1. Be sure you’re talking to the “true” decision maker. Some “decision makers” can decide an ad size but don’t have the authority to move print dollars to OOH.
2. Help prospects buy. Advertisers only negotiate for what they want. They don’t want billboards; they want what billboards do.
3. Assure them, based on the quantity, timing, placement, etc. that they are getting the best price.The prospect has no idea what your product costs until you tell them. Business owners negotiate to be sure they are getting the best price available
4. Make sure your proposal/position is based on quantifiable elements such as impressions, persons reached, etc. Too often we are negotiating a proposal with little discussion of the quantifiable deliverables and how that compares with the cost/delivery of other media.
5. Sell your experience, dedication, and market knowledge as “value-added”. Your insights help your client win. (Refer to the Service Contract in my April 19 column: KILLER PROPOSALS Part #2).
6. Only quote your program as an “all-in” total price. Don’t price elements separately. It begs cherry picking.
7. Don’t be distracted by insignificant items, Gorilla Dust, (Gorillas, when fighting, throw up dust to distract their opponent).
8. Beware of fake carrots: “If this works, we’ll buy more.”  Really? I would think so!
9. The best negotiating begins, as so many other sales elements; at the data gathering stage. Gather the right information and it will provide a powerful roadmap to close the deal.
10. Play the silence card; it’s deafening in a negotiation! Nervousness often prevents us from being silent.
11. Be sure you have drawn out all of the concerns/elements. Don’t be ambushed by a late-in-the-game objection.
12. Defer your response to any offers/objections; acknowledge, make a note, and address later. The slower you are to give a response/concession the more value it has.
13. Understand your BATNA (Best Alternative to A Negotiated Agreement). If you only have one person interested in your location(s), you have very little BATNA.  The more prospects you cultivate for a given location. the better the BATNA.
14. The most meaningful exchanges come in the final 20% of the meeting.
15. It’s never just about price. Negotiations involve a multitude of motivations from profit attainment to job security.
16. Be a student of spoken and unspoken communication.  Read body-language, tone, eye-contact, etc.
17. Understand the difference between a “condition” and an “objection”.
18. When a prospect asks a question about an element/feature. Don’t answer directly; ask if that element is important to them before you answer.
19. Each negotiation is an installment in the ongoing client relationship. You must always give a specific reason for “no” and have them understand it comes from a higher authority not you.    You must continue as their trusted business advisor after this negotiation. Be on their side at this juncture.
20. Know you will lose some deals. If you’re batting 1000, you’re playing in the little leagues.
21. Make notes about the negotiation to be better prepared to data-gather and negotiate at the next turn.

Next week: Closing the Sale

If I can leverage my experience to help you/your company sell more OOH faster, contact me at: KevinJGephart@gmail.com

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