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Sales Negotiation Tips: Negotiate like a Leader to anyone to anything By, Mr. Mihir Shah (India's Top Rated Award Winning Sales Trainer)
Sales negotiations are the most important part of closing the sale deal. A Sales negotiation process can either make the Sale deal successful or a failure. Sales negotiations are not supposed to be taken lightly. There are a lot of things that a salesperson has to work upon before negotiating. To improve on your Sales negotiation skills you can also attend Sales training programs.
Know When to Walk Away There is a reason this tip is listed first. As a salesman, you need to be open to walking away from the Sale deal. It is fine to act as if you don’t want to sell your product. In the process of Sales training, you will be taught how to behave and act as a salesman. So the walking away process does not have to be abrupt and rude. From the Sales training program, you will know how to master the art of Walking away.
Build Some value
Your buyer will only buy your product if he gets values from it. In the selling process, there is a very important step called building brand value. Now the same way while you are negotiating for your product you have to build value for your Product, your organization, etc.
Lead The Negotiation It is your product, your organization, your selling time, so you should be the leader. The main rule of Negotiation is not letting the buyer lead the negotiation. When buyers lead the negotiation, you will end up selling the product at the rate the buyer wants to buy it. Remember this always, “the person who leads gets his final rate�.
Play with Emotions Emotions are a vital element in the selling process. Sale negotiations can be won or lost with the overflow of emotions. When a buyer gets emotionally attached to your product, he will rarely even want to negotiate. For e.g., in the image above, the buyer feels so proud of buying the car. The salesman of the automobile company would have added some emotional touch to his selling script. That emotional touch changes the mindset of the buyer. All the buyer is thinking about is how the vehicle will change his lifestyle.
Don’t let the buyer bully you Buyers can be bullies sometimes. Especially if you are a new salesman, they take advantage and bully you for your lack of experience. You need to work on your personality development skills to be more confident. Sales negotiations need to be done by a confident salesman.
Plan to Win Before the negotiation process starts you need to set a plan. Your plan for the negotiation shouldn’t be to settle down on a good enough price but your plan should be to win. By winning I mean your plan should be to sell the product at your targeted price. If your plan itself is not strong about winning then you have already lost the Negotiation battle. If your plan is to win then the customer has no chance to bully you.
Reading The Buyer
As soon as the buyer walks into your organization, you need to notice their actions. Buyer understanding comes from reading the buyer. It is a skill to read what your buyer wants and it only comes with experience. Once you read the buyer, you can judge whether he is a good negotiator or you can get your price easily from him. If you notice a confused and distorted look on the buyer’s face then he is the perfect catch for the fishnet.
Wait For The Opening Stance One thing to remember while negotiating is that you never give your expected price out first. Always let the buyer give his price first and then you should count on that. Don’t be in a hurry to put your price out first. There are times when the buyer might offer more than your target price.
Hurry Spoils The Curry Be patient all throughout your sales negotiation process. If you show the buyer you are in a hurry then there are chances that he will take advantage of the situation. Wait for the complete Sales negotiation process to end and only then confirm your price. Push your Sales negotiation as close to your target price and make the buyer impatient.
ABOUT - MIHIR SHAH Mr. Mihir Shah is a Top Rated Leadership Trainer based in India, USA, & Dubai offers Leadership Training Programs to small & medium-sized business. He has vast experience working in Pharmaceutical, Real Estate, Retail, Automobile industries. Mihir has served more than 400+ Worldwide Clients. To know more about Mihir Shah visit at https://themihirshah.com
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