Being an expert negotiator is the art of getting your way, and the client thinks it's their idea. While creating a win/win for everyone.

And you don’t need to be a master salesman to do it. It's about being a good listener and communicator.

The negotiation occurs throughout the entire sales process, from your first email to the closing call and even after the project is done.

How you interact with the client will have a direct effect on:

• How much you can charge
• If they like/trust you
• How they perceive you
• The objections they have
• If they hire you again

Today, I'll share 8 Negotiation Techniques (in the next two posts) that I’ve personally tested and have helped me close more deals for higher budgets.

I didn’t develop these techniques on my own; most of them were learned from the book “Never Split the Difference” - by Chris Voss. An FBI negotiator who mastered the art of high stakes negotiating with criminals, bank robbers, and terrorists.

It’s packed with stories from his career, so If you want to improve your general negotiation and communication skills, I highly recommend this book!

Ok, let's go!

YOU + CLIENT = DEAL

Shifting my mindset around negotiation was one of those AHA moments that changed how I interact with all clients.

The trick is to view you and the client as being on the same team, collaborating on a deal that works for everyone.

So when the client has objections, view them with a curious mindset and ask questions like:

• How can we make this happen? - when you seem to be stuck
• Have you given up on this? - when they ghost you
• Do you have a budget range in mind for this? - to gauge how much they’re willing to spend
• Have you hired a filmmaker in the past? How did it go? - to discover past experiences and potential future objections.
• We really want to make this happen, is there anything else we can do to get closer to our rate? - once the client is excited to work with you but doesn’t have the budget
• Is the price the only thing holding you back? - to gain clarity on their price objection

Let the client know you hear their concerns.

You’re on the same team working together to bring this epic project to life!

ANCHOR HIGH

This technique is so effective it works even if you’re aware of what’s going on.

Setting a high price anchor means being the first to say a price that sets the tone for the negotiation.

This works because people give so much weight to the first price mentioned that we get “anchored” and adjust our expectations closer to the number.

Examples:

• If you’re on a discovery call and want to test their price range, you can say: “We typically work on projects that are between (input your highest rates here). Is that aligned with what you had in mind for this?”
• My rate for a project like this is typically $50K (if that’s way over their budget). However, I do have another option for $35K that can get you the results you’re looking for. Are you interested? - Suddenly, the $35K option looks pretty good!

But be careful because this works both ways.

A client can low-anchor you and get you to lean toward their price, especially if you’re excited about the project.

So, how do you defend against a low anchor? Diffuse their offer and counter.

Make it clear that they’re offer is unacceptable, and counter with your new offer explaining why it’s fair.

Example: Thanks for sharing your rate! We’d love to find a way to make this work; unfortunately, it sounds like we’re way off here. That would be discounting our rate by 50%, and we aren’t able to do that with our other projects. Our rate for a project of this scope is $35K for 5 days of filming, 7 days of editing, music licensing, talent fees, and travel costs. Is there a way we can make this happen?

Counter with your usual rate, and don't offer any discounts right away.

See if they’re willing to negotiate with you on the price. Sometimes, they’re on a tight budget, but other times, they can offer more “wiggle room” on the budget if they want to work with you.

I’LL ASK THE TEAM

In a negotiation, it helps to use a third party to offload objections and offer a valid reason why your hands are tied and you simply can’t accommodate their request.

As a filmmaker, this can be your:

• Team
• Manager
• Contract

Example 1: Our contract requires 50% upfront to cover all production costs. Does that work for you?

Example 2: I already spoke to the team, and the best we can offer at this rate is 3x edits and 2 revisions. Does this work for you?

NEGOTIATE ON TERMS

What do you do if you want to work with a client but they don’t have the budget?

You’ve been chatting with them for a while, have a good relationship, and you want to make it work without feeling like you’re severely discounting your rates.

Look for other terms to negotiate on that don't involve cash.

Here are a few examples:

• Travel Expenses
• Extra Nights Stay
• Extra Amenities
• More Products
• Testimonial
• Referrals
• Payment Terms
• A long-term Contract

When you know the client is interested but you just seem to land on the budget, explore other creative ways to sweeten the deal.

What do you think of the first four techniques?

I split them up to give you more time to test them in your next client call or when you're convincing friends what restaurant to eat at.

Test them out this week and let me know how it goes!

Want to learn more? Join KC All Access to access Part 2 and tons of additional business insights.

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