7 Quick tactics to improve your negotiating……
Mutually beneficial contracts tend to emerge when the negotiating process is cooperative, rather than competitive. The idea is to come up with a win-win scenario, where both companies feel happy with the result.
Unfortunately, many sales reps get themselves into a situation where the customer holds all the cards. The sales rep has, after all, invested a great deal of time in the opportunity, and may have made commitments to his manager that the sale will go through. Under the circumstances, it’s not surprising that many customers feel that they can simply dictate terms.
Returning the relationship to the level where a win-win outcome is possible requires the sales rep to continually accumulate a counter-balancing “negotiating power” throughout the sales cycle. Here are seven strategies for making sure that you have the “negotiating power” to build a win/win deal… right when you need it most.
- Strategy #1: Eliminate or thwart competitive threats. Convince the customer that your product or service is the only one that can adequately fulfill the customer’s needs.
- Strategy #2. Developed at least three contacts inside the customer firm. Developed at least three contacts that can provide perspective to your solution-building process and information about the motivations and politics inside the customer’s firm.
- Strategy #3. Show the customer your ability to see beyond the obvious. Your status as an “outsider” to the customer’s firm gives you the potential ability to see problems and opportunities more objectively. Remember: even the customer doesn’t know everything about the firm, much less the market.
- Strategy #4. Created the legitimacy that comes from consistency. Consistency comes from remaining well aware of the strengths and the limitations of your offerings. Legitimacy comes from adhering to your firm’s policies and procedures, and being willing to explain why they make sense.
- Strategy #5. Position all interactions in terms of building mutual success. A productive relationship is based upon mutual respect and understanding, and a sense of working together to achieve mutual goals. Ideally, a customer should always know you’re committed to mutual success rather than merely making a sale.
- Strategy #6. Generate a solution that truly matches the customer’s needs. Your value to the customer skyrockets when you help the customer to crystallize needs and visualize the right solution.
- Strategy #7: Differentiate yourself from other sales reps. You must be able to communicate clearly how you, as an individual, are a unique resource to the customer. This is a combination of all of the above, plus your ability to use your own personality to your advantage.
- Prosell offers a program that combines sales training and sales coaching. It is based on recognised research, which tells us that training alone has limited impact and that when supported by skilful coaching, has 74% more chance of being implemented.
- Prosell has resources to deliver these programs across Australia, covering Sydney, Melbourne, Brisbane, Perth, Adelaide and Canberra.