I was shocked the other day when I was reading an article comparing the strengths and weaknesses of the various media when the author suggested “Radio rates are the most flexible of all media because their sales people are perceived to be poorly trained in negotiating skills”.
While it’s not my intent to give a course on negotiating skills in this short memo, I would like to dispel the myth that it is the buyer who holds all of the cards, or power, in a negotiation.
Here is some of the “power” you need to exert, to affect a balance of power in your negotiating process:
- The Power of Attitude. You and your people must develop the attitude that “We’re expensive, proud of it, and worth every penny!”
- The Power of Preparation. You need to anticipate, up front, what the client might ask for, how far you are willing to negotiate and under what terms. For every concession you plan, plan a concession that you will ask of the buyer in return.
- The Power of Expertise. Know your product, your market and your client. James Schlinkert, the former CEO of Olivetti Corp, was famous for his assertion that, “You need to establish yourself, not the buyer, as the expert to make a major sale”.
- The Power of Filling a Customer Need. When you understand the customer’s needs and, your unique ability at filling those needs, the negotiation quickly turns to BOTH parties actively seeking a win-win solution.
- Last, but certainly not least, the Power of the word “No”. Know when to say “no” and, when to walk. You will not only gain the client’s respect, but you will be able to move on to make more efficient use of your time. Know when to leave transactional clients behind.
Remember, you don’t need EVERY account in your market on the air….you only need 20 solid relational accounts using your station 20 times a week for 52 weeks a year to earn a very good living!