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CTXC

Strategic Account Executive

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Personal Narrative
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What is your go-to negotiation strategy when discussing price with the F500?

Title just about says it all - I'm looking for your favorite ways to best position yourself in a high-stakes negotiation with an enterprise organization. Share a war story about a challenging negotiator or describe how you overcame a relentless price-sensitive (or so they lead you to believe) prospect.


I'd share a story of my own, but most of my negotiations have been with consumers about premium appliance products (not super applicable to this conversation).

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CoorsKing
WR Officer
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Retired King of the Coors Knights
I always start high. Unless they are in the middle of bankruptcy, budget generally is not an issue once it is assigned. I try to figure out what the procurement agent's motivation is... do they get a bonus if they knock off 10%? Reduce term length? etc, and then I can plan my strategy around that. Want to knock off 10%? Cool, but we have to add branding language. 

Never negotiate heavily outside of procurement, you are just shorting yourself out of commission. 

On my first call with procurement, I always take time to walk them through the solution at a high level as well. They are not part of the evaluation most of the time, so they genuinely may not know what my product does, or the value. Once I walk them through WHY this is important to them, it helps the negotiations a bit. 

For an example, I recently sold to a F10 company. I came in at list, they wanted 98% off or something like that. I took a step back and explained to procurement what the impact of NOT going with us was (they had failed some audits and had a security gap). Ultimately ended up at 15% off list. 
1nbatopshotfan
Politicker
1
Sales
I try to start at 50-75% over list. To give me room to sell a big value, while giving the client room to negotiate. I know what my competitors will be priced at and can adjust as necessary. 

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