It is important to reassure the customer that he is in good hands and enjoy the benefits he will enjoy after registration. Show them all the testimonials you have from your other customers, especially if it`s a well-known company. The seller`s task is to find the specific set of products and services that most effectively increases value for the customer without sacrificing the seller`s profit. For example, an automotive supplier strengthened its research and development capabilities and gave customers the choice of conducting their own research and development in-house or outsourcing it to the parts supplier. With this option, the supplier was able to steer the negotiations away from price and towards value creation in the product development process. Sales and margins have improved significantly. Surprisingly, adaptation and compromise are also not the answers. Often, a 10% discount makes a trivial difference in commission, so the seller quickly admits it. But in addition to significantly reducing your company`s margin, this type of simple adjustment encourages the customer to expect something for nothing in future negotiations. Follow this up with a regular call to key milestones to keep them updated on progress and again after receiving delivery.
Check that they have received exactly what was agreed and on time. Be there to answer any questions once the customer starts using the product, and perhaps offer to demonstrate it in their workplace. Once the order is signed, this is your chance to prove that you can balance your words with action. Exceeding expectations through a professional approach to delivery and after-sales service can help build a lucrative, long-term customer relationship. Consider a different scenario. You have been negotiating with someone for months. They have a few final concessions that you`ve picked up on – they`re expensive, but they`re worth making when they`re going to close the deal. Looking at the finish line, you make the concessions, and the other side replies, „It`s great. I appreciate your flexibility in these areas. Let me share this with my boss to see what she thinks.
Unfortunately, you had no idea that your counterpart had a boss – you thought he was the final decision-maker. The negotiations are clearly not over yet and you have nothing more to give. Now that you`ve learned the basics of collaborative negotiation, it`s time to learn more about the actual conduct of negotiations. You`ll look at what you need to do before you prepare, what you`ll do to have a positive environment, and what you`ll do next to make sure the deal progresses. This lack of coordination can doom the agreement to failure, even if the negotiations have been successful. A man I knew – the CEO of a company that sells software to pharmacies – always insisted on absolute openness in all customer affairs. He started the negotiations by showing customers his price list and saying, „This is our standard price list. But since you are a large chain, we offer you a discount. He broke the ice with a concession that no one had asked for and had his watch cleaned almost every time. Sometimes negotiations stagnate because one or both parties are reluctant to put their best offer on the table. If this is the case, you can suggest hiring a neutral and trusted third party.
In private meetings with the third party, each party could disclose its final result; The third party could then tell you if there is a possible agreement area or ZOPA. If not, it`s probably time to move on. If so, you should be able to quickly identify a transaction, with or without the help of the advisor. The best response to aggressive but important customers is a kind of assertive pacifism. Refuse to fight, but refuse to let the customer take advantage of you. Don`t give in, don`t counter. Duck, dodge, parade, but resist. Never close a door; Keep opening new ones. Try to draw the customer into a creative partnership where you both work together on inventive solutions that haven`t been offered to any of your competitors. Once the negotiations are complete and the order is signed, be sure to continue your professional approach by guiding the client through the next steps – the so-called consolidation.
Don`t forget to thank them for their business before moving on. Closing the Deal: The following seven trading strategies can help you overcome these obstacles to closing a business transaction. The same principle applies to any negotiation where there is a risk that things will not go perfectly. If you expect delays or disruptions from you, let your colleagues know. This way, you can determine how they interpret a negative event in case an event occurs and make sure they don`t overweight its significance. You`ll have a much harder time influencing their perceptions or regaining their trust after something went wrong that they didn`t expect. In negotiations of all kinds, the sooner you can move the cost discussion to your counterpart and focus on the value you bring to the table, the more likely you are to be able to monetize that value. .