How many times have you ever heard:
“You’ve need to drop your price by 10% or we’ll haven’t any choice but to travel together with your competition.”
“You will need to make an exception to your policy if you would like our business.”
“I know that you simply have good quality and repair , but so do your competitors. What we’d like to specialise in here is your pricing.”
“I agree that those special services you retain mentioning would be nice, but we simply do not have the funds to get them. Could you include them at no additional cost?”
Every time you hear statements like these, you’re within the middle of a difficult sales negotiation. How you handle that negotiation will determine whether or not you shut the sale and the way profitable that sale are going to be . so as to offer you a true edge whenever , I even have listed below some key points taken from my sales negotiation training seminar.
Don’t Believe Everything You See and listen to
Part of an honest salesperson’s skill is to find out to read people and situations very quickly. However, when it gets right down to negotiating, you’ve got to require everything you see and listen to with a grain of salt. Buyers are good negotiators, and thus they’re good actors. you’ll be the sole one that has what she needs, but everything she does and says, from visual communication to the words she uses, are going to be designed to steer you to believe that unless she gets an additional 10% off, she’s going with the competition. Be skeptical. Be suspicious. Test, probe, and see what happens.
Don’t Offer Your Bottom Line Early within the Negotiation
How many times have you ever been asked to “give me your best price”? have you ever ever given your best price only to get that the customer still wanted more? you’ve got to play the sport . It’s expected. If you’ll drop your price by 10%, start out with 0%, or 2%, or 4%. Leave yourself room to barter some more. Who knows – you’ll catch on for a 2% reduction. you would possibly need to go all the thanks to 10%, but often you will not . a touch stubbornness pays big dividends.
Get Something reciprocally for Your Added Value
What if you discover that the customer wants to be ready to track his expenditures for your products or services during a way that’s much more detailed and sophisticated than is standard for your industry? What if your account tracking system is about up during a way that you simply can provide that information at essentially no cost to you? Often the salesperson’s overwhelming temptation is to leap in and say, “Oh, we will do this . That’s no problem.” Before you are doing , however, believe your options. you’ll throw it in as a part of the package and check out to create good will. otherwise you could take a deep breath and check out something like, “That’s a difficult problem which will require some effort on our part, but it’s doable.”
In the second case, without committing, you’ve told the customer it’s possible. you’ll not be ready to get him to pay extra for it but you’ll be ready to use it as a leverage in resisting price concessions. Which way you select to travel will depend upon who your customer is and on things . However, you are doing have options.
Sell and Negotiate Simultaneously
Think of selling and negotiating as two sides of an equivalent coin. Sometimes one side is confront , and sometimes the opposite side, but they’re always both there. this is often particularly true in your earliest contacts with the customer . The face the customer sees is that of a salesman demonstrating features and benefits. The hidden face is that of a negotiator probing and seeking out information which will be invaluable later should issues like price, terms, quality, delivery, etc. need to be negotiated.
Finally, and most vital , twiddling my thumbs . Sales may be a high energy, fast paced business. Patience is one commodity that’s in relatively short supply, but if you’re impatient during a negotiation, you’ll lose your shirt. If I’m negotiating with you and that i know that you’re impatient, i will be able to hold out just a touch longer, regardless of how desperate i’m to form a affect you. As long as i do know you’re during a hurry, I’ll wait.
So twiddling my thumbs . Take the time that you simply need, don’t rush to offer in, don’t show your anxiety, stay cool and do not panic. Negotiation may be a process and a game. Use the method and play the sport . you will be astonished at the difference that it makes!
How many times have you ever heard: