When you’re in sales, your negotiation skills are your number one weapon. They determine whether or not you seal the deal and are immensely important for the success of your career. If you have intermediate negotiation skills, you can’t expect to get very far. This is why it’s crucial that you learn how to improve and sharpen those skills.
But, what are the steps of the negotiating process that you should work on? And, which skills should you sharpen to make yourself a successful negotiator and sales professional? If you’re not sure you’ve got the answer but would like to learn, we’ve got you covered.
Keep reading to learn about the 6 ways to sharpen your sales negotiation skills...
Aim For The Highest Goals
The number one step in any successful negotiation process is for the salesperson to have confidence and clearly defined goals.
Without self-confidence, your whole negotiation process will be on shaky legs and you’re most likely not going to hit the right buttons.
So, before you start negotiating, you need to:
- set your goals high
- clearly define what you want to gain from the deal
- decide on how far are you ready to go with concessions
It’s important that you take enough time to prepare and stand in front of your prospect with clarity and confidence. This will ensure you’ve got control over the negotiation and you’re guiding the process.
Go Straight to The Person in Charge
Although it’s logical that you should only talk to the person in charge of making the decision, it often happens that salespeople don’t recognize the right prospect immediately.
This leads to a lot of time wasted and probably not even sealing the deal.
So, before you start negotiating, make sure you know exactly who you’re talking to and what their powers within their company are. Make sure this person:
- is in charge of making the decisions
- is in charge of suggesting, declining, and accepting the deal
- has the final say in the sales and negotiation process
This way, you’ll know you’re investing your time and energy into the right negotiation, and you’ll have the best chance to close the sale.
Once the actual negotiation process is about the start, you should always let the prospect speak first. This will give you the opportunity to see where they stand and allow you to add the last adjustments to your presentation.
Make sure you’re listening closely and pay attention to:
- their goals and desires
- their actual problems
- their expectations
- their fears
A true negotiator will listen to what the prospect has to say and draw their own conclusions on the situation.
For example, a prospect might ask for a cheaper solution but what they actually need is a better solution that will bring them more value. You can learn how new Artificial Intelligence is helping sales reps identify how to accurately predict sales buying behavior in seconds here: Watch the sales webinar
Listening skills are extremely important and you need to work on them to become a better negotiator.
Preset The Prospect’s Problems
One of the essential steps in the negotiation process is letting the prospect know you understand exactly what they need.
This step is what seals most deals and what brings success to sales negotiators. Here’s what you need to do:
- listen to what the prospect has to say
- define their main problems and needs
- analyze their situation
- offer them a solution they require
By helping the prospects define their problems and learn more about their needs, you’re building a steady relationship with them. They’ll feel like they can trust you, and you’ll be a step closer to sealing the deal.
Work on your listening and comprehension skills to be able to present the situation as it is.
Present The Value of The Solution
Once the problems have been defined, it’s time for you to present the solutions. But, it’s not enough for you to just point out at your offers and expect the prospect to pay for them.
What you have to do is to present the true value of the solution that you’re offering.
By understanding how far the solution goes, the customer will be more willing to pay for it. You should cover the following points:
- the cost of investment and the solution
- the value it will bring them
- the return of investment they can expect
- their functioning once the solution is applied and the problem is solved
Make sure they know exactly what to expect and help them imagine how they’ll operate once the solution is applied.
This will give them the extra push they need to say yes.
Get Something Out of Every Concession
In the process of sales negotiation, you must always keep control over the situation. If the other party starts feeling like you're letting them take control, you're doomed.
This is why you need to find the best way to agree to a concession but not let control slip your hands.
Here’s what you should do:
- if you want to agree to a concession, make sure you ask for something in return
- let the customer know you all have to give something, to get something
- show them you’re still in control and you’re only meeting them halfway
This way, the customer will learn that you’re still in control but you’ve decided to address their needs.
This will make you trustworthy and reliable in their eyes, and you’ll able to seal a deal that’s a win-win.
The negotiation process is delicate and full of twists. A true sales professional knows when to let the other party speak and when to take control of the situation. You need to sharpen your skills to get the most out of every deal and keep your prospects satisfied.
The list above provides 6 steps in the negotiation process that you need to learn how to apply successfully. Work on improving these skills and you’ll be sealing more deals than ever.
Author’s bio. Daniela McVicker is a blogger and a freelance writer who works closely with B2B and B2C businesses providing blog writing, copywriting and ghostwriting services. Currently, she blogs for TopWritersReview. When Daniela isn’t writing, she loves to travel, read romance and science fiction, and try new wines.