Hospitality sales negotiations based on time to the decision

hospitality sales calendar

Hospitality sales negotiations change depending on how much time is left to the decision point.

In hospitality sales negotiations (and all negotiations for that matter), all other factors being equal, whoever has the most time wins. That’s why we always say “When are you looking to make a decision?” (At least you SHOULD always be asking that!)

If the client replies to that question “’I’ve got to make it by today!” who do you think has the superior position in the negotiations? We as hospitality sales people do, of course.

If the answer to the question is “Well, you know, the site selection committee doesn’t really meet until April. It’s January right now, and we’ll probably be making a decision sometime around June or July” then you don’t have much leverage with regard to the decision making time frame.

In a hospitality sales situation like that, there’s not much you can do to speed that up, right?

Or is there? I challenge you to share some things you might suggest as ways to make the process go more quickly. Why not click the “Read full article” link at the bottom of this post, and share your insights on this topic in the comments section?

But even if you can’t speed things up, you do want to keep tracking the entire decision making process as it proceeds through the year. Such decision timelines can easily get off track and time could pop up as a factor once again. So if you are involved in a long-range hospitality sales cycle, be sure to keep in touch with the client at appropriate intervals to keep track of how the process is proceeding.  And the closer you get to the end of the cycle, your quick responsiveness can give you an advantage not only in negotiating with the client for more favorable terms, but also to outshine your hospitality sales competition for the piece of business.

This latter point (outshining your competition) is a critical factor that I have explored on the blog in the past where I wrote about “Hotel sales people have to distinguish their hotel from the competition.”

 

Posted 1/28/13

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