These are the reasons why your sales team rolls over too quickly in negotiations ↓ 1️⃣ They want to always please the counterparty. To be fair, we all want to be liked, but that can lead to bad deals. 2️⃣ Your compensation structure is tied to revenue, not profit and this incentivizes closing deals at any cost. 3️⃣ They're scared of losing the deal. When buyers go silent, they panic and make concessions to get a response. 4️⃣ They don't know their strengths, their competitors, or the customers well enough to negotiate effectively. ➡️ The result? Missed opportunities and $$$ lost. Here's what you can do about it; ✓ 𝗗𝗼 𝘆𝗼𝘂𝗿 𝗵𝗼𝗺𝗲𝘄𝗼𝗿𝗸, 𝗮𝗻𝗱 𝗱𝗼 𝗶𝘁 𝘄𝗲𝗹𝗹. Your homework helps you identify your strengths for an effective negotiation process. Be thorough in your research and use a power map and term sheets to build strategies to deal with key decision-makers in the account. Also, use strategies like BATNA and ZOPA to identify and align on points of mutual value and potential alternatives to a deal. ✓ 𝗕𝘂𝗶𝗹𝗱 𝗮 𝗰𝘂𝗹𝘁𝘂𝗿𝗲 𝗼𝗳 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗰 𝘀𝗲𝗹𝗹𝗶𝗻𝗴. Shift the mindset from closing just any deal to closing the right deals. Encourage your team to approach the negotiation strategically, build relationships, and focus on solutions that benefit both the customer and your company in the long term. ✓ 𝗙𝗼𝗰𝘂𝘀 𝗼𝗻 𝗽𝗿𝗼𝗳𝗶𝘁, 𝗻𝗼𝘁 𝗷𝘂𝘀𝘁 𝗿𝗲𝘃𝗲𝗻𝘂𝗲. Reward salespeople for bringing in profitable deals. This encourages them to negotiate smarter and prioritize deals with healthier margins. I had an amazing conversation with Darren Mitchell on the Exceptional Sales Leader Podcast. Listen to the full episode here: https://lnkd.in/e2cxfVWi #negotiations #podcast #sales
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𝗪𝗵𝗮𝘁 𝗪𝗶𝗹𝗹 𝗖𝗼𝗻𝘃𝗶𝗻𝗰𝗲 𝗬𝗼𝘂𝗿 𝗖𝘂𝘀𝘁𝗼𝗺𝗲𝗿𝘀 𝗧𝗼 𝗪𝗼𝗿𝗸 𝗪𝗶𝘁𝗵 𝗬𝗼𝘂, 𝗧𝗮𝗹𝗸𝗶𝗻𝗴 𝗔𝗯𝗼𝘂𝘁 𝗧𝗵𝗲𝗶𝗿 𝗣𝗿𝗼𝗯𝗹𝗲𝗺𝘀 𝗢𝗿 𝗔𝗯𝗼𝘂𝘁 𝗬𝗼𝘂𝗿 𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻? Well, it’s all about the problem. Think about it—if someone trusts you enough, you could say, “I’ve got the solution to your problem, let’s sign you up,” and you wouldn’t even need to tell them what the solution is. To build trust, talk about your customers’ problems. In this interview I go deep on Trust-Based Selling, sharing insights on: 🔸How to create DEEP TRUST in a single sales conversation 🔸How to stop "chasing" ghosts (prospects who don't call you back) 🔸Key trust-based languaging that is authentic and creates instant trust Listen to the audio below, where I join Josh Steimle on "The Consulting Published Author Podcast" and let me know one key idea that you learned, that you can use right away in your sales process? https://lnkd.in/gXiYWvXG
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Too often, selling is associated with the need to "convince" and "persuade" customers - an approach that often leads to resistance and burnout. In this week's podcast, I'll explain how selling should be viewed as a process of sorting and providing value. The role of the salesperson is not to force a sale but to identify prospects who have a true problem they want to solve. This episode challenges the traditional baggage around sales and offers a fresh, "humane" perspective. If you're looking to revitalize your approach, I encourage you to check it out. #baggage #sales #selling #misconceptions #billcaskeypodcast https://lnkd.in/gMjgweEP
Escaping the Baggage of Selling
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Thank you Wesleyne Whittaker for an inspiring conversation on The Transformed Sales podcast. I appreciate your focus on the importance of language. So often sales folks are too inwardly focused, following our internal process, using our internal language and jargon. This is a quick way to isolate our prospects and keep the silo's up. When they feel you understand them, they start opening up and sharing. This is the art of #sales.
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You can’t be good at Sales until you build trust and understand your client's needs. Sales is more than a smooth pitch; it's about establishing credibility and solving problems effectively. Recently, I came across the best 4 steps to excel in sales on a podcast. Here they are: - Become a Trusted Advisor: Focus on building trust, listening actively, and championing your client's needs. - Deep Dive into Client Problems: Ask insightful questions, listen attentively, and understand their real challenges. - Craft a Solution, Not a Pitch: Showcase your value by aligning with their needs, solving problems, and delivering solutions. - Price with Value, Negotiate with Confidence: Justify your price by emphasizing the value you provide. Be prepared to negotiate from a position of strength. Remember, sales is a collaborative process. By mastering these steps, you can build trust and close deals with a smile!
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