How are your negotiation techniques?

#Top Tip 1

What to think about before negotiating?

If you are thinking about negotiating/discounting your service or product to a client; the reasons should be for the value of working with this client.

After discounting from your full/standard prices with a client, it may be difficult to increase the price in future sales.

The value questions you should consider are: will you receive repeat business? Is this sale a large volume? Is this sale of high value?

Does this client have an internal network/referral base that will give you further business?

#Top Tip 2

Only negotiate in person/video conference…

Face to face with a client during negotiations will benefit you instead of negotiation over phone, email, etc.

In person, you can read the expressions and body language reactions of a client.

Read the buying signals (93% is nonverbal communication) from the client e.g., the questions they ask you about your service/product.

Use your judgement to decide when to stop the negotiation and close the sale. It is also easier to have a proposal/deal signed when you’re sitting next to the client.

#Top Tip 3

Close quickly with less options!

During the negotiation stages close the sale soon, if the client has too long to think about proceeding with the purchase, they are more likely to not proceed or want to renegotiate further.

Clients will take longer deciding if you provide them with too many options; when pitching and negotiating only provide 1 or 2 options to the client to increase the chances of a sale within a shorter timeframe.