Negotiation and Sales Tool: Strategic Give
What is a strategic give?
A strategic give is the tactic of offering something at the start of a conversation that lays the foundation for a trusting, balanced and cooperative business relationship. This tactic is a helpful tool in negotiating and an invaluable asset when pursuing business prospects, without compromising your authenticity.
Simply put, you want to deposit into the relationship bank before making a withdrawal. Whether you are asking for money or needing a commitment from the other party, giving – in the right way – during a negotiation can set you up for success in more ways than one.
The Three Components of a Strategic Give
1. Your give should be easy.
There is no need to give away the farm to establish good faith with a prospect or lead. An ideal strategic give is something that is easy for you to give. You can easily transition a valuable lead into the pipeline by offering some of your time or a quick-access resource.
2. Your give needs to be valuable to the customer.
Whether you ultimately end up working together or not, the strategic give should be something that is undoubtedly valuable for your lead or prospect. The give is pointless if it doesn’t help your customer in some way.
3. Your give should help them understand how you would work together.
Consider what you can do for a customer that will help them identify their problem or get to the next step of understanding. The strategic give is an opportunity to demonstrate how you can add value, and how your product or service would benefit them.
The Goal of a Strategic Give
Ultimately, the strategic give is a helpful tool to nudge your customer/lead/prospect further down the pipeline – whether that’s getting a sale closer to closing or getting a lead closer to conversion. A strategic give establishes good faith, and kickstarts a cooperative, trusting and successful business relationship.