Strategies for Negotiating the Best Rate with a Buyer

By Ike

Negotiation: What happens when your buyer wants more?

When negotiating rates with a buyer, it can be difficult to find that fine line between pushing for what you feel you’re worth and offering a great value for money service that the buyer will appreciate. It’s always good to have a clear idea of how much you want/need for the work before you start to negotiate and if possible, have a lowest price you’ll go to in mind. This would enable you negotiate within your means but still be flexible. Here are a few proven strategies for negotiating the best rate with a Buyer:

Fixed prices are just that. Aren’t they?

There are things you can give into quite easily, although without compromising your position. If you’re experiencing a slow week, and a buyer purchases one of your services, and then asks for an urgent delivery, it may be worth over-delivering without extra charging for the sake of future work. However, sometimes a buyer simply wants too much, and you just have to try to find a happy medium. Take a cue from the scenario below

Negotiating for extra work

Imagine you have a buyer who wants you to design a Logo for $X but they’re asking you to include a letterhead and compliments slip at the same time. If you’ve not much work on, and the letterhead and compliments slip won’t take you more than a few moments to knock up, then it’s sometimes tempting to let these things slide, and offer to add them in without charging.

However, this can be a slippery slope, and before you know it you’re practically working for free. You are, after all providing an additional service.

What should I do?

In my experience, you have to look at it from a timing perspective. If you design the logo, it’ll take 1 Quicky, and the complimentary slip and letterhead will take another one and half Quickies. Personally, if it were my customer, I would go back to the buyer and respond with something along the lines of:

“Dear buyer,
Thanks for your interest in my other services. I do have a Quicky available for complimentary slip and letterhead design, but as you are purchasing a Logo, I can offer you a discount of xx% if you’d like me to do all three! I also have another Quicky available with a business card service, and I could offer you the full package for xxx, saving you xx%.

Please do let me know what would suit you best”

This way, you’re telling the buyer you’re willing to be flexible, but allowing them to see that since you do have a Quicky available for the other service they’re asking for, it’s not really fair for them to ask you to do it for free. You’re also strategically adding in another option to net you even more work!

Sometimes it’s very challenging to negotiate, especially if you’re just starting out, but over time, you’ll see that many people will still give you work, even if you stand firm to your prices. However, it’s always best if you work with just a little flexibility.

 

 

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