The 10 Rules of Negotiating
As this month’s topic is how marketing can help Sales to deliver more deals, I thought I would use a video I’ve seen recently. It looks at negotiating and some key rules around negotiating when dealing with a prospect.
Alan McCarthy’s 10 Rules of Negotiation look at what you should and shouldn’t do.
The 10 Rules of Negotiation
- Don’t negotiate.
- Never negotiate with yourself.
- Never except the first offer.
- Never make the first offer if you can avoid it.
- Listen more and talk less.
- Never give anyone a free gift.
- Watch the salami.
- Avoid the rookie’s regret.
- Avoid the quick deal.
- Never tell anyone what your bottom line is.
When I first listened to this, I wasn’t sure that I agreed with some of them and the rule about salami really confused me when I heard the rule. Once explained, however, it was much clearer.
Watch the Salami
Salami is made from a mix of ingredients in much the same way as the products and services you provide. Back in my old life, when I worked for an IT support company, we often broke down the pricing of a project to minute detail – and we often lost out because of it. People would take the quotes and simply go to someone with a lower day rate. They would use our knowledge and expertise to develop a great server network – and then save money on the overall project. It took us a while to stop, but we did in the end – and then we won more projects. This is still something I need to watch out for and make sure I don’t break marketing projects down into too much costed detail.
Never Give anyone a Free Gift
The old saying says “there’s no such thing as a free lunch” and this is what Alan is saying here. Whatever you give away, make sure you get something in return. If you want to look at other blogs around Marketing and Sales working together, here’s a couple:
If you are struggling to get Marketing & Sales working together, these articles should help. If you’d like some further help, give us a call and let’s see how we can help you: 020 8634 5911.
It’s not often I share other people’s content, but this video seemed to fit perfectly within this set of blogs. I hope this helps.