Your MSP marketing efforts can be like dating a high-maintenance individual. You’ve put on nice clothes, secured reservations, seen the hippest film, and partied at the finest martini bars. Then, you get home, and it turns out she’s allergic to cats. You don’t even have a cat, but apparently, there’s some piece of fuzz on a coat you wore to your crazy cat sister’s house last week. Your date sneezes then decided to leave. What did you invest all your time? Well, imagine the lady in this scenario as the client you’ve been courting for a long period of time, and right before you close on the deal, she “sneezed” and ran out on you. Only, the sneeze looks like this:
“Well, I can’t close at that price, my boss would kill me!”
“What, do you think I’m new at this? Cut off 20% and we’re good.”
What do you do in this situation? Do you fight, do you walk, or do you negotiate? Well, fighting is no good; that’s just bad for your reputation. Leaving won’t secure you the customer. Now, you’ve given them the power. Conceding does no good either because they expect it in the future. So, what do you do? Following are several considerable strategies:
- Establish and stick to your “walkaway”
- Take in data when attacks come
- Don’t lose track of the real issues
- Rebuttal (when appropriate) with company needs
Establish And Stick To Your “Walkaway”
In terms of selling, a “walkaway” is comprised of the price, the terms of your service, and what you can deliver. Once you’ve figured this out, then you can determine what the smallest sum you’re willing to accept. When you suspect you’ve got a tough customer, then go into it with a price higher than the bottom line of your walkaway. That way, when the client tries to low-ball you, you’ve got some quotient of maneuverability. Don’t go below the threshold of your walkaway, or you lose money.
Take In Data When Attacks Come
Sometimes, the best strategy against such angry clients is simply listening to their needs. You may not be able to drop the price, but there could be some bureaucratic concession to be made, which allows the customer to accept your services. Oftentimes, the individuals you’re speaking with have higher-ups they are looking to impress, and they have decided the best way to do that is by cutting regularly recurring costs. Well, you might look at some way some services of yours can cut an additional expense out of their operation. This allows them to save their superiors money without transgressing your predefined MSP marketing walkaway. Your best way to get the appropriate information in order to offer such a parley involves closely listening to what the customer is saying and finding a way to meet their needs without compromising your own.
Don’t Lose Track Of The Real Issues
Customers will get you so far into the “high grass” of back-and-forth that you forget the real issues at stake and miss a selling opportunity where you could potentially restructure things and make a sale. Always have your endpoint in mind and always know where things stand in regard to that which is important to your MSP and the client.
Company Needs Rebuttal
Now, you don’t want to do this at the wrong time or it makes it look like your MSP is more focused internally than it should be. However, sometimes you’ve got to put your “cards on the table” and show that you can’t negotiate down any further because it undermines your ability to operate. This is a stalemate move and will likely force the negotiator to talk to a superior who can authorize the sale.
Keep Moving Forward
Your MSP marketing must keep one thing in mind during all these tactics designed to parley with “hardball” clients. Keep emotion out of the picture. Plan your strategy beforehand. Listen, know the real issues, and rebuttal when necessary. Such actions should prove a great help in solidifying conversions.