Situational Negotiation Skills For Salespeople

What do you do when one of your best customers has been hunting around for a better price? The customer makes it clear to you that they see no difference between your product and a much cheaper competitor. You’re told that they all look the same. Sound familiar...      

How do you handle a situation like that? What do you do? What are the sales negotiation skills you should employ? Should you drop your price to win?    NO!

Sales negotiation Skills #1: Leverage- Never negotiate without it

You need more negotiating “leverage” and POWER....Right?    
First, recognize that this is a ploy. The customer is deliberately trying to undermine your position. Don’t Worry. Just following these simple Steps!
Start off by understanding the awesome power of “Perception”. Then you can create an infinite amount of power out of thin air. The first skill towards getting all the power back is to realize that all negotiation is – is just a game of PERCEPTION.

Sales Negotiation Skills #2: Recognise that successful sales Negotiation is all about PERCEPTION

       Who holds the high ground in negotiation?       
The customer? The person with the best product, cheapest price, the best value product or the best relationship with the customer???     
         NO! ALL WRONG     
In negotiation the person who THINKS they have all the power has all the power. Therefore if you think you have 'no power' or let the customer convince you into believing that you have 'no power'. Guess what you have 'no power'.     

Sales negotiation Skills #3: The person who THINKS they have all the POWER has all the POWER

Let's just repeat that again becuase it's so important;
           "The person who THINKS they have all the power has all the POWER ".
Take the power back. Start believing you've all the power. The customer will then start to believe that you've all the power.
         By doing this you become master of a very powerful 'psychological' game. It's like playing a game of 'poker' but a lot more fun....
This is because all negotiation really is – is a game of managing perception and expectations. Mastering the invisible forces is such an important skill to successful selling but very rarely talked about by 'Old' School Sales Trainers.      
For completeness, let's just look at what not to do?      
It's a deadly sin in sales to come across as over keen to make a deal. You'll look a little needy. The customer will sense this and use it against you at the negotiation table. They will perceive you as weak.

Sales negotiation skills #4: Never be too keen to make the deal

You've inadvertently sent out signals saying you are weak. They'll then feel that the balance of power lies with them as you have communicated that you need them more than they need you.
In this instance it should come as no surprise when the customer demands a big discount. The sad thing is you will probably feel obligated into giving a large discount because you've let the customer con you into believing you hold a weak position. The Customer has actually outsold you, but you’re the sales professional. Don’t fall prey!
           Take your 'power' back today learn to master the 'invisible forces'...

Sales negotiation skills #5: Master the "Invisible" Forces