Sales Negotiation Skills – Tips to NOT Lose Money

Sales NegotiationSales negotiation skills must be practiced every step of the way during the sales process. How many times have you opened by asking a potential client a question only to realize that it didn’t come out right?  Or worse – you ask a “lazy” question such as “Did you get the price quote?”  Customer – “Yes, it’s very expensive.” You think you’re being savvy by responding with “How much are you looking to spend?”  or “What were your price expectations?” You’ve jumped right on the price wagon! These sales techniques are costing you money.

When you ask these types of questions stop and listen to what’s rolling around in your head. If you’re like many sales people it may be ideas like “is this sales call a waste of time, or can they even afford what I am selling. Is this worth the effort.” We’ve all felt, thought, and said stupid things during sales negotiations. We need to get off this path as quickly as possible.

Instead, let’s avoid the price and work to have a conversation with the customer. We need to dig deeper rather than assume they can’t afford it. The reality is that you may be negotiating with a worthy sales adversary trying to devalue your product to get you to lower the price. Instead of lazy questions, provide value and ask probing questions. Tell your potential client something like “many of my customers have initially felt that way, but after understanding (provide value here) how the product can benefit them they see the  price is quite reasonable.

Develop these types of sales skills and suddenly you’re on the right path. Now you can probe deeper. For example, ask what they will be using the product for? Once you’ve gathered this vital information you can then make an informed value statement – “This product sounds perfect for your needs – don’t you think?” In short, take the time to ask the right questions and you will close more sales!

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