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How many times have you heard: * 'You've got to drop your price by 10% or we will have no choice but to go with your competition.' * 'You will have to make an exception to your policy if you want our business.' * 'I know that you have good quality and service, but so do your competitors. Could you include them at no additional cost?' Every time you hear statements like these, you're in the middle of a difficult sales negotiation. In order to give you a real edge every time, I have listed below some key points taken from my sales negotiation training program. The hidden face is that of a negotiator probing and seeking out information that may be invaluable later should issues like price, terms, quality, delivery, etc. Article: How many times have you heard: * 'You've got to drop your price by 10% or we will have no best but to go with your competition.' * 'You will have to make an exception to your policy if you want our business.' * 'I know that you have good quality and service, but so do your competitors. What we need to focus on here is your pricing.' * 'I stand together that those special services you keep bringing up would be nice, but we simply don't have the funds to purchase them. Could you include them at no cumulative cost?' Every time you hear statements like these, you're in the middle of a difficult sales negotiation. How you handle that negotiation will determine whether or not you bar the sale and how profitable that sale will be. In order to give you a real edge every time, I have listed infernally some key points taken from my sales negotiation training program. Don't hold Everything You See and Hear Part of a good salesperson's skill is to learn to read people and situations very quickly. However, when it gets down to negotiating, you have to take everything you see and hear with a grain of salt. Buyers are good negotiators, and thus they are good actors. You may be the only person who has what she needs, but everything she does and says, from body language to the words she uses, will be designed to lead you to credit that unless she gets an extra 10% off, she's going with the competition. Be skeptical. Be suspicious. Test, probe, and see what happens. Don't Offer Your pluck Line Early in the Negotiation How many times have you been asked to 'give me your best price'? Have you ever given your best price only to discover that the consumer still wanted more? You have to play the game. It's expected. If you could drop your price by 10%, start out with 0%, or 2%, or 4%. Leave yourself room to negotiate some more. Who knows - you may get it for a 2% reduction. You might have to go all the way to 10%, but often you won't. A little stubbornness pays big dividends. Get Something in Return for Your Value What if you discover that the consumer wants to be able to track his expenditures for your products or services in a way that is far more detailed and complex than is standard for your industry? What if your rate tracking system is set up in a way that you can provide that information at essentially no cost to you? Often the salesperson's overwhelming temptation is to jump in and say, 'Oh, we can do that. That's no problem.' early you do, however, think as for your options. You could throw it in as part of the package and try to enlarge good will. Or you could take a deep second and try something like, 'That's a difficult problem that will require some effort on our part, but it's doable.' In the second case, without committing, you've told the customer it is possible. You may not be able to get him to pay extra for it but you may be able to use it as a negotiation chip in resisting price concessions. Which way you have designs on to go will depend on who your customer is and on the situation. However, you do have options. Sell and Negotiate Simultaneously Think of selling and negotiating as two sides of the same coin. Sometimes one side is face up, and sometimes the other side, but they are rapidly both there. This is particularly true in your earliest contacts with the buyer. The face the customer sees is that of a salesperson demonstrating features and benefits. The hidden face is that of a negotiator probing and seeking out information that may be invaluable later should issues like price, terms, quality, delivery, etc. have to be negotiated. Be Patient Finally, and most important, be patient. Sales is a high energy, fast moving business. Patience is one special that is in relatively short supply, but if you're impatient in a negotiation, you'll lose your shirt. If I'm negotiating with you and I know that you're impatient, I will hold out just a little longer, no matter how desperate I am to make a deal with you. As long as I know you're in a hurry, I'll wait. So be patient. Take the time that you need, don't rush to give in, don't show your anxiety, stay cool and don't panic. Negotiation is a process and a game. Use the process and play the game. You'll be beguiled at the difference that it makes! (c) Michael Schatzki - 2004. All rights reserved.
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More Articles:1. Top 10 Ways to Sell your Product or Service While you Sleep - Part 1 By Judy Cullins Summary: When I first started writing and sending articles, I sought out a book-publishing site whose ezine circulated to over 29,000-targeted people. Start with a list of 12 Web sites and send one article under 800 words to them once a week. Take a nap while the sales roll in. 5.'' Run a search to find targeted Web sites.. Find the top ten Web sites in your field by using these search engines: www.altavista.com or www.Google.cArticle: Have … 2. Surge of Holiday Online sales Summary: For those of us who use our cars in going to the shopping malls, imagine how hard it is to find a parking spot during the crowded holiday season! Fortunately in the highly developed countries where online shopping exist and people can afford computers and internet services, the hassle of holiday shopping is a bit minimized. If the cuckoo clock in that store is still available, she buys the clock and waits in a very long line taking so mu… 3. How to Give Your Customers a Choice Between You and the Competition and Have Them Choose You By Michelle Dunn Summary: Instead of giving your customers or potential customers a choice between you and your competition and having them choose the other guy, have them choose you.Michelle Dunn's new book' Become the Squeaky Wheel,' says creating a credit policy can have surprising results.According to Dunn, a leader in the debt collection industry, some customers, when given the choice, between signing a credit application or paying at the time of sale, most… 4. My Competitor Has a Better Product By Shamus Brown Summary: We act as the agent, representing our company in the trade, representing our company in the exchange of value for value. As sales reps, we offer significant value to our prospective customers. By asking good questions up-front (a topic for another newsletter), you may uncover something that your competitor missed, giving you a chance to change the rules of the sale set early on by your competitor's getting there first. If your product … |