Mastering the Art of Negotiation with Andrew Bailey

Mastering the Art of Negotiation with Andrew Bailey

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Summary:
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Andrew Bailey is a Value Pricing and Price Negotiation Specialist. He is the founder of Commercial Strategy 4. He helps you unleash your pricing power to sell more, more often, and at a higher price to achieve the profits you deserve.

In this episode, Andrew shares his strategy for value-based pricing negotiations to help you achieve the highest possible pricing for your product or service.

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Why you have to check out today’s podcast:
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- Explore how you can present alternative options during negotiations by combining price and value selling strategies
- Discover one great technique for setting the stage and preparing the buyer's mindset for a pricing value conversation
- Uncover a more effective approach to pricing instead of simply relying on discounts

"Improve your prices and just get really good at customer conversations."
- Andrew Bailey

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Topics Covered:
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01:14 - How he started in pricing

03:40 - Important consideration for negotiation

04:58 - Defining value for clients and questions to ask to understand the value you're delivering

09:21 - Dealing with procurement people versus the pricing committee as you go through value discovery process

12:32 - Key insights on opposing viewpoints between procurement and committee

14:28 - Practicing real-life price negotiations

16:36 - Pricing and value negotiation strategy that people rarely do but should be considered

24:08 - The biggest mistake in pricing negotiations and what should be done instead

27:53 - Andrew's best pricing advice to impact one's business

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Key Takeaways:
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"Ultimately, your ability to achieve the results that you want in pricing and negotiating is focused around your negotiating strength." - Andrew Bailey

"What I talk to people about is understanding what's really important to customers, what matters to them." - Andrew Bailey

"Don't try to make a whole long list of things that you can do for your clients and customers. It's probably two or three things that's really important to them. Just focus on that. That's a great place to get to." - Andrew Bailey

"We can give some discount and then we agree to it without really thinking about, could we do this differently? Is there a better way, is there more value here than simply that price and that quantity?" - Andrew Bailey

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Connect with Andrew Bailey:
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Connect with Mark Stiving:
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VISIT THE IMPACT PRICING PODCAST for Full Show Notes and Resources: