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negotiation.pptxSales and Sales management Chapter 3: Negotiation
Andrés Coronel
Negotiation
Negotiating is leading other’s thoughts and actions toward an agreement
Mutual discussion and arrangement of the terms of a transaction or agreement
A process used by parties in an attempt to reach agreement
Negotiation strategy
Clearly define the purpose of trading; the goal
Gather the necessary information
Motivate the other to close the deal
Choose the method of negotiation
Good negotiation
You can reflect on the following questions:
Did I close the deal?
Did I get what I expected at the beginning?
Did the other get satisfied with the deal? Will he make deals with me again?
Negotiation stages
Prepare
Information exchange and validation
Bargain
Conclude
Execute
Some advices
Always negotiate with ethics
Reject the first price
Everything is writing
Avoid concessions without immediate compensation
Create links
Take care of image
Do not make promises that you cannot keep
Put yourself in the other shoes
During negotiation
Do not argue
Don’t make the first offer
Lead the negotiation
Be eloquent
Demand respect
Do not get angry
Extend the negotiation
Listen to the other
Wait in silence
Do not be naïve
Read between lines
Do not admit cheating
At the end of negotiation
Maintain your limits
Concessions after closing
Make new contacts
Stand firm
Be kind
Analyze your data
Win-win negotiation
Make multiple offers simultaneously
Include a matching right
Try a contingent agreement
Negotiate damages upfront
Search for post-settlement settlements
Closing techniques
Prevention for objection
Narrowing choices
Emphasizing key features
Handling a third party
Getting the signature or approval
Common causes for objections
The buyer lacks trust in the company or the salesperson.
The buyer has a natural resistance to change in her purchasing habits.
The buyer does not have the required financial capacity to make the purchase.
The buyer does not need the product or service.
The buyer needs more information or fails to recognize her needs.
The buyer assigns a higher priority to the purchase of other products
Considerations for handling objections
Show a positive attitude, is normal for a prospect to have objections
Objections can be minimized providing enough information
All objections should be carefully analyzed, especially to determine if the buyer is close to buying but is deliberately delaying a decision by presenting superficial objections
Proof benefits of the product or service by demonstration, comparison and appealing the prospect’s need.
Methods for answering objections
Agree and qualify
Agree that the objection is valid
Delay the answer
Politely deny that the objection is valid
Pass up or ignore the objection
Ask questions for further information
Make the objection serve as a selling point
