…everything is agreed upon.
That’s right! In sales negotiations, you should never put anything in writing until everything is agreed upon.
This is number 12 in my list of must-have strategies for successful negotiating.
It’s not over until it’s over.
Too many negotiations wind up being a series of re-negotiations, all because too much has been put into writing too early.
One of the most effective tactics used by professional buyers and procurement departments is to get you, the salesperson, to start putting things into writing as you move through the process.
This works especially well when negotiations are complex and held over a period of time.
When you put anything in writing, this now becomes the new floor from which the other party can negotiate against.
Sharp negotiators will use this new floor to essentially open up negotiations all over again and keep pounding away on you.
Sharp negotiators also will take what you’ve put into writing and shop it to your competitors.
The customer will then use threats of going elsewhere as a tool to get you to sharpen your price even more. This is especially prevalent when what you’re selling is seen as a commodity and the customer has multiple sourcing options.
Key is to not put anything into writing, which is easier to do if you rely on face-to-face meetings, telephone calls and, if necessary, voicemail.
What you want to avoid is putting anything in to a memo, email or any other form of a written document.
Your objective is to never forget that until every point is agreed upon, every point is still negotiable and subject to change.
After you’ve reached the final point on everything, then you need to move as rapidly as possible to put it all into writing to avoid further changes.
A strategy to use is by having an email template already developed prior to going into the final phase of negotiations. This method will allow you to complete it quickly and get it back to the other party quickly.
And don’t forget to see all the tips on infographic 12.5 Critical Factors for Negotiation. For more in-depth strategies for negotiating, check out Breakthrough Sales University!
Copyright 2015, Mark Hunter “The Sales Hunter.” Sales Motivation Blog. Mark Hunter is the author of High-Profit Selling: Win the Sale Without Compromising on Price.