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Much business advise is focused on negotiation, but mostly in terms of how you can save money, not how you can get a better deal. After all, most of us can relate to trying to acquire a bargain than we can selling an item for more money, except for during those infrequent life scenarios where we might be haggling over a car price, or putting in offers for a house.
As a supplier, you’re likely familiar with clients and customers trying to negotiate better contracts this time around to stay with you. They have other businesses that could do the job after all, and in some cases may have backups lined up. But that doesn’t mean you have to give a cut-rate fee every single time the contract lapses.
In this post, we’ll discuss how to negotiate better deals on your part for the customers you supply. With a little care and caution, you might be surprised just how much wriggle room exists here.
Manage The Contracts With Care
It’s essential to manage each contract with care, and to use essential tools like contract automation software to do that. This way, you can properly overview the entire history of the contract, discuss where value could be delivered, and review the metrics that may be most appropriate and necessary to your clients. For example, perhaps they require your orders to be sent to two locations this time around, and you can offer a discount for double the provision to make it worth their while. Then you could move onto the next approach:
Scale & Offer Modular Packages
It’s always healthy to both scale and offer the right modular packages to customers looking to slot your service exactly where it’s needed. It’s very easy to think your service should be all-encompassing and all clients should be on the VIP plan, but if you can allow them the pick and choose services they need for teh healthy functioning of their firms, even if they downsize, it shows your service is for them, not something they have to be “good enough” to onboard with. Services that see you’re willing to offer those provisions will no doubt appreciate the effort.
Grow Alongside & Understand The Firms You Service
It’s important to grow alongside and understand those firms you service. You might tailor your services over time, offer robust personalization, and even make sure clients that are developing have a reason to stick with you – perhaps being assigned a singular account manager they can refer to at all times, ensuring a consistent experience no matter what support request they need to put through. With all of this combined, a negotiation won’t only include the price you have to deliberate, but what adjustments to the contract are needed and understanding feedback they may provide regarding past services. This can only empower you as a service.
With this advice, you’re sure to negotiate better deals with those consumers you supply. We wish you the best of luck in your efforts.
