NEGOTIATION - pages.gong.iopages.gong.io/wp-content/uploads/Negotiation-Masterclass.pdf · Why...

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NEGOTIATION Devin Reed

Transcript of NEGOTIATION - pages.gong.iopages.gong.io/wp-content/uploads/Negotiation-Masterclass.pdf · Why...

Page 1: NEGOTIATION - pages.gong.iopages.gong.io/wp-content/uploads/Negotiation-Masterclass.pdf · Why sharp negotiation skills are a must 2. Top 5 negotiation mistakes (and what to do instead)

NEGOTIATIONDevin Reed

Page 2: NEGOTIATION - pages.gong.iopages.gong.io/wp-content/uploads/Negotiation-Masterclass.pdf · Why sharp negotiation skills are a must 2. Top 5 negotiation mistakes (and what to do instead)

Head of Content Strategy at Gong.io6 years SaaS

Sales experience

2nd sales hire at Gong.io

DEVINREED

Page 3: NEGOTIATION - pages.gong.iopages.gong.io/wp-content/uploads/Negotiation-Masterclass.pdf · Why sharp negotiation skills are a must 2. Top 5 negotiation mistakes (and what to do instead)

1. Why sharp negotiation skills are a must

2. Top 5 negotiation mistakes (and what to do instead)

3. How to give without discounting

Agenda

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1. You’ll maintain control over your pipeline

2. You’ll win more deals

3. Your deal size will increase

You will experience 3 major benefits after becoming a master negotiator:

Why Sharp Negotiation Skills are Critical

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Scott Leese

strength

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TOP 5 NEGOTIATION

MISTAKES Unprepared Not enough

informationUsing

“list price”Rushing the

process Being

too nice

#1 #2 #3 #4 #5

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1. Find the right person

2. Gather as much information as possible

3. Confirm your floor and commit to it

Unprepared for negotiations

Mistake #1:

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You stop doing discovery

Mistake #2:

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JUSTIN WELSH

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Ask Questions that motivate long responses

Succ

ess

Rate

s

Customer Story Length

0 50 100 150 200 250

.2

.4

.6

.8

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Labeling

BUYER

SELLER

I see value in your product, but I have too many competing priorities to take this on right now.

It seems like you’re hesitant to disrupt your current tech stack.

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Mirroring

BUYER

SELLER

There’s no way we could make a vendor switch until next year.

Next year?

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Using “List Price”Mistake #3:

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“List Price” Complicates The Buying Process

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Here’s what to say instead

BUYER

SELLER

What’s your pricing, and how do you charge?

We charge per license on an annual basis. How many users do you have?

BUYER

SELLER

50

Okay. Our approved pricing for 50 users is $2,100 per license, per year.

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Rushing the Process

Mistake #4:

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One participant

Multiple participants +258%

Here’s how to slow things down

Answer all questions patiently

Have an open mind on the final outcome

Don’t force a negotiation in one call!

Include others from your team

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Being Too NiceMistake #5:

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How to give without discounting

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Professional services

Payment options

Terms

Co-marketing

Swag

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Recap

1.

2.

3.

4.

5.

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