Apr 10, 2022
In Fashion Forum
By looking at the risk/reward matrix early in the cycle, you can develop strategies to reduce risk or decide to focus on different opportunities with higher chances of success. This will definitely increase your win rate! Bonus 2: Shorten the sales cycle Many salespeople offer deep and limited-time discounts to buyers, or other incentives, to close deals by specific quarter-end or year-end deadlines. However, as I discuss in Smart Negotiations in Business and Technology, the dynamics of leverage transfer are critical, especially in sales negotiations. At the end of your fiscal quarter or year, buyers are almost always influential, knowing that salespeople are desperate to close deals and set quotas. Therefore, incentives industry mailing list by salespeople are designed to help compel or motivate customers to take action. Then, by definition, any such incentives must expire by the deadline. Otherwise, the leverage will not be transferred from the buyer because the buyer has no additional reason to act. As we recently heard from one of our clients, "I'll get the reward anyway." If the reward isn't canceled, there's no reason to offer it in the first place! In fact, if you extend incentives such as price cuts after a set deadline, you will prolong the closing process and affect your credibility and profits! From the customer's perspective: "