Below is my quick checklist you or anyone else can use to negotiate successfully.
I’ve shared this same list with thousands of salespeople over the years.
Does it work? Yes!
Based on the feedback I’ve received from numerous people and the success they’ve had in both B2B and B2C, the list definitely works!
Here are 10 Steps to a Successful Negotiation:
1. Be confident. If you’re not confident from the start, there is little chance you will be successful.
2. Know what the customer wants. Don’t assume. You must know specifically what they’re looking for.
3. Know why they’re looking to you for what want. If they don’t value what you have, there is little possibility you will be able to negotiate a deal.
4. Know their timeline for making a decision. Closer you are to their need to make a decision, the more anxious they will be to secure a deal.
5. Make sure you are dealing with the person who can make a decision. Never negotiate with anyone other than the decision maker
6. Know what the customer values and why. The bigger your list of things the customer values, the more points of leverage you can use.
7. Know what the customer doesn’t value. Nothing will destroy you more than offering the customer something they don’t value. Chances are they will still take it, but don’t think for a moment you’ll be any closer to securing a deal.
8. Know what you can give that the customer will value, but that won’t cost you much. Key is to offer the customer things they will place a high value on but cost you little.
9. Know your element of time with regard to how slow or fast you can go. Time is a far more important factor in negotiating than most people realize.
10. Know your walk-away point and how you intend to do it if you do need to walk away.
The above 10 steps to a successful negotiation are within your reach. Begin today to refine your negotiation skills so that you are consistently setting yourself up to succeed.
For more insights on negotiation, check out my free ebook 12.5 Critical Factors for Negotiation.
Copyright 2014, Mark Hunter “The Sales Hunter.” Sales Motivation Blog. Mark Hunter is the author of High-Profit Selling: Win the Sale Without Compromising on Price.
3 Responses
Thanks, super reminder of some of the basic stuff – great way to start my day! Merci
Great content Mark, thank you for sharing.
Every single one of these steps I apply on my daily sales, at first 12 points look intimidating but after practicing (A LOT) they just come natural, I believe that is the magic of sales. Thank you for the back to basics momento I had reading this article.
Hugs,
Cris Urzua.
http://www.crisurzua.com
http://www.podcast.crisurzua.com
Great list Mark, if you have all the information listed, you have the stronger negotiation position. So how does one acquire such information? The quickest way is to ask effective questions that expose all the above. This does not happen with presentations, brochures, product benefits or your company story… this is about them, not you….