Industry

Banking & Financial Institutions
Corporate Banking

Company Profile

  • Global corporate and investment bank
  • Headquartered in Europe
  • Market leader

Situation and Objectives

  • A change in the regulatory framework greatly increased competition within the bank’s sector, which resulted in a significant shift of bargaining power toward clients
  • Objective: Restore profitability by adopting a more professional approach to negotiations with clients

Approach

  • Conducted a detailed study of the bank’s product proposition, its competitive advantages, and the overall buying process
  • Identified the key drivers of successful negotiations, such as assessing relative bargaining power, defining a list of counterarguments, prioritizing concessions, and preparing ”negotiation battlecards”
  • Ran extensive change management sessions to communicate the new approach and embed it into the organization’s mindset and processes
  • Developed and delivered effective tools to facilitate preparation for negotiations without generating additional administrative burden on sales staff

Deal-specific insights on bargaining power

Results

  • Improved negotiation capabilities of sales staff
  • Better monitoring of negotiation outcomes for future learning
  • Increased awareness of sales excellence topics by senior management

Impact

  • Reduction of revenue leakages due to better price defense
  • Cost savings due to more efficient preparation process