BMS Progress’ Post

Did you know that on average, 5% of the deal value is given away in a typical negotiation? And what's even more scary is that this could equal up to 50% of your profit! 📉 If you could prevent this, you would right? Have you heard of Trading Variables? This is where you offer something else in the negotiation process other than price. So how does it work? 🤔 ✔️ You need to know what you have to trade and prioritise in order of cost and perceived value ✔️ Be mean! Don't give a concession unless you absolutely need to ✔️ Think about the cost of the concession to your business and what you expect back in return ✔️ Remember, these are not giveaways. If you give, expect and demand something back, even if that is a commitment ✔️ Think about your timing ✔️ And expect that you will have to use them at some stage, even if you don't actually need to So what are some examples of trading variables? Warranty Delivery terms Credit terms Bulk savings Incentives Rebates Give this a try next time you're negotiating 🗣️ Keen to find out more about the modules and models our Level 4 Sales Apprenticeship teaches? Get in touch today 👉 https://lnkd.in/euR8gqmj #Sales #Negotiating #SalesTips #SalesStrategy #Education #Apprenticeships

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