Note to Sales #22. "It's Dead Jim, but not as we know it"
Posted: 1st February 2016
From time to time you are introduced to a deal that looks OK to start off with but after a visit or a survey it becomes clear that it is not so easy after all. In fact what the prospect wants is not something that you feel we can provide. The immediate response to this situation is “Sorry we can’t help”.
But I call these deals:
“The Walking Dead!”
We can still deal with them (just) but it means doing so on our own terms, not theirs.
Your usual emphasis shifts from “what can we do to suit you?” to “what can you do to suit us?”
So, rather than kill them off we can still offer a deal that suits us; it might mean a low prepayment, shorter recourse period, or even additional security (second charge) - and always a good return.
You don’t need to be totally brutal though; the deal can be “softened” by future reviews of prepayment or price based on improving performance. For example:
50% prepayment reviewed in 3 months based on the performance of the account
If the client rejects the deal or competition comes in with a better offer then just say goodbye - you have lost nothing. But what may surprise you is the number of times that an offer which you think will be unacceptable is actually greeted with open arms.