By now, your firm should have been contacted by your Westlaw or Lexis rep trying to squeeze in that “End of the Year” offer. So, why the big push for these special promotions? Maybe to get that last bit of revenue to get the company to their goal.
The big question is, should you consider these offers? The easy answer is, it wouldn’t hurt to listen. You just have to know what you’re being offered. Keep in mind, this will be an upsell sales pitch. They’re not going to come in and ask how they can save you money.
- Will the increase give you a return on your investment?
- How will the product be used in your firm and who will use the product?
- Would your firm be in worse shape 3 years from now if you didn’t have this product?
- Are you being asked to renew early in exchange for a contract extension? (this one should always get your attention!)
2020 has been a big adjustment for everyone. Meeting formats have changed. Sales styles have changed. But sales organizations still need to hit their revenue quota. Do you think sales reps around the country got some relief from their quotas? Probably not, or very little if any.
- Reps are trained to upsell you at every opportunity.
- Numbers still have to be met as shareholders want their dividends.
- Upper management is pushing their reps just as hard.
- Q4 is typically the largest quota for the year.
- Know exactly what you are buying and how it will be used.
Now, what could happen if you don’t jump on this “special offer” before the end of the year?
- Will the same offer be available next year?
- How badly do you really need this additional product?
- Would the product eventually be rolled in to your current plan?
- Is this something you were considering before being approached?
I’m not saying to ignore these last minute offers. Just go in with your eyes wide open. If you choose to be the cog in their revenue wheel, that’s fine, but don’t let them pressure you to get there.
Legal Counsel Consulting has the resources to evaluate contracts and services to assure competitive pricing.
If there is any way I can help or if you would like to schedule a brief conversation, please feel free to contact me.
Best regards, George
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