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You Get What You Negotiate

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sales negotiation skills techniques

 

It has been said, “if you don’t ask for it, you’ll never get it.”  Indeed, one hallmark of a sales pro is business and sales negotiation skills. But besides skills, effective sales negotiations are dependent on personal values, beliefs and attitudes.  To boost your personal success, put into action the following sales negotiations tips:

 

Sales Negotiation Skills and Tips

  1. ASSESS NEEDS THOROUGHLY:  The best way to negotiate sales is to completely understand what your client or prospect is seeking and why.  The more needs and issues you can identify, the more ways you have to structure an arrangement that works for both sides.
  2. QUANTIFY BENEFITS:  Understanding the financial and intangible benefits that the client will likely realize after purchasing your product or service helps deflect price and value objections during the negotiation stage of the sale and helps reduce the need to discount.
  3. MAINTAIN CONTROL:  The one most in control has the ability to negotiate the best deal.  Examples of maintaining control include: setting meeting agendas, initiating a negotiation call (when the other side may not have the luxury of as much time as you) and setting other types of limits.
  4. BEWARE OF DIVULGING TOO MUCH:  Letting the other party know more than they need to can give them the upper hand.  Examples include: that you need one more sale this month to make quota, that your product pricing is expected to be reduced in the future and that you have granted more favorable terms to other clients.
  5. HAVE A WALK-AWAY:  Pre-determine the point at which the deal makes no sense (e.g. anything below a certain price level, any terms beyond net 90) and walk away from the sale when that point is reached.  Knowing in advance when to walk away can both help you avoid unprofitable sales and spur the client into agreeing to the minimum terms you need.
  6. CREATE A BACK UP PLAN:  Should the negotiation fail, have a back up plan (e.g. an alternate product to propose or a trial program).  Many failing business deals have been revived due to well-conceived back up plans.
  7. FOCUS ON A WIN-WIN:  Since most salespeople are looking to enhance relationships to solidify future business, it is imperative that clients see value and fairness during the sales negotiations.

 

Without a doubt, learning how others successfully conduct sales negotiations is key to improving your sales results and personal earnings.  Remember, “You get what you negotiate!”

 

All Rights Reserved.  The Sales Alliance Inc.  San Diego, CA

 

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