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To successfully negotiate a contract in today’s sales climate, you need to prioritize relationship building over persuasion, practice active listening, and empathize with your customers’ challenges. What you’ll learn: What is contract negotiation? Why is contract negotiation important?
A good champion can help facilitate faster deals, bigger contract sizes, and easier account management. A good Customer Relationship Management (CRM) tool is crucial here. And even if your champion is not a manager, they could have influence, and be a valuable resource in helping you win the sale.
If that doesn’t work, I’ll add another discount of 2% for a multi-year contract to make the deal more enticing. Want to take the #1 CRM for a test drive? If you find yourself in a stalemate, try offering a discount. For example, in negotiations, I might offer a 2% discount for marketing services. Take the free tour
Now any costs incurred to obtain and fulfill contracts need to be amortized over the estimated customer lifetime. Beyond the historical data, you’ll need to track every commissionable component, determine which commissions are incremental costs (if any), and allocate costs to multiple performance obligations within every contract.
Take a look at CRM data to see the problems and pain points your customers share. CRM software with AI-powered insights can help here; it can surface insights based on past customers and public data to deliver recommendations for high-value accounts worth going after. You can also organize contacts and track outreach using your CRM.
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