3 Steps to Tackle Any Nightmare Sales Episode
FHM: From the Horse’s Mouth: Volume Uno
Remember the time when you were compelled to experience the hopefulness of innocence? Do you miss the feeling of pure exhilaration and bliss as you got up each day? Do you recall the moment of unhindered happiness that made you smile so much? Those were the days… the sales days!
Open the Door, in the Name of Sales: Sales Stories
Confused? Well sales can be really fun for those who have the ability to see the funny side of it. Recently LogiNext opened up its platforms, inviting the most experienced sales masters of the industry to share their notable, and sometimes hilarious experiences. If you have a flair for business development coupled with the case of marketing-o-philia where you want to brand your company in the best possible way… learn from the following experiences. You would be a much better sales person as you reach the end of this article. Every paragraph you skip, might mean missing out on some breakthrough lesson. So, let’s begin!
All the stories mentioned here are based on true events. Any resemblance to any person or company is intentional. For the sake of parity and humanity, we won’t disclose the names of the people involved or companies covered. However, if anyone wants to guess their identities, and wants confirmation, they should know that we would hold our stance with a ‘No Comments’ response.
Loading Sales Scenario: The Re-Negotiator and Mr. X
Being a Business Development Manager (BDM) at a fast growing B2B SaaS enterprise brings a person repute and respect. It also brings tiring meetings and frustrating closings. There are good stories and there are bad stories, and then there are sales stories.
In a particularly harrowing story, a star BDM from a leading 3PL company had cracked a large retail client who were just developing their e-commerce presence. The BDM’s company had previously collaborated with different e-commerce giants and they knew it. The BDM, let’s call him Mr. X, had already conducted an extensive meeting and had been through multiple negotiation sessions. Everything was smooth, until they caught the attention of the ‘Re-Negotiator’.
Mr. X shared his feelings with LogiNext, “When he walked in, I knew, my next 3 hours are shot out of the park”.
But Mr. X went on to trap him with expert moves in less than 3 steps.
The Re-Negotiator, let’s call him ReN, opened all the closed points with claims that they were overcharging them on almost everything.
Mr. X spoke with a forlorn look, “I was previously speaking with some key decision makers, who were all present in the room, but none of them interrupted him. I figured he must be their ‘Hail Mary’ shot at pressurizing us. I had a clear agenda then. I just had to outlast the Re-Negotiator”.
Step 1: The Completion Complex
ReN reportedly said, “Your competitor offers the same thing in half your price. There is no way we can function on the price you are quoting”.
Mr. X knew the drill when he saw it, “I would love to match my competitors price if you can show me their written proposal”. Our guest BDM shares his thoughts with us. “I dodged and threw back the fact that, ‘We offered much more value for the price’; then he pulled out the ‘victim’ card”.
Step 2: The Victim Defense
ReN is then believed to have laid out the patent go-to defense, “We don’t have the necessary funds to sanction such a huge deal. We aren’t liquid enough to take this through. If you did lower your price, I would be open to consider your company”.
Mr. X told us that he had had a gleeful smile in his mind but didn’t show it. He said, “I am sure a person so well informed and connected as you can figure that your potential profits would far outweigh the costs. Do you not want to grow from where you are right now? You would need to really pull out stops if you want to succeed”. Mr. X had gone for the offense.
Step 3: The Friend Forever
ReN was blocked off in a corner, “Of course we want to grow, who doesn’t. But we want to do it on our friendlier terms. We believe in growing together. If you consider us your priced client, I am sure you can wiggle out some discounts”.
Mr. X had him, “All of our clients are our priced clients. We respect the integrity and trust of each one of them. We have done everything to make sure this deal works in your best interests. Even I believe in growing together. But if you believe you can grow more with someone else than perhaps I should take my business elsewhere”
ReN’s plea of a friend bonus had been red-flagged. Mr. X explained, “I could have extended some premium features into their account, but I didn’t want my company’s image to be one where we are blackmailed into a deal”
And Now for Mr. X’s quotable quote,
“Taking the high-road might mean that you lose some, but more often than not, you will win”
Moral of The Story
For those who read through Mr. X and his wonderful experience, the learning is simple…
You should always understand the psyche of your clients. You must identify which things to indulge in and where to direct your energy. Some clients might push with some tactics to make you accept a bunch of unreasonable conditions. This is when you should be calm, out smart and out last their strategies.
For those who jumped to the moral after reading the title, wait… we have another FHM sales story coming soon, with another stellar moral for you to skip too.103 1