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
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
The 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
The 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 know 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 12.5 Critical Factors for Negotiation.
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This post originally appeared on The Sales Hunter Blog.