End of Quarter/Year deals

This week is the end of my Q2 and I have a deal in the pipe very near closing. Legal is doing their redlines thing, final approval on price is pending, but things are looking good. Logistics are really the only thing holding us up from signature at this point. I told the prospect that the discounts we've quoted are contingent on a 7/30 signature or earlier - pretty typical sales procedure to help speed things along. When these sort of circumstances come up, do you stick to your guns and raise the price after the "deadline" or let them call your bluff in fear that a price raise will kill the deal? Every deal has it's own unique characteristics, so I'm anticipating a lot of "it depends on..." answers, which is fine. But what's your thought process or criteria for these situations? What are you willing to bend on? How much rope will you give the prospect? If you do raise the price, by how much?


For mine, I think I'll stick to my annual cost quote, but raise the implementation cost by a bit. (I work in SaaS)

๐Ÿ“ˆ Closing
โ˜๏ธ Software Tech
7
SlinginSoftware
Politicker
2
Account Executive
In these scenarios I usually give them 2 quotes...one for now and one for next month. Let them know exactly what it's going to cost them next month and stick to my guns...

If I'm at that point in the sales process, it's usually unlikely that the price being bumped up a bit will make the entire project fall apart.

When we start getting close to the deadline (within a day or 2), I usually send one last email along the lines of - "As it seems that timing is a more important factor than pricing, here is your updated quote. Please let me know what else you need to help get this project wrapped up!"
Beasthouse
Opinionated
0
Corporate trainer
smrt
HarryCaray
Notable Contributor
0
HMFIC
I've done that in the past, usually upon request from the prospect, but that's a good idea.ย  Shows them that you actually have a formal plan in place for what happens if the deal goes past a certain point.
Beasthouse
Opinionated
0
Corporate trainer
double your implementation fee and used it as a negotiating tool in exchange for faster soon better
HarryCaray
Notable Contributor
0
HMFIC
No way I would double it, but yeah they'll definitely get a lower project cost if they sign this week.
MR.StretchISR
Politicker
0
ISR
I absolutely use mine and ALWAYS have some handy - if no one is using them, even better! Makes you stand out as organized and professional. Pro tip - always carry blank ones with you as well, in case a prospect doesnโ€™t have one. That way they can write their info down for you and you just proved how youโ€™re proactive and a problem solver!
11

Offering concessions at quarter close

Discussion
24
16

End of the Month

Discussion
10
What do you do?
42% Push more sales for the month
28% Sandbag that shiz for next month
26% Focus more on prospecting
5% Other(comment)
43 people voted
13

How did your quarter end?

Discussion
19
How did your quarter end?
41% Over-performed
35% Borderline or near the target
25% Missed the quota
153 people voted