Always the hardest thing to do but it could be the best thing you can do for a longer term relationship with the client. What you have done by walking away from the deal is to show the client you place a high value on the product you are offering and that there are other potential clients who also place that same value on it.
Before you begin negotiations you must determine in your own mind what your limits will be. Don’t decide on the spot when you will walk, know the limit before you even sit down with the client – there’s no doubt the client has already decided what his limit will be and he will be prepared to walk rather than exceed his limit.
Of course walking away is always the last resort after having exhausted all other avenues, however always plan for it as part of your negotiation preparation and know when the time is right.
-Snowboy
#2
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Of course walking away is always the last resort after having exhausted all other avenues, however always plan for it as part of your negotiation preparation and know when the time is right.
How do you come back to the negotiation table after walking away? -Houston
#3
I would never completely Close the negotiation. By leaving it open in such a way that I couldn't return or come back at a later date. This comment would also be more prevailent depending on what industry you are in. I have "walked away" from deals before only to find that the customer come back before I follow up with the realisation that I was trying to help them but what they were asking for was literally not going to happen. -Snowboy
#4
Its' anice thought - Has anyone had an experience where this has worked? -Jabber
#5
Emma,
Absolutely,
Just one that springs to mind - I had a client who was a lovely chinese man. He wanted to everything about the product so I gave him all of the details. He wanted to go away to get his wifes approval. I established an appointment with him the following morning to talk about the dollars, he requested straight up for a discount of $10000 on a $26988 product. Clearly there is not that much room to move - So i told him that I might be able to help out with hundreds not thousands - He then said minimum $9500 - I closed my book and shook his hand and politely told him that we should end it there as he might not have enough money to go through with the purchase - He then said fine gruffly - I walked away - He then called me back when I was about 10 meters away and signed up at $26988.
It worked for me. -Snowboy
#6
I bet that was in the Automotive industry - I do that all the time and it works for me too. -Wanderer
#7
It has worked for me plenty -Wowsap
#8
Yeah I think this is specified mainly for the Automotive Industry. -John Hughes
#9
Must say Walking away isn't soething I do. -SexSells
#10
Hello Wanderer - Yes that was when I was in the Automotive Industry.
Thanks for your comments. -Snowboy
#11
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It has worked for me plenty
Good to hear Wowsap.
Thanks and All the best. -Snowboy
#12
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Yeah I think this is specified mainly for the Automotive Industry.
Not so much only for the Automotive Industry - I have been in several sales fields and adopt this same strategy. -Snowboy
#13
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Must say Walking away isn't soething I do.
Victoria,
I don't know that in your industry you would.
I am sure that there would be atime though when you hit a hard rock and think maybe if you back off the client will come to you???
Before you begin negotiations you must determine in your own mind what your limits will be. Don’t decide on the spot when you will walk, know the limit before you even sit down with the client – there’s no doubt the client has already decided what his limit will be and he will be prepared to walk rather than exceed his limit.
Of course walking away is always the last resort after having exhausted all other avenues, however always plan for it as part of your negotiation preparation and know when the time is right.