2. Make getting the last look unnecessary.
The whole concept of a “last look” implies that the reason the customer would do business with you is that you are the lowest price of the group of bidders. While there is a time and place to be the low price, I’d like for you to question whether or not this is how you’d like the customer to think of you. If you have done a good job in the past for the supplier, if you have become the low-risk
supplier, if you have understood the customer’s situation at a deeper level than your competitors, if you have some aspect of your product, service, or offer that sets you apart from the competitors, if you have communicated those things in a persuasive way, then the customer should be happy to do business with you even if you are not the absolute lowest price.
In other words, if you have done a good job of selling, then a couple of percentage points in the price should have no impact on the deal.
So, rather than try to be the low price, I’d prefer that you do a deeper, better job of selling to this account so that you don’t have to be the lowest price. And that means that you have created powerful, trusting relationships with the key people, that you have understood the dynamics of their situation at a
deeper and more detailed level than any of your competitors, and that you have fashioned a unique proposal that meets their deeper needs.
When you do that, you don’t need to worry about the last look.
3. Ensure that you get the last look.
While everything I said above is fine, the reality is that there will still be some situations where you won’t be able to implement those strategies, and are reduced to one option – be the low bidder.
Some of your customers negotiate the business with you, and the last look is, of course, not an issue with them. Some of them will buy from you because of the good job of selling you did, and the last look, with them, is not an issue.
But you will still probably be left with those who are going to bid and award the business primarily on the basis of price. It’s that group for which you’d like to have the last look.
How do you do that? By achieving excellence in the basics: building powerful, positive business relationships with those key contacts, by understanding their needs in deeper and more detailed ways than any of your competitors, by doing everything you can to assure that your company is highly respected by the customer, and finally, by asking for the opportunity.
What you are really asking for is the preference of the customer. In other words, where the customer sees no difference between you and the other guy in your offer, he still prefers doing business with you. This scenario assumes that there is no difference between you and your competitor, and there is no reason for the customer to pay a little more to do business with you. Your only hope is
that the customer will prefer to do business with you, providing you are the lowest price.
Ask yourself why the customer would prefer you. Create a detailed answer. Then set about becoming the supplier with which your customer would want to do business. And, continually ask for the opportunity to have a last look.
Remember that getting the last look is the last, least desirable strategy to pursue. While there will always be times and situations where it is your last resort, those times and situations should be minimal.