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Over £900,000 incremental value realised following Essential Negotiation workshop

Context

Our client needed to accelerate their negotiation capability, particularly as the pandemic impacted their business. Even though food service commercial discussions were halted during this period, the commercial managers were fully expecting more pressure and challenge from their food service stakeholders. Prior to our session, delegates voiced that they needed support in ensuring: Buyers were conditional in their commitments They could better handle aggressive buyers They could flex their negotiation to the style of their buyer They were better planned and prepared Communication of a final, absolute position (&therefore no more negotiation!)

 

Approach

Our agreed approach was to host our Essential Negotiation workshop for 10 Foodservice account managers (held in Feb’21). This was supported by embedding 121’s with the lead facilitator 4-6 weeks after the workshop.

 

Outcome

Following the delivery of our Essential Negotiation workshop the delegate feedback scores were above our own internal targets*. In addition, the commercial impact of the workshop, shared 4 weeks later during the 121’s was outstanding. From 8 delegates, £902,000 incremental commercial value was realised through the delegate's improved negotiation skills. Some of the other highlights touched upon in the 121’s were: Increased TAKES (SKU listings 18 to 23) and negotiated more value from GIVES (online deal) New variables entered into the negotiation, creating new value Over-delivery in a CPI Signing of terms earlier than usual, the commercial value being realised more quickly and minimised grey purchasing Retained business worth £250k, through the introduction of a new variable (extended terms from 12 to 18months) *Delegate feedback: Tangible value (4.8/5.0), Programme facilitation (4.9/5.0), Quality of event (5.0/5.0), Likely to recommend (5.0/5.0).

 

Objectives

Our clients commercial team needed a consistent, high quality structure to approach all negotiations Their team included high quality individuals who required a thorough collaborative approach which enabled them to deal with all retailer approaches.

 

Appreciated how the facilitators treated each candidate individually and focused on everyone’s individual objectives to ensure everyone’s need was met Very well organised, and very well ran. I think you have done a great job delivering the course virtually as I can imagine it has its own challenges. Keep doing what you are doing in the way you are doing it as it has been brilliant

About the author

Total Negotiation Group