Tips for negotiating with your clients like a pro and closing a winning deal
As a freelancer, you dictate how much you charge for your services. But, sometimes, negotiating higher fees can be difficult, especially in a globalized world where your competition is willing to accept a lower price for their services.
However, don't fret because all is not lost. There are some things you can do to help you negotiate for higher fees from your clients. Here are a few tips to help you get started.
General Tips When Negotiating With Clients
Do your research
Before you start negotiating, it is essential to do your research. Know what the going rate is for your services. This step will help you know what to expect in terms of compensation.
Be flexible but set reasonable boundaries.
Once you know what you should be paid, it is important to stand your ground. If a client tries to lowball you, be firm in your request for a higher fee. Remember, you are the expert here. You know what your services are worth.
However, it is important to remember that it is a negotiation and that sometimes, you should expect some compromises. If a client is unhappy with your initial fee proposal, be willing to negotiate.
Perhaps you can offer a discount for a certain number of work hours. Or you can even offer to do a certain amount of work for free to prove your worth to the client. Being flexible shows that you are willing to work with the client to find a mutually beneficial solution.
Be prepared to walk away.
If a client is unwilling to pay what you are worth and is unreasonable, be prepared to walk away from the project.
Walking away and dropping the negotiation can be difficult, especially if you are already invested in the work. But it is important to remember that your time is also valuable. Be paid for what your time is worth — never let an unreasonable client tell you otherwise.
Persuasion Techniques To Help You Negotiate Better
Be likable
It's much easier to negotiate with someone if they like you. So put on a friendly face and build rapport with the person you're trying to convince.
Maybe you can even give them a genuine compliment to brighten up their day. You'll be surprised at how much smoother your negotiation will be.
Listen and appeal to their self-interest.
People are more likely to be persuaded by an argument that appeals to their self-interest. So, when negotiating with your client, emphasize how it will benefit them personally.
Always frame your proposals to highlight the benefits your client will get from using your service.
Leverage anchoring bias
Anchoring bias occurs when people rely too heavily on the first piece of information they receive when making decisions.
When negotiating, you can use this bias to your advantage by providing your client with an initial offer higher than your target. Using this trick will give you room to negotiate while ensuring you get the best possible deal.
Give them special offers.
A weird phenomenon happens when you receive gifts from other people. Most of the time, you'll be compelled to agree with them in return for their gift. This phenomenon is labeled in sales as the principle of reciprocity.
So, to take advantage of this principle, you can give special offers to your customers to make them feel obliged to comply with your offer when negotiating with them.
Final Thoughts
If you're looking to up your negotiation game, following these tips will help you get started on the right foot.
Remember that the key to any successful negotiation is effective communication. By being clear and concise in your communication with your clients, you'll be able to set the tone for the entire negotiation.
From there, it's all about being prepared. Know your client's needs and wants, as well as your own, and be ready to make concessions.
Finally, always be willing to walk away from the negotiation table. If you're not getting what you want, there's no shame in ending the negotiation altogether.
