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Do You Want to Encourage
Last Minute Revenue?

This is in response to a request: "Have you got a strategy to encourage the last bits of revenue from the calendar year?" So let's consider something you can do this week. Let me start with three thoughts.

First: Most of my clients and business friends are looking to get as much revenue as possible in the next few weeks. If that is you, keep reading.

Second: The traditional path is to discount deals and add pressure to the sales team and customer. This works some of the time, but you know that there are deals where it won't work. Everyone knows the game, and your customers are often resistant to it. They think of end of year revenue as our problem, not theirs. And they are usually right aren't they? So we try to buy or pressure their help.

Third: Most people, under pressure, return to old habits. The more pressure we apply, the more they work from history. In other words, under pressure most people hunker down to what they used to do.

Is that what you want?

If pressure and discounts are not working, consider reversing the pressure. Two options for you:

1 - Go to the prospect and say that you are done trying to pressure him/her. Ask what they would want that would add value instead. If you have a $500K proposal on the table, instead of discounting another $25K, ask what service you could provide that is not in the proposal that would help them this year or next. If you can do it for less than $25K, just make it part of the deal. They get something they didn't expect, you get to hold your price at $500K.

The point is not that you are giving them a discount in another way. The point is that you are letting them define value as they see it and you are delivering it. You are releasing pressure and changing the conversation. When the customer relaxes, she or he can see other solutions. You gain as well.

2 - Back off the pressure, start talking about 2018 plans and goals. Ask what she or he wants to get done next year, and just let them talk about that. You'll learn about what your future deals can be. Just as likely, if they are budget constrained (pressure from their own organization instead of you) then see if you can help them do some of that in this year's budget. You become part of the solution to their problem. You might wind up modifying your offer to be part what you had in mind and part what they had in mind, but still book a deal this year.

The point is not that you are backing off. The point is that you are engaging them to help them get something done that matters to them. You are releasing pressure and changing the conversation.When the customer relaxes, she or he can see other solutions. You gain as well.

It may be hard in December, but take a breath. Help your customer take a breath. Let both of you move from hunker down to a two way conversation. You might just book some good 2017 business as you do.

By the way, if you are asking where I have been, thank you. I spent a large part of the past few months intensely experiencing our health care system. I'm fine, getting stronger, and working again. And now I'm blogging again as well. My mind is going full speed, spin me some questions and requests!




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