We should prepare ourselves for the big success of negotiation. Everybody should win means no party left behind or harmed. In fact, sometimes negotiation ends with a win-lose situation, this will certainly affect long-term cooperation because there is one side who feel disadvantaged because of the deal.
Understanding the Needs of Prospective Clients
What exactly do prospective clients want? Don't focus on what you need to offer, but see what prospective clients face. From there, you will get an idea of what solutions they really need. By understanding their needs, you can offer solutions (in presentation sessions) more precisely - based on demand. Thus, they will think your solution is worth to implement and you are the right person to deal with because you know them so well.
Why are they offering certain numbers?
When prospective clients make offers that are considered too low / detrimental to you, take time quickly to think about what the reason behind. If possible, you are ask permission first to have internal discussion before get back with final decision about the offering numbers or not. For example, if you offer a technology solution with price A and prospective clients bid at price B that is far away from your negotiable range, explore further why they are bidding at such price. Is it because the client haven't experience such service hence they just throw a random number? If so, then you can bring market price/competitor mapping to show that your price is very competitive and rational.
Emphasize the Benefits They Want, Not just Unnecessary Features
Regardless of whether it's boring or not, you have to re-emphasize the benefits that prospective clients want (you can get their demand projection from the question session throughout presentation). Don't focus on complementary features that are "nice to have" but don't really matter. Why? Most of prospective clients will measure how effective and efficient your offer is. Avoid too much unnecessary features that didn't expected by client, because sometimes they might think all of these features is the core reason why the price is so high and they won't see your offer worth to be spend anymore.
Provide Advanced Offers with the Benefits They Want
Finally, when you want to submit a revised offer, make sure to first mention the benefits they want by following your latest offer. Example: "Okay, we understand that you need to work on an accounting application that is accelerated for months with the main features a, b, and c. If compared to the price of the competitor, they gonna charge you $ xxx, but lucky you - we will not charge acceleration fees and at the same time not reduce the quality by ideal price in such numbers. " You can also insert what number you can compromise (if you lower the price) or how many benefits you will add as extra privilege (if you offer a fixed or even higher price).
Remember, prospective client will act rationally before deciding on a purchase. Make sure no party feels aggrieved (including you) so that cooperation can settle faster. And for sure, make a good impression by having good presentation designed by DoctorSlide!
If you like our articles, help us to share this knowledge via social networks (Facebook, Twitter, Google+ and LinkedIn) thanks a bunch and have a nice day! :)
Disclaimer: this article originated written in Bahasa and being translated using Google Translate hence please understand if there's any mistake of tenses and/or misunderstanding that occurred. Read the original version by switch this web to Bahasa version on upper right button. Thank you for reading!
Pictures credit to Freepik