Every meeting, including business meetings, involves negotiation. Each party seeks to maximize its benefits from the interaction while (hopefully) striving to find a compromise that meets the needs of both sides. Would you like to improve your negotiating skills? Here are five key tips.
Strive to find the most feasible solution for both parties
Negotiation should not be perceived as a tug-of-war or confrontation. Instead, approach the situation as a joint effort to find a solution that is most advantageous for both parties.
Do not give a discount for free
According to the HubSpot company blog, salespeople often grant discounts and various benefits even before the prospect gives an opinion on the official pricelist. Not only do you deprive yourself of your earnings, but even worse, you degrade the value of your product in the eyes of the prospect as you obviously don't hold a high opinion about it yourself.
If possible, meet on a neutral ground
If your meeting is at their office, you're providing them with an advantage. Try to have the meeting in your own workplace, or on neutral ground.
Don't waste energy unnecessarily on people who are not decision makers
It's only worth it dealing with people who have the relevant authority to make the decision. Don't lower your price or talk about adjusting your offer if you're not dealing with a decision maker.
When making a concession, ask for a concession from the other person too
If you are forced to step back from your demands (for instance the price), don't do it just because the client wants you to. You both need each other, and a concession by one party should be balanced by one on the other side as well. This is why you should require a customer to reciprocate.
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