If you are in B2B sales, it’s almost inevitable that you will be having negotiations with your prospects’ Procurement departments. That can be quite an unsettling experience. Most procurement professionals have been formally trained in the art of negotiating. Contrast that with the estimated 5% of sales professionals that have had any negotiating training whatsoever. But there are actions B2B sales people can take right now to get ahead of the game when negotiating with Procurement. I share these actions in my 10 insider negotiation tips. They are based on more than 18 years of Procurement and Sales experience.
You can download the tips here. They cover the following aspects of negotiating with Procurement:
- Preparation
- Opening the negotiation
- Coming to Agreement
Preparation – allies and insights
We all know that preparing well for a negotiation significantly impacts the outcome. But what does “preparing well” mean when it’s Procurement you are up against? In my experience there are two things, in particular, that matter.
The first one is building relationships with the Economic Buyer and other key stakeholders in the target organisation. If at least some key members of the Decision Making Unit know who you are and have a preference for the solution you offer, you will be in a much stronger position when meeting Procurement at the negotiation table.
The second thing to consider is how much you really know about Procurement in general, and about the person you will be negotiating with specifically. The better informed you are about how Procurement thinks, plans and acts, the better able you are to prepare in a meaningful way.
In my 10 insider negotiation tips I talk more about these topics.
Opening the negotiation – be relevant
When you meet with Procurement it’s important to be able to offer them a version of your value proposition that resonates. Their priorities and goals are often different from those of other Decision Making Unit members. Procurement has Procurement targets and goals to meet – other stakeholders don’t, though in some instances there are overlaps. In my 10 insider negotiation tips, I talk about what most Procurement departments focus on.
Coming to agreement – push back vs. collaboration
When it comes to discussing the details of the deal and eventually reaching agreement you need to on the one hand understand (and counter) common Procurement tactics, and on the other hand cultivate a collaborative mindset. Half of my 10 insider negotiation tips are dedicated to this very important aspect of negotiating with Procurement
So, that gives you a flavour of what my 10 insider negotiation tips are about. If you are keen to get ahead of the game when negotiating with Procurement, click to download them now.
You may also want to subscribe to my LinkedIn newsletter called, “Selling to Procurement”. I share new tips and insights every week and you will NOT be asked to enter an email address to subscribe. Just click here, and once you are on the LinkedIn platform, hit the subscribe button.
