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Customers are people too. Just like salespeople, they usually care about doing their job and being successful. They love to buy, but generally do not like to be sold. This is most apparent in the negotiation between buyers and sellers. Over the years I have seen some great interactions and some that just flat out kill the relationship and inevitably kill the deals.
Here are 9 things that you should never do:
1. Forget to understand the buyer’s perspective.
2. Think that Negotiation Starts at the End of the Sales Cycle.
3. Confuse the position they take with what they actually care about.
4. Talk too much. Listening too little.
The cheapest concession in a negotiation is to let the other party know you are listening. Pay close attention to what has been said, repeat it, and use the knowledge to explore his interests, and deflect him from his position.
5. Squeeze every last drop of blood from a deal.
6. Negotiate On Your Own.
7. Use Price as a Compelling Event.
8. Agree to a Price before you Establish
9. Try to Close the Deal Too Early (or Too Late)
Timing is important when closing a deal.
Poor negotiators rush to the end-line or delay unnecessarily, afraid of failure.
Both approaches produce bad results.
Closing before the buyer is ready is pushy, and damages the relationship.
Delaying allows time for other competitors to enter the fray or new projects to take precedence.
Great negotiators understand the how, when and where.
They bring everything they need to the negotiation table in order to cement the deal, and they can isolate and agree a complete list of outstanding points of conflict, and resolve them one at a time
When both parties are rigid and not listening to each other, no agreement could be reached and deal will be killed
Thanks
Great answer given by Mr. Maher, nothing to add
When you dont emphasize on win win situation/terms.
agree 100% with Mr. Kelly
but i want to add one more thing
not accepting the customer objection, with shortage of alternatives that make the deal proceed.
you should have alternatives for any objection, that will make the deal win win for both side.
but unfortunately many firms now are not flexible and lose many deals because of that
Thanks for invitation,
Agree with the answer of Mr. Md. Fazlur.
Concentrate on the real decision maker.
Don't prolong the negotiations and ask the right questions.
Know your limits, so you can know how much low or high you can go
Get as much information as you can a bout your offer and the counter offers.
Be ready to change your offer quickly.
