Sales negotiation is the process of getting the best deal for a certain service or product, but doing so in a civil and efficient manner. While there isn't a sales negotiation book on etiquette, there are tips to follow to ensure a professional and mutually beneficial deal.
Knowing what not to do in sales negotiation room is sometimes more important than knowing what to do. Knowing not to exhibit any signs of desperation is the first step in bringing a seller's offer down. Desperation is most commonly found when a buyer shows need of the product or service, but can also be seen even through talking about how a previous deal had gone awry. In general, the buyer should talk less about his or her own life or needs, and more about the seller's.
Another common mistake of amateur negotiators lacking sales training is letting a sales negotiation run on too long. An endless negotiation is bad for several reasons, but mainly because it wastes time and can lead to resentment. Since the buyer is interested in getting the best deal, giving the buyer what they want with each demand is going to make them even more curious as to what level they can bring the negotiation down to. Don't let this happen by giving away too much value at the start, and then having to be extra firm with your counter offers.
A friendly way to get the ball rolling, even if the seller isn't aware of it, is to invite the seller to some type of social activity. Lunch, for example, is a great way to allow the buyer judge what type of person the seller really is. This aids in the ability to guess beforehand what the seller is capable of, what the seller will likely request, and how the seller will do it. This act allows the buyer to formulate counter-offers even before the sales negotiation takes place. Keep in mind the seller may be doing the same thing, and to give out relatively little information while still being friendly.
Sometimes it isn't such a bad idea to take the example of car salesmen. A car salesman will commonly resort to tactics that make an offer seem final, but keep the tone of negotiation on light terms. This is sometimes done through deferring the blame to a superior. When pressed for a lower price, stating that one's superior has only allowed for a certain price drop will let a seller remain firm, yet also keep the negotiation atmosphere on friendly terms.
Power in negotiation stems from whichever side has a strong walk-away position. Both parties usually try to stress that the other party needs them - and the one with the greatest need usually takes the undercut. Needing to close the deal on the table usually comes from having a weak second to best offer. So build up a good second option, and you'll feel the pressure lift from your shoulders. Following the above tips and staying confident will do wonders for your negotiation outcome, although professional negotiation training and reading books on the sales negotiation are almost mandatory for getting the process down to a science.
Closing Comments
The most skilled sales negotiation experts only got where they are because of experience. Don't put too much thought into what could have been, keep your eyes focused on how to improve and where you'd like to go. Read more on the subject online and through local libraries for more information on becoming a better sales negotiation artist. - 16069
Knowing what not to do in sales negotiation room is sometimes more important than knowing what to do. Knowing not to exhibit any signs of desperation is the first step in bringing a seller's offer down. Desperation is most commonly found when a buyer shows need of the product or service, but can also be seen even through talking about how a previous deal had gone awry. In general, the buyer should talk less about his or her own life or needs, and more about the seller's.
Another common mistake of amateur negotiators lacking sales training is letting a sales negotiation run on too long. An endless negotiation is bad for several reasons, but mainly because it wastes time and can lead to resentment. Since the buyer is interested in getting the best deal, giving the buyer what they want with each demand is going to make them even more curious as to what level they can bring the negotiation down to. Don't let this happen by giving away too much value at the start, and then having to be extra firm with your counter offers.
A friendly way to get the ball rolling, even if the seller isn't aware of it, is to invite the seller to some type of social activity. Lunch, for example, is a great way to allow the buyer judge what type of person the seller really is. This aids in the ability to guess beforehand what the seller is capable of, what the seller will likely request, and how the seller will do it. This act allows the buyer to formulate counter-offers even before the sales negotiation takes place. Keep in mind the seller may be doing the same thing, and to give out relatively little information while still being friendly.
Sometimes it isn't such a bad idea to take the example of car salesmen. A car salesman will commonly resort to tactics that make an offer seem final, but keep the tone of negotiation on light terms. This is sometimes done through deferring the blame to a superior. When pressed for a lower price, stating that one's superior has only allowed for a certain price drop will let a seller remain firm, yet also keep the negotiation atmosphere on friendly terms.
Power in negotiation stems from whichever side has a strong walk-away position. Both parties usually try to stress that the other party needs them - and the one with the greatest need usually takes the undercut. Needing to close the deal on the table usually comes from having a weak second to best offer. So build up a good second option, and you'll feel the pressure lift from your shoulders. Following the above tips and staying confident will do wonders for your negotiation outcome, although professional negotiation training and reading books on the sales negotiation are almost mandatory for getting the process down to a science.
Closing Comments
The most skilled sales negotiation experts only got where they are because of experience. Don't put too much thought into what could have been, keep your eyes focused on how to improve and where you'd like to go. Read more on the subject online and through local libraries for more information on becoming a better sales negotiation artist. - 16069
