How should Salespeople negotiate?
Any sales people would feel excited when they will be sending a copy of a contract to the prospect until they hear the prospect gone and say…
“May I have a copy of the contract before I sign the deal?”
Knowing that you have gone all through the sales process and education of the product, your prospect might still not be 100% ready to commit a deal with you. This can be dreadful because it may haywire the whole process in just an instant.
But with a salesperson who has the negotiation skill in their pocket, nothing can go wrong. We will be showing you some examples that your salespeople might get the grasp on.
Scoping the Concessions
How should Salespeople negotiate? Knowing how far you can give the discount is far better that giving a range. Also, it can help you think what kind of contract between you and your prospect can get for both win-win situations. This can prevent you from regretting any signed contract and ending up breaking it.
Let them speak first
Since you are the provider, you have to know the sentiments of your consumers. This will let you tailor some service you might want to include or exclude based from what range of needs your prospect have. Listen to their needs, and provide a solution for both sides.
Never give a range
How should Salespeople negotiate? Who would want a 15% discount if you can offer 20%? Or may 30%? Same as giving the price range, it’s like your letting your prospect go for the lowest amount they can pay while you all do the work. Be specific in giving a price with any client you may encounter.
Avoid emphasizing the difference
How should Salespeople negotiate? Just like I said in giving a range of price, avoid giving or emphasizing the difference of price. According to sales expert Art Sobczak, offering to split the difference can do more harm than good. For example, if the product or service costs $100 and the prospect wants a 50% discount, the salesperson shouldn’t counter with $75 although it seems logical to do so. If the salesperson offers a slight discount but still keeps the number in the neighborhood of the original price, the prospect will likely accept, and the margin takes less of a hit.
Negotiation is the weapon of any smart sales people. Doing it right can lead to more sales being closed.