Research:
In partnership with Miller Heiman, Accordence conducted a survey entitled Negotiate Now: A Strategic Perspective on the Role Negotiations Play in Achieving Sales Excellence and asked over 600 sales people to explore how negotiations differentiate success. The conclusion from analyzing the survey responses was that negotiation can be a competitive advantage if you don’t discount or discount less, if your difficult negotiations create better outcomes, and if negotiation helps you beat the competition.
Why Negotiations are critical in today's selling environment:
Symptom:
66% of respondents believe buyers are requiring discounts before they purchase.
Cause:
67% of sales leaders agree buyers are finding it increasingly difficult to differentiate the value of the products and services they purchase.
64% of respondents believe buyers are treating their specific industry as a commoditized market.
The survey asked three questions:
When you must reduce prices to close a deal, what is the typical discount?
How do difficult negotiations typically impact your relationship with the customer?
What is the biggest reason why you feel you have lost deals?
The results:
Sales people are experiencing unprecedented pressure to discount in today's economic climate. When you must reduce prices to close a deal, what is the typical discount?
How do difficult negotiations typically impact your relationship with the customer?
What is the biggest reason why you feel you've lost deals?
