Let us create a 3d Digital eBook for you! DigyCat.com
|
||
|
||
|
Negotiation Information | Let us create a 3d Digital eBook for you! DigyCat.com |
|
|
|
Lets Make a Deal
Smart buyers will always ask for a better price. Unfortunately, too many sales people and business owners automatically think that reducing their price is the most effective way to respond to this request. However, negotiating is not always about price. Although price is a factor in virtually every sale it is not usually the primary or motivating factor. Everything you say and do from the first contact with a prospect affects the value of your product or service in their mind. That's why I believe it is important to look at the negotiating process differently in order to achieve better results. First of all, invest time gathering information about your prospective customer, his needs, situation, and buying motives. The more information you have the more prepared you will be to negotiate later in the sales process. Regardless of what you sell, and to whom, information will help you negotiate more effectively. Many of my clients tell me that their customers care only about price, but upon further exploration, other issues usually arise. Uncovering the key issues your customer is facing is critical to your negotiating success. The second most important step is to establish the value of your product or service to your customer. Positioning is an important factor and will affect the price your customer is willing to pay. What pain does your product or service eliminate? How does it solve a problem they are experiencing? How do your products and service differ from your competitors? Most of my clients sell premium products at a premium price. In exchange, their customers receive better than average service, faster response times, or higher quality products. What is your leverage and how can you use it to increase the value of what you sell? You have executed the above steps but price is still an issue for your customer. What do you do now? Instead of conceding to their request and giving them a discount, focus on creating a trade. This means you should ask for something in exchange for making a concession. What can you trade or ask for? Almost anything! A longer contract, a bigger order, more add-on items, an introduction to another key decision-maker in the company, access to their mailing list or client database, or payment terms. You can negotiate for products and services that the other person or company offers such as consulting, office equipment, computers, furniture, business services, etc. I once worked for an electronics company and my boss offered a big-screen as payment for services to a potential vendor. I was shocked when the vendor eagerly accepted because I always had the impression that business people focused strictly on cash. Here are a few ways you can effectively position this request. "If I could do that price for you would you be willing to extend the length of the contract for an additional three months?" "If I could work that out would you be prepared to give me advertising space?" "The only way I could give you that is if you add one more line of products." "Let's put that aside for the time being. Would you be able to give a similar amount of?in exchange for that concession?" The key here is to think outside the box and explore other options available to you. I recall speaking to a prospective client about a training workshop and was asked to make a concession that amounted to a fifteen percent discount. I was not comfortable with this so I asked my prospect if he would be willing to give me a comparable amount of his product instead. He did not have the authority to make such a decision but spoke to someone who did. My request was eventually denied so my client conceded to my initial offer. Another effective approach is to make the concession but take something away from the initial offer. For example, you could say, "I can do that. However, I will have to charge you for?" or "I can do that. Do you want free delivery or after-hours service taken out of the contract?" Most people will expect you to keep all the conditions "as is" but they will want the lower price. By demonstrating how much the concession is worth you can reduce the effectiveness of their request. Finally, another strategy is to always ask for something in return for making a concession even if you don't need it. I have been surprised how many times I have gotten something extra simply by asking. Plus, it often prevents the other person from asking for an additional concession because they know you will ask for something in return. Remember, your ultimate goal is to give away as little as possible in order to close the sale. Every time you discount your product or service you discount yourself and eat away your profits. © Copyright 2004 Kelley Robertson Kelley Robertson, President of the Robertson Training Group, is a professional speaker and trainer on sales and employee motivation. He is also the author of "Stop, Ask & Listen - Proven Sales Techniques to Turn Browsers into Buyers." Receive a FREE copy of "100 Ways to Increase Your Sales" by subscribing to his 59-Second Tip, a free weekly e-zine at http://www.KelleyRobertson.com. You can also contact Kelley at 905-633-7750.
MORE RESOURCES: Negotation Skills - Google News Money 101: How To Negotiate Anything - The Frisky (blog)
Senior Category Buyer - Supply Management
Media Planner/Buyer β $50k β $60k β Melbourne β Sydney CBD - MuMbrella
Road to The Lodge - ABC Online
Local educator attends international leadership seminar - The Free Lance-Star
Four democrats vying for Menard's Senate seat - South Coast Today
Supervisory management courses set at Warren County Community College - Warren Reporter
Top 8 Ways To Get Your Resume Thrown Out - San Francisco Chronicle
What CIOs Look for in an Enterprise Architect - Computerworld
|
 |
|
|
RELATED ARTICLES
Barter and Its Benefits What is Barter?Barter involves 2 parties. Each party wants to trade with each other and instead of exchanging cash for products or services, the exchange is carried out with products or services that each possesses. Determine Your Rate And Negotiate Carefully With Unreasonable Clients Consultants who offer executive assistant or computer services on a virtual basis must know their value and be prepared to gauge their billable rate to meet the circumstances.At some point everyone encounters potential clients who expect professional work at rates that are less than appropriate. Managing the Sales Negotiation Process How many times have you heard:"You've got to drop your price by 10% or we will have no choice but to go with your competition.""You will have to make an exception to your policy if you want our business. Business: Keys To Negotiating Well Whether it's buying a car, asking for a pay rise, saying 'no' to a friend or renting an apartment - at some stage in our lives we all are going to need to know how to negotiate. Yet, so few of us know the basic skills before embarking on life changing purchases or decisions! These 8 keys will assist you negotiate well. Negotiating Tactics: How To Strike A Negotiable Opening Shot There is no right or wrong to fire up your opening negotiation.. Negotiating Skills Will Get You Ahead Negotiating skills can help you manage lots of different kinds of life situations, both at work and in your personal relationships. Here are a few examples of where these skills can help you build an even better life for yourself:1. Negotiating Technology Contracts Have you ever tried to negotiate a deal for software, computer equipment, or consulting services with a technology company? The task can be daunting. Unfortunately, the sales forces of most IT companies are armed to the hilt with techniques to get the best deal for them, and not necessarily the best deal for you. Just Ask! Ask and you shall receive & knock and it shall be opened &send an email and see what happens.As a student of personal finance you are probably familiar with the advice to negotiate with your credit card companies to get a lower interest rate. How to Change Somebody's Mind Believe me, it's not easy! And sometimes, it doesn't work at all.But while researching my book on how to produce more memorable writing, I stumbled upon these "mind changing" ideas from multiple sources. Can a Service Be a Commodity Well Enron dealt with this a little for instance an intangible such as the available bandwidth in fiber optic lines. So what is a commodity in a service business? Well, a commodity could be considered are capacity to wash cars for a mobile car wash business like the company I own, the additionally created capacity coming from increased efficiency in studying production rates. Win-Win Power Negotiating Let's talk about win-win negotiating. Instead of trying to dominate the other person and trick him into doing things he wouldn't normally do, I believe that you should work with the other person to work out your problems and develop a solution with which both of you can win. The Art of Negotiation in 535 words I want to get better at negotiation, but where to start? UK Amazon currently has 2332 books on negotiation. Google indexed nearly 4 million relevant (yeah right) pages. How Barter Can Help Your Business Online or Offline How Barter Can Help Your BusinessBarter trade is a powerful instrument that represents a solution for companies with available stock or services. By accepting payment in trade money instead of cash, a business maximizes their efficiency by increasing stock turnover or billable hours. The Most Powerful Persuasion Skill Youll Ever Learn Criteria ElicitationThis is without a doubt the most important persuasion skill that you can learn. If you'll learn to apply this to every situation in which you find yourself you'll be amazed at the positive results! Many of the hypnotic skills I'll be sharing with you have a parallel in old sales training techniques. Guidelines for Ambassador Appointments Ambassadors to other countries are a vital part of international relations. It is not uncommon for an ambassador to be the face or image of one country to another. Lets Make a Deal Smart buyers will always ask for a better price. Unfortunately, too many sales people and business owners automatically think that reducing their price is the most effective way to respond to this request. Cross Cultural Negotiations Cross cultural negotiation is one of many specialized areas within the wider field of cross cultural communications. By taking cross cultural negotiation training, negotiators and sales personnel give themselves an advantage over competitors. The Art of Haggling Did you know that at one time in this country that there were no fixed prices on anything. You would go into a store and find an item you needed then you would begin the process of negotiating the price. Embarrassed To Discuss Your Prices? Seven Common Reasons We Cant Talk About Them Last week, a wonderfully-skilled electrician installed a new light fixture for us. He was competent, courteous and efficient. How To Make An Inflexible Bureaucrat See You As A Person Inflexible Bureaucrats Are Characterized by:1. Cares little about your happiness in life2.
|
|
NewsScape Domain Is For Sale - $3,500 For Enquiries eMail Us © www.NewsScape.biz 2010
|
|
