Give/Get Scorecards: How to Maintain Balance and Drive Negotiations Forward
Picture this: You’re deep into a negotiation, offering discounts and extended terms to win over the prospect. But in return, you get little or no commitment from their side. This is where Give/Get Scorecards come in—they help ensure a fair exchange of value between you and your prospect.
In our Enterprise Sales Guide, we explored key tools that enable effective deal-making. Today, we’ll dive into how Give/Get Scorecards can help you maintain balance in negotiations and ensure that each concession leads to progress.
What are Give/Get Scorecards?
A Give/Get Scorecard is a tool used to track what you’re offering during negotiations and what you’re getting in return. The purpose of the scorecard is to ensure that each concession you make is balanced by a meaningful commitment from the prospect, helping to drive the deal forward without giving away too much.
Why are Give/Get Scorecards So Useful?
Negotiations often involve trade-offs, and without a clear strategy, you risk making too many concessions without advancing the deal. A Give/Get Scorecard helps you:
- Maintain balance: It ensures that every “give” from your side is matched by a “get” from the prospect.
- Drive commitments: By asking for something in return for each concession, you can gauge the prospect’s seriousness about moving forward.
- Prevent unnecessary discounts: Instead of offering discounts or extras too early, the scorecard helps you manage when and how to make concessions.
- Build leverage: You can strategically offer something valuable in exchange for critical commitments that drive the deal to close.
How to Apply Give/Get Scorecards in Enterprise Sales
Using a Give/Get Scorecard requires strategic planning during negotiations. Here’s how to effectively use it in practice:
1. Identify What You’re Willing to Give
List all the potential concessions you might offer during the negotiation process, such as discounts, extended payment terms, or faster implementation.
2. Determine What You Want to Get
For each concession, clearly define what you expect in return. This could include commitments like earlier signing dates, access to higher-level stakeholders, or guaranteed volume.
Example:
"We can offer a 10% discount if we receive a signed contract by the end of the quarter."
3. Track Every Concession
As negotiations progress, use the scorecard to track each give and get. This ensures that both sides are contributing equally and that you’re not giving away too much too soon.
4. Leverage to Close the Deal
As you approach the final stages of negotiation, use your scorecard to push for a balanced exchange that moves the deal across the finish line.
Key Takeaways:
- Give/Get Scorecards ensure a balanced exchange of value in negotiations, preventing unnecessary concessions.
- By tracking each give and get, you drive the prospect to commit and help move the deal forward.
- Give/Get Scorecards help maintain leverage, allowing you to close deals on favorable terms.