Foxleigh’s Top Tips For Sales Negotiations
Hot tips for salespeople negotiating sales. Irrelevant for 99% of salespeople, to learn why, read on!
The people who want my help are always senior executives because 99% of salespeople don’t need help – they close deals and have been doing so for years.
The challenge is that 99.9/100 contracts are closed. When asked, the team got the best deal possible.
And because that is the belief of salespeople it is true to them.
It is executives who look at their deals and know they could have done better so seek an expert to find areas to improve.
That is when they call me.
So this post is for you – the executives who have salespeople who say they get the best deals but know there is more to achieve.
My hot tips for sales negotiations start during the sales process, because the way you sell, affects the deal you do.
Positioning is the most important thing you need to establish, get that right, everything else is easy
1. Remember your buyer REALLY wants to do a good job and get rewarded and recognised by their leadership team.
This is important and requires deep thought.
If your sales process is designed to make a buyer look bad in the face of their colleagues. Would they agree to those terms?
NO!
But that is exactly what happens with deal terms
A list of demands, pricing and terms, that are non-negotiable are sent.
A customer who is rewarded for discounts cannot get one. Really? How will they feel about that?
Instead structure an agreement that has space for your buyer to look good.
It doesn’t have to be discounts, certainly not large discounts, but it is essential that there is a way you can allow your buyer to demonstrate they have done a wonderful job in securing your product or services.
Build a process that makes them look AWESOME.
2. Make them work hard for concessions.
Success comes from the relative amount of effort required to achieve it.
Taking time to assemble an intricate model plane and paint it is complex, difficult, delicate work and creates a strong sense of pride when finished
Be prepared to say no to requests for better terms and pricing, force buyers to increase the tension and take time over an agreement.
A 2% discount that is fought for over several meetings is WAAAY more valuable and prideful than a 20% discount secured immediately.
3. Debate their claims.
The strongest position will always succeed in deals. Salespeople are too quick to please buyers and concede on buyer claims and arguments.
They concede positions on things like market trends. These are key statements that affect pricing and need to be defended and challenged.
Do not just accept what buyers say – I heard this week a buyer say it is a deflationary period with graphical data to “prove” it – I literally laughed out loud!
Agreeing with them means prices will fall and they simply cannot.
Want my expert eye over your sales & pricing communication strategy – get in touch?