How about learning some good sales negotiation techniques to increase sales and make 2023 a special year for your company?
So, make an effort to see far beyond the price. After all, it was like that for a long time.
We are so used to seeing the tag and making the payment that we even forget that, throughout most of human history, what happened was the gathering of people in traditional markets to exchange items.
And there was no set price for the goods: the amount paid was always determined through some negotiation techniques.
Today, even with the price, the art of negotiation is still present in our daily lives, even if in a different way and context.
However, anyone who thinks that this process involves only someone interested in selling , someone interested in buying , period is wrong .
In fact, trade negotiations bring together a number of other variables that influence the definition of an agreement that is beneficial to both.
With this in mind, in this article we have selected 11 negotiation techniques for you to start applying right now and obtain greater gains from them.
Come on?
Negotiation techniques and strategies in sales
1. Plan the sales process
One thing is certain: the more information you have at your disposal, the greater the chances that the negotiation techniques will be successful.
Therefore, if you want to conduct the negotiation in a way that the expected result is achieved, you need to take the time to get to know both you and the client or the company you are dealing with better.
A good starting point is to organize and understand your own sales cycle .
Let’s assume that you offer a service or that you want to hire for your company.
We know that B2B (Business-to-Business) sales have a more complex and consultative sales cycle than a negotiation aimed at the end consumer, like someone negotiating the price of a TV, for example.
It is important to be aware of each of the stages of this cycle, as well as its limitations and the possibilities of concession that you can offer to gain an advantage when it comes to your approach.
In addition to internal knowledge, it is also important to understand the other end of this process, its objectives, needs and other factors that will allow you to know which arguments will work or not for the negotiation.
2. Choose the most appropriate trading technique
It is vital to know which negotiation techniques to use in different situations.
For example, if you want to enter into a long-term partnership, perhaps the best option is to adopt a collaborative negotiation, in which both parties win.
Thus, you are able to retain the customer and keep the agreement active for a long time.
In the case of isolated transactions, a more manipulative tactic is generally used.
In it, the negotiator tries to take advantage of the client.
The bad thing is that this type of tactic can be bluffed and diminish the credibility of the negotiator.
Regardless of which technique you choose, it must be kept in mind that many negotiations fail due to the bureaucracy involved in the process, causing delays in customer service and negatively impacting the negotiation.
Therefore, it is necessary to optimize this process and prevent the competition from gaining preference.
Using technology to your advantage can be a way to speed up the service and give greater credibility to the negotiation.
How about investing in an electronic signature system? It may already be a start to reduce the delay in closing the deal.
3. Value your service
If you don’t value your service, you can bet that your client won’t value you either.
A good tactic to make the customer see value in what you are offering is not to pass the price of your service first with the discounts.
In fact, this is the time to use these concessions to your advantage – the same concessions you made there in your planning, remember?
Ideally, you start trading by charging more and offering less.
And no, you will not drive your customer away by doing this.
On the contrary, this tactic serves to make your client feel that he is gaining something more when you start making the concessions already established.
But be aware of the company’s limitations.
Concessions must be a benefit applied to influence the closing of the agreement.
If done repeatedly and without planning, they can compromise the company’s budget.
In addition to increasing the value of your service in the eyes of the customer, the tactic serves to show your flexibility for negotiations, which, in the end, weighs heavily on the customer’s choice.
4. Show what the other party is gaining in the negotiation
The goal of negotiation techniques is not just to get what you want, but also to help the other side get what it wants, right?
Otherwise, how are you going to come to terms?
To do this, you have to leave your ego behind.
You really need to know what your customer wants – which means you have to listen and make them feel like the final deal is their idea.
In most situations, price is not the only bet on the table. Your customer may appreciate a longer delivery schedule, for example.
The important thing is to always be honest, honest and show clearly what the other party is gaining in the negotiation.
5. Be confident
No matter how much you need to close the deal, showing your despair to the customer has no positive effect in any case.
In fact, this ends up transferring the power of negotiation to the customer’s hands, or worse, making them lose interest and look for another company or service.
What you need to do is give your customers a good reason to believe you.
In other words, you need to build your credibility.
It is common at the beginning of the negotiation that your client has some defense shield or is skeptical about your business.
In fact, one of the thoughts that will be going through your head is precisely this: why should I listen to this person?
Therefore, it is necessary to be confident and have confidence in what you are saying to avoid this loss of power in the negotiation and encourage the client to make the right decision.
6. Be calm and be patient
One of the most important negotiation techniques is to be calm and have patience throughout the process.
The tactic is valid, mainly, for those who are starting and don’t have much experience in negotiating.
That’s because it helps to avoid unnecessary stress and create that atmosphere of tension between you and the customer, who may think you are trying to deceive him or something.
In addition, first-timers may be tempted to give in to the emotions or excitement of the first offer, which ends up affecting the negotiation and, consequently, the satisfaction of those involved.
As attractive as the offer may seem, it is important to always present a counter offer.
This makes the process more dynamic and creates a more conducive climate for closing an agreement.
7. Be prepared to work around objections
It is something that happens in most negotiations: the client has a moment of hesitation and starts to consider whether his solution will really be effective for him.
Of course, each customer can have their subjective objections, but it is ideal that, through your market experience, you identify which ones are the most common and be prepared to work around them when they bring you to the field.
For example, if the customer hesitates about the price, claiming that your product or service is expensive, you can have the answer on the tip of your tongue and say that, despite the price, you offer easier payment terms.
On the other hand, even if you are used to some objections, it is necessary to reinforce the importance of listening to what the client has to say.
This ends up strengthening the relationship and leading the negotiation to a satisfactory outcome for both.
8. Use mental triggers
Doing business does not mean that you need to manipulate or hypnotize your client to take the action you want.
In fact, what you need is to give them what they want – simple as that.
Therefore, one of the keys to success in any negotiation is to have a minimum understanding of the psychology and behavior of your interlocutor.
We, as human beings, essentially have several mental triggers , be they social, emotional or instinctive, that impel us to take certain actions.
So, to influence your client to close the deal, you need to know what these triggers are and how to use them when making your arguments.
Whether you want to or not, the purchase decision is something rational, that is, it is our mind that decides what to buy.
So, as long as you understand how your client’s mind works, you have the power to influence the decisions they make.
A social mental trigger widely used in negotiations is reciprocity.
Basically, it works like this: if you give your customer something he considers valuable, like some concession or discount that he will not find in the competition, he will be encouraged to give something back.
This “something”, in this case, can be the closing of the agreement, for example, or anything else that you deem worthwhile.
The reason this works is because we tend to be psychologically uncomfortable when we feel we owe someone something.
But remember that this does not work in all cases. Even if you make good concessions, some people may still have no feeling that they owe you any debt.
On the other hand, you cannot be a conditional donor, that is, you should not always give with the expectation of getting something back.
Help your potential customers, even if you notice that it will not positively influence the negotiation.
You have nothing to lose. On the contrary, it can even improve your reputation in your niche (which, in turn, will increase sales).
9. Create a sense of urgency
Like mental triggers, a sense of urgency is one of the psychological tactics that can and should be used in negotiations.
Basically, in the business context, creating a sense of urgency refers to communicating to your client, making him feel that it is necessary to act promptly, decisively and without delay.
So, as the negotiation extends, you need to encourage that sense of urgency in the customer.
It doesn’t matter what you’re selling: it’s worth reminding people of what might happen if they don’t order now or how your solution will solve their problems right away.
Usually, the sense of urgency is also related to the notion of scarcity. That is, the fear of losing or running out of things makes people take action faster.
For example, you can offer a discount or bonus for a limited period of time, say, a 50% discount that ends in 72 hours.
The fact that the discount is only valid for a short period of time, creates this notion of scarcity in the customer’s head, increases the sense of urgency and ends up influencing the customer to close the deal.
10. Save an asset for last
This tactic goes hand in hand with the one we mentioned above, of always valuing your service.
So always have a card up your sleeve to get the deal concluded.
And when we talk about a letter in the sleeve, we’re not talking about cheating, cheating or anything like that.
This great asset can simply be a bonus already planned in advance, when planning your sales process.
And it doesn’t have to be expensive. A small gift can already have a big impact on trading.
This is often an infallible tactic, because it makes the customer feel special and that bonus is being offered only to him.
In other words, again, you are making the client leave with the feeling that he also won in the negotiation.
11. Review all points
To close the negotiation process, it is extremely important that all points are reviewed between the two parties, even if no final agreement is reached in the first contact.
This is because, if the negotiation is very long, as in the case of the B2B market, it is possible that doubts remain or some important points are lost along the way.
So recapping the stitches is essential to not leave loose ends behind.
Another important point, the end of any meeting is the ideal time for you to make yourself available to the client for future meetings and increase your credibility.
Even, if it is the case of a longer negotiation, it is good tone to leave the next scheduled meeting and be confirming with everyone involved.
After all, it is always better to sign agreements in the presence of both parties for more transparency.
E-mails or meeting minutes should be distributed to everyone so that they have a clear and equal picture of what is happening.
Conclusion
At the end of the reading, we can see that it is crucial that the negotiator has the ability to keep his emotions under control when putting into practice negotiation techniques.
While the process can be frustrating, allowing emotions to take control during the meeting can lead to unfavorable results.
In addition, negotiation planning plays a very important role.
It is there that you know your numbers, determine goals , identify the terms and concessions that you are willing to accept and, finally, the value of what you are receiving.
If necessary, it is still valid for negotiators to study the history of the relationship between the two parties and also the previous negotiations.
It may be the key to finding areas of agreement and common goals.
Past results can set the tone for current negotiations
So, ready to leave your negotiations feeling that you have closed the best deal?
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