Negotiation in Sales

Invest in your negotiating skills Entering a sales negotiation as an untrained seller facing a trained buyer is a recipe for disaster. Make sales negotiation training part of your business plan. Attend a seminar. Read a book. Team with a mentor. Empower yourself to be the best negotiator you can be.

I recommend:  Determine which skills need sharpening by taking a negotiation skills assessment test from S.A.B. Negotiation Enterprises, which offers sales negotiation seminars taught by former Harvard instructors. Attend training seminars from reputable organizations, such as the American Management Association.

Be prepared to walk away As the seller, your primary goal in the negotiation process should be to create a positive, long-term relationship with your customer while establishing a price and set of conditions that fit within your business needs. Negotiating a low price — just to make a sale — sets a precedent that may be difficult to follow. Before stepping into the negotiating process, know your bottom line, and be prepared to walk away if the sale isn't advantageous to you and your company.

I recommend:  Establish your sales negotiation strategy using software such as Insight for Sales Strategies. Check out various pricing methods to determine what to charge for your products and services.

Ask, don't tell Asking questions can be one of your strongest negotiating tools. Instead of trying to tell a prospect why you think he or she should purchase your product or service, ask questions to find out what their needs are and then show how your company can provide solutions for those needs.

I recommend:  Ask open-ended questions, closed-ended questions and leading questions to discover what your customer needs. Learn the best questions you can ask a buyer in Sales101's Sales Questions software package or take a free peek at the top open-ended questions from JustSell.com.

Negotiating begins at 'no' Objections are a normal part of any sales negotiation. It's a good idea to anticipate obstacles you may encounter and how you'll respond to them, but you can't possibly anticipate every possible objection. Learn to use objections as an opportunity to learn more about your customer's needs and what solutions you can bring to the table.

I recommend:  Learn how to handle objections during negotiations by attending seminars from Sales Training America.

Personality counts Successful negotiations sometimes depend on personality. If you can assess your prospect's personality type, you can use the most effective techniques to show them why your service or product is right for them. For instance, if a buyer is skeptical, you may want to back up your claims with documented facts and successful case histories; if a buyer is social, you may want to emphasize the popularity of what you're offering.

I recommend:  Arcadian Software offers an e-learning course that covers a variety of negotiation techniques, including how to play to a buyer's personality.