5 Things You Should Never Say in a Negotiation
Negotiation is a sensitive exercise in careful control. As a sales rep, you straddle the space between helping your prospect discover a solution that works for them, and protecting your organization’s interests.
When you’ve come to the negotiation period of the sales procedure, you and your prospect have a typical objective: getting your organization’s product into their hands. It’s a joint exertion, and you ought to be working with your buyer — not battling with them — to achieve a perfect solution.
This doesn’t mean you’re at your prospects’ mercy. Transaction isn’t a fight, however you can in any case win. In the event that you can establish and keep up a strong position all through the discussion, you’ll have the capacity to strike a deal that is useful for both your client and for you.
By definition, a negotiation is multipleparties conversing with one another — so be cautious of what you say.Here are some helpful tips to do it yourself or you can always contact a local strategic management consulting firms in your area to help you with negotiation. Make sure you dodge the accompanying hazardous words and phrases to increase your chances of a fruitful outcome.
On the off chance that you give your prospect a value range from $13,000 to $16,000, guess what’s going to happen? They’re going to request $13,000. Also that the lower value “grapples” your prospect’s view of your products value. They may have beforehand thought $16,000 was a decent cost, however when you say $13,000, the higher number will appear to be luxurious.
2) “What about a lower cost?”
You’re not continually going to have the capacity to offer your product at the maximum price, and that is alright — with one major caveat. On the off chance that you offer a price cut, verify you’re receiving something in return. Will they sign today? Will they commit on a more extended contract?
Remember that offering a discount ought to never be your first play. Your product is priced the way it is for a reason, so don’t dismiss its value in your desire to accomplish the deal. Is there another lesser concession you can make that will urge the prospect to sign? Exhaust all other accessible freebies before you drop the cost. Purchasers liken sign, so on the off chance that you slice the price tagprematurely; you may unwittingly depreciate your product in their eyes.
3) “Let’s work out the details later.”
They say the fallen angel’s in the details for a reason. You wouldn’t hire a builder to construct you a house without signing a statement of work. Correspondingly, you shouldn’t consent to a price without seeing precisely what your prospect anticipates that you will provide.
4) “I really need to get this done.”
Possibly it’s the latest day of the month and you require this one last deal to make your quota. We’ve all been there.
Yet, in the event that you openly admit that you have to close this deal not tomorrow, not one week from now, but rather today? Your prospect will have you on the proverbial ropes.
Revealing that you’re under pressure to close the sale means your prospect doesn’t need to concede as much as they may have otherwise. They may additionally attempt to sneak in a couple of audacious inquires. After all, in the event that they realize that you’re desperate to get a contract inked by midnight, is there any good reason why they shouldn’t push you to bring down your price or offer extended services for nothing?
This isn’t to say that communicating desperation is always a terrible thing. Case in point, the prospect may have discussed a drop-dead date that they have to have a solution set up by. Working in reverse from that date and accounting for installation and training, the sales representative can pinpoint the perfect contract sign date. Also, if that day is today, time to turn up the heat.
5) “I have the final say.”
It may appear like a decent strategy to position yourself as the ultimate approver to demonstrate your strength; however it’s not — regardless of the fact that you are.
You don’t need the contradicting negotiators to realize that you are an official decision maker, just on the off chance that you get cornered as the discussion develops.
Keeping your approval power gives you an out on the off chance that you require one, and that can be significant in high-stakes deals.
Now and again, you’ll have to time to step back from the negotiation to review the deal before you, particularly in the event that you’ve officially made a few concessions. Are these terms really adequate to you and your organization? Advising your buyer that you have to run new requests by another stakeholder gives you the time you need to settle on an intentional and educated choice.
For More sales strategies, speak to a MindStorm sales trainer at 1–844-MINDSTORM (1–844–646–3786) www.mind-storm.com. 1