When you work in sales, you already know that negotiation is essential for any deal. Any entry-level salespeople can tell you this. But how do you go about finding that sweet spot of give and take?
Negotiating in a sale requires communication skills, and that means paying attention. Listening skills, emotional intelligence, and of course being prepared for what they may ask for are keys to your success.
Here are a few steps we put together to think through and apply to your own business practices.
Do your research. Know what you want before you go in. Have a keen awareness of what they want, and be laser-focused on what you are willing to give them. Highlight where the deficit is for them, and why they need your services. Be prepared for their objections and have solutions to answer them.
The ability to manage your own emotions as well as constructively react to, and manage the emotions of others is necessary to be an effective negotiator. Stay constructive when faced with negative or even erratic emotions, and maintain a response that builds an alignment with your plan and objectives.
There has to be a limit. Negotiating is a give and take. Be careful, because if you are too willing to drop your price, you tell your customers that this is what you do. They will always expect concessions. Stand your ground, and always know you may have to walk away, or else you have already lost.
Preparation is the greatest asset to a negotiation success. Know what you want and what you are willing to give. Keep listening and be aware of what they are asking for and ultimately, what they need.
Use a plan and your negotiating skills to get both sides successfully where they want to go, and make the sale.
Looking for more discussion about sales and negotiations? Check out our Sales Training Services here.
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