How To Renegotiate A Contract
Dina Pruitt, D2 Strategic
Are you having trouble speaking to your clients about a contract renewal at a higher rate?
Listen to Nikki's on-air coaching call with Dina Pruitt, one of our brilliant members of the Sales Maven Society. Dina is the owner of D2 Strategic. She is a Facebook and Instagram Ads strategist and a self-proclaimed Google Analytics nerd. If you have been struggling with how to renegotiate a contract with your sales clients, this is a great place to start!
Dina shares that she needs support around how to communicate with her existing clients. Her new clients have an initial three-month contract with her, and she wants to know how to negotiate a new contract with them and the language to use when she is speaking to them about a rate increase.
More on how to renegotiate a contract…
Nikki says that one way to approach a client when negotiating a new contract is to make it a statement of fact and be confident. Know your clients' preferred way of contact and use it to communicate the need to speak with them for a few minutes about transitioning into a new contract. List the advantages of signing a six-month contract over a three month if you would like to transition them to a longer contract. Knowing how to renegotiate a contract is hard. Nikki expertly walks you through it seamlessly.
Listen, as Dina shares, the number one benefit of being a Sales Maven Society member is the video resource library that Nikki has set up. She says that there are so many videos, and they are organized so well that all she has to do is click and get her question answered. Dina says she loves diving into the treasure chest of Nikki's knowledge.
WOW! Nikki is offering a trial discount for your first month as a member of the Sales Maven Society! It's a monthly membership, and for a limited time, you can receive your first month for $47. If you have ever wondered what's so great about the group, this is your chance to find out. Use Coupon code: 47trial to get your first month for only $47.00!
[01:04] Welcome to the show, Dina!
[01:27] Dina shares a little about herself and her business.
[04:16] Dina speaks her difficulty in speaking to her customers about a rate increase.
[05:58] Nikki discusses the way to approach this conversation on how to renegotiate a contract with a client.
[07:50] Nikki speaks about two studies that she read around this topic.
[08:52] When negotiating a new contract, make it a statement of fact.
[10:04] Nikki shares that stepping up a client is another way to do this.
[12:25] Nikki speaks about the way to position the idea of signing a six-month contract versus a three-month contract.
[13:39] Dina's follow-up question is how to begin the conversation with her client?
[14:41] It's better to have it as a live conversation back and forth with the client.
[16:31] Nikki speaks about the correct way to set up a conversation with a client.
[18:42] Nikki shares the language to move a month-to-month client to a contracted client.
[20:51] Dina says that a benefit for her of being part of the Sales Maven Society is the video resource course library.
[22:57] They discuss the way they first got connected.
[24:49] Nikki speaks about how touched she was when Dina became a lifetime member of the Sales Maven Society.
[25:33] Dina shares that you can sign up to download three free reports that you should look at to track and measure your marketing ROI, go to www.d2strategic.com to sign up.
[25:50] Nikki is offering a trial to become a member of the Sales Maven Society at $47 for your first month. Use code 47trial at www.salesmavensociety.com.
[27:22] Thank you for being on the show!