right?” There's no teeth in contracts around case studies as a concession anyway. Earn your case studies, stop paying for them. That's tip number three. All right, Todd. So for those folks who have not heard your original episode, one, go back and watch it, two, right now, you mentioned the four levers in a negotiation.
If you smell all of these foggy answers, that might mean that it is truly variable and you give them some buffer, but that might also mean that you have the wrong buyer in the room. If you smell all of these muddy non-committal answers, by mapping out the steps that Todd has already described, it is allowing you to suss out if this is the type of person “who can even give you a commitment in the first place.” Well, Armand, can I jump in on that? Because keep in mind though, we as salespeople, we are selling all day, right? These buyers, they may be buying something from us like our solution once a year, once ever. So I think more often than not, you're going to hear the cloudiness.
The last question is about a shouldn't. The last question is, what is one bad habit that you see a lot of salespeople exhibiting that you think they need to break because it hurts them more than it helps? It's this idea that logic is polarizing, and so what I mean by that is we so often “combat a customer that's got an objection or got an issue with logic, right?” So often, we even start our presentations with logic, with all the awards we've won, and we have our NASCAR slide that's got all the companies that we're so proud of. Back in 1620, there was a philosopher named Sir Francis Bacon that first theorized the
success reps to ask one question that will feed you so many great stories. One question is, hey, I think I know why you renewed. We're awesome, right? I'm biased, but with all that's going on in the economy and all that, why did you renew with us? Then just shut up and listen. “The stories you're going to hear are going to feed your sales team to be able to counter” and impact everything that they do. I just had a client of mine start doing that, and the last call, they're like, dude, we just got three things we didn't even know our technology did. We're asking that question, logic polarizes, stories and emotion bring us together. Amazing. Todd, thank you so much for joining us.