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What's in a name? A powerful negotiation tool
When it comes to negotiations, normally the preparation documentation lists the BATNA, LAA, MDO etc. All good and well, but using only these tools will mean that you are not exploiting a most valuable tool: your company name.
What is a good reductive pricing strategy and where can you really get costs down? Bidders add a certain amount of cost to their final pricing for the risk of doing business with you. Now, if you have a well-known, scandal free and well-respected brand name, then you can use this to argue these additional costs away and get to a better price. The bidders want to do business with you because they know that your company are going to pay its bills in full and on time ensuring they can do the same to their suppliers.
Additionally, you will have seen an “Our Customers” slide in the presentation deck from your bidders. Note that they would list the well-known brands in this slide. Having your brand on their “Our Customers’” slide will help them to “sell” into other companies in your industry making your company name a valuable commodity to the winning bidder. Should they not “pay” for the privilege of using your company name?
What’s in a name? A lot: negotiation power, better pricing, better service delivery, better payment terms, etc! Don’t discount this powerful tool.
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