In last week’s post, I shared – The Top 10 Steps in a Complex Sales Campaign. The first step is getting your deal approved internally, which I’ll get to in just a second.
Now here’s the problem.
Some reps wait until they get way down the road in their sales campaign before they try to get their deal approved. The idea being it’s better to ask for forgiveness than permission.
Other reps don’t want the visibility or relentless inspection that comes from putting a big deal into their CRM system… so they also wait.
Any of this sounds familiar?
But rather than wait and risk not getting the support you need to win, here’s the FASTEST way to get your deal approved, even if it’s ugly.
Be prepared to answer this one question… One that I asked my sales teams all the time.
What’s your Get-Well Plan for this customer so we don’t have to sell at these high discounts or low gross margins forever?
The answer is always how you structure your deal… which I call the “Art of the Deal.”
It’s ok to get very aggressive to win if you have a plan to improve your position over time.
Customers, and especially procurement departments, remember the discounts you showed them last time, so you need a plan to ensure the deal is structured with discounts you can live with in the future.
If you’re selling hardware, one way to do this is to show a smaller discount but add a big one-time trade-in credit for their old gear.
Or if you’re selling software, again lower discounts but big One-Time software coupons.
By structuring your deal so the initial discount is reasonable but adding in a lot of extra one-time value, you can win by having the overall deal be very aggressively priced without setting a new baseline discount or gross margin you can’t live with in the future.
Now, even if your boss doesn’t ask, the Get-Well question always helps you think through your deal structure, so it’s better for both you and your customer in the long term.
You never know when your boss or the deal desk will circle back and want to poke you about your deal.
So, be prepared and have your Get-Well thought through; it’s the Fastest way to get your deal approved!
See you next week for Question #3 – How can you build a Relationship Map so you never miss important Stakeholders in the powerbase you need to meet and influence?