Can you Improve Your Negotiating Leverage thro' Sales Funnel?
I was conducting a program on EFFECTIVE VALUE SELLING FOR CAPITAL EQUIPMENTS last week. One of the main problem the sales executives were facing was that the customers were insisting on a target price for the machine rather than through a quotation. The sales executives were falling into the trap and asking their managers to give a revised ( read discounted) price.
This problem apart from the market dynamics is also decided by the BATNA of both the parties. Best Alternative to a Negotiated Agreement was first coined by Roger Fisher and William Ury in their book Getting to Yes: Negotiating an Agreement Without Giving In. The authors from HBS work on the Harvard Negotiating Project.
BATNA is a concept which discusses the options both the parties have in case the negotiation fails. In such a situation the party ( buyer or the seller) who has more options has a better negotiation leverage. For example if the buyer has 3 other vendors to talk to; and the salesman has this buyer as the only option, then the BATNA of the buyer is higher.
Sales Funnel is a very important tool to not only improve your BATNA but also the order forecasting. A program on Value Selling Techniques for Major Sales on Chennai-15, Mumbai-17, Pune-20 February 2018 @ 9 AM for more details please visit www.paradigm-info.com