In this curated episode of the Revenue Builders Podcast, we delve into the intricate world of sales negotiation with expert Tim Caito from Force Management. We explore the crucial aspects of negotiation, from preparing champions to dealing with procurement and the power of starting early in the sales process. Tim shares valuable insights and strategies to help organizations preserve value in the final deal and achieve successful negotiations.
KEY TAKEAWAYS
[00:01:07] Starting early in the sales process is crucial for successful negotiation.
[00:02:09] Begin the negotiation process before the other side believes you're negotiating.
[00:02:58] Having a better alternative gives leverage in negotiations.
[00:04:00] Making negotiations about the client's alternative rather than yours is a powerful tactic.
[00:05:51] Procurement's role and the importance of preparing champions for the negotiation process.
[00:08:23] The significance of creating a powerful cost justification to resist procurement pressure.
[00:10:46] The role of champions as the great equalizer in the negotiation process.
[00:12:17] Anticipating competitive tactics and preparing champions to handle external pressure.
HIGHLIGHT QUOTES
[00:01:26] "Start the negotiation process before the other side believes we're negotiating."
[00:03:18] "If the rep doesn't have a solid alternative, it gives the power back to procurement."
[00:08:48] "You have to have done such a good cost justification that they feel like they're losing every day that goes by."
[00:10:27] "Champions are the great equalizer in a negotiation process."
[00:13:52] "We have to prep them because it is going to happen, and we have to role play and ask specifically, what are you going to say when they ask this question."
Listen to the full episode with Tim Caito through this link:
https://revenue-builders.simplecast.com/episodes/the-secrets-of-sales-negotiation-with-tim-caito
Check out John McMahon’s book here:
Amazon Link: https://a.co/d/1K7DDC4
Check out Force Management’s Ascender platform here:
https://my.ascender.co/Ascender/
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