4 Negotiation Techniques To Close More Sales

Sales NegotiationNegotiating with a prospect can be challenging. It takes time to learn the subtle nuances. In a recent training call with a new sales professional, it was clear that he was very good at selling, but had limited experience with the art of sales negotiation. They’re not the same thing.

This young sales representative knew many of the better sales tips and techniques, but he had trouble incorporating these when negotiating. He was frustrated. We’ve all been there!

Unlike a hard and fast sales technique or strategy, sales negotiation is like a dance where the music may change. Maybe it starts as a waltz, but it can end up in a mosh pit. It takes time to get the hang of such dramatic swings, but it can be done. As always, we want to start with the basics. Master them. Then we can move on to more advanced sales negotiation skills. In time, you’ll be able to dance to any tune, even international ones that may lack any recognizable beat or note.

Every sales person struggles in certain areas. For some negotiation is easy (even fun). For others, it’s quite a challenge. Here a few sales negotiation tips that may help you on your way:

  1. Push Back: Don’t be afraid to gently push back when a customer has demands that are beyond reasonable. In doing so, you’ll be more reputable and professional, which will reflect positively on your products and/or service, and lead to more profit and sales.
  2. Reminders:  Prospects need to be reminded of the value of your product or service to them. Buyers tend to forget that what they’re buying actually has value. They need this reminder to solidify their buying decision.
  3. Ask/Listen: By asking good questions (e.g., What do you hope this product and/or service will do for you?), you’ll get your prospect talking, and be better able to understand and identify their pain points. By listening to their perspective you can better tailor your negotiation points to address their buying triggers.
  4. Practice: This one may feel awkward, but it will reveal your weaknesses in a safe place. Grab your sales manager (or a sales friend who is more experienced than you) and sell him or her a pencil (or whatever)…they’re feedback will be invaluable.

We hope this helps, and special thanks to DH #2 for some great input.

~ DH, DH, Theo

Don't go! Tell us what you think!