Principles in negotiation for any Business Analyst

In my view, with any exchange, there is value for both parties involved, from each person’s perspective, albeit in varying degrees. Especially in a Business Analyst position, we should have clarity in understanding what the customer needs, and what value we can deliver to the stakeholders, similar to Bloom Taxonomy Model (a topic describing them and compare them with other models, especially BACCM¹, which will complete soon).

Index

1. Money: Price or Budget
2. Define value and credibility
3. Decistion
4. Assistance
5. Feedback
6. Evaluated results

1. Money: Price or Budget.

• Get more detailed information.
• Focus on the value of the product or service
• Refer to previous trial/packed product and customer satisfaction index.
• Be careful negotiating price.
• Satisfaction = Product Quality - Expectation Product

When it comes to exchanging money for a product or service, it’s important to gather as much information as possible, focusing on the value that we can provide with product or service provides, or customer satisfaction index. However, be careful when negotiating the price, as satisfaction is based on the quality of the product or service minus the customer’s expectations.

2. Define: Value and credibility.

• Trust and credibility.
• Understanding customer.
• Know your competitor.
• Features and benefits.

Building trust and credibility with the customer is key, which means understanding their needs and knowing your competitors. Make sure to highlight the features and benefits of your product or service to demonstrate its value.

3. Decision.

• Know theirs buying processing.
• Understanding the type of segment customer YOU are calling.
• Ask the buying to make an introduction to the decision maker .
• Ask to present your offering directly to others .
• Ask your buyer assistance to meet with the decision maker .

Knowing the customer’s buying process and segment is crucial, as is asking them to make an introduction to the decision makers. Ask to present your offering directly to others or ask for assistance from your buyer to meet with the decision maker.

4. Assistance.

• Focus on the financial benefits and easy of implementation .
• Show how your offer compares.
• Show you can make the change painless (or reduce risk).

Focus on the financial benefits and ease of implementation of your product or service, and show how it compares to the competition. Highlight how you can make the change painless to reduce risk.

5. Feedback.

• Gather your thoughts. (compare the difference to improve)
• Give yourself more time.
• Ask to clarify what they mean .

Gather your thoughts and compare the difference to improve. Give yourself time to examine yourself, and ask for clarification on what the customer means.

6. Evaluated Results

• Segment Customer.
• Effective Product.
  • Strengths
  • Weakness
  • Oppoturnities
  • Threats
• Revenue Market.
• Analysis of your time spent with pending deals.
• Improve error problem.

Segment your customers and focus on an effective product that identifies strengths, weaknesses, opportunities, and threats. Analyze your revenue market and time spent with pending deals, and improve any errors or problems.

References

• LinkedIn Learning, Become a Sales Representative.
• International Insitute of Business Analyst, BACCM model.

1. Business analyst core concept model. ↩