Last week I closed a $60,000 deal after negotiating with a CFO. I almost walked away. But they signed at the last minute. Here's how it went:
Them [2 days before signing]: "Send over the contract, we should be good to go."
Me: "Sending. Any other obstacles before signing?"
Them: "Nope. We should be good."
Sent the contract.
Didn't hear anything for two days.
Shot them an email:
Me: "Hey [name], looks like you've taken a peek at the Docusign but haven't signed. Anything standing in the way?
Them: "Yes. Can you talk tomorrow?"
BACKGROUND:
I had already given the best deal I was willing to give to be fair to the rest of my customers who have paid the same price.
And I triple-confirmed we were good to sign two days prior.
So that response was a big deal.
We had already spent WEEKS negotiating.
Plus, the next day was end of month.
I wanted this in May.
I spent the evening cursing under my breath.
Then got on a call the next morning:
Him: "As you know when we started, our original budget was $45k."
Me: "Yes, but I thought we were past that and that you found $60k."
Him: "I want to see if we can get closer to $45k."
Me: "Can I be disarmingly honest with you?"
Him: "Yes."
Me: "The best I can do is throw in an old pair of my shoes, if you're still looking for another concession."
Him: "So this $60k is the best you can do?"
Me: "It is 100% absolutely is. It's also contingent on a May signature."
Him: "You've been in sales your entire career - how do I know you're not just making a pitch?"
Me: "Can you feel the conviction in my voice?"
Him: "Yes."
Me: "Promise you. This is it. The contract will look different if we wait."
Him: "Ok, filling out the address fields now."
5 minutes later he signed.
Oy.
A few takeaways:
1. Are they problem solving? Or haggling?
Sometimes, buyers negotiate because they have a problem.
They don't have enough budget.
There's a true constraint.
But other times?
They just want know they're getting the best deal.
So they'll push.
Even if they'd be willing to sign as-is.
It's your job to identify which situation you're dealing with.
And then to give them the peace of mind that you have given them a fair deal.
2. No bluffing.
You cannot fake a willingness to walk away.
People can smell a lack of conviction a mile away.
Set your limit and stick to it.
3. Ask permission to make hard statements.
The best way to make a tough statement?
Ask permission to give it:
"Can I be disarmingly honest with you?"
I've never had things "go south" when I pre-empt with that question.
That's all for today.
I don't know about you:
But these moments are what make sales fun.
Tag your colleagues if you think this can help them.
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