Negotiation is an attempted trade-off between getting what you want and getting along with people. Negotiation has become a significant part of business deals. Everything has become “negotiable” as sellers maintain their profits and clients know their abilities to negotiate. Applying negotiation skills is very important in the 21st century especially as we have to deal with more complexity and lesser resources in the ever-competitive business world.
Let’s look at when sales people need to use their negotiation skills. Excellent sales people use the selling phase to lay ground rules, to understand the prospect’s requirements and for helping them make good decisions. If a prospect seriously desires to do business, it’s only then that the sales people begin to negotiate with them.
If sales people want to negotiate, they should have:
- Interpersonal skills, the right attitude, and the right approach to negotiation.
- An understanding of the negotiation process and key strategies
You as a sales professional can get sales, maintain margins and keep clients coming back for more if you can demonstrate negotiation skills. A few tips for building effective negotiating skills:
- Be bold when achieving goals and know when to accept the other person’s opinions and values.
- Be aware that communication with the client is a very important skill and maintaining an on-going relationship with them fetches good returns for the business.
- Be aware of targets and adopt the most suitable style to achieve a deal.
- Try and ensure that the needs from both sides are met – the results of your negotiation must be long-lasting.
- Skillful listening, the right posture, good eye contact, appeasing facial expressions and right questioning techniques are all very important while negotiating.
- Be assertive but keep an open mind.
- Share the right information and don’t lie or exaggerate. It is counter-productive eventually.
- Develop acceptance and trust with clients.
- Understand the market and where the maximum sales take place.
- Understand competitive strategies and acquire negotiation skills for pricing.
- Always try to be well-informed about the customer to understand him better.
- Remember that the most important quality is convincing the customer and maintaining a cordial relationship in the long run.
To conclude, every sales person must be aware of negotiating skills because they play a crucial role in every aspect of the selling process.