Sales negotiations are sometimes a source of stress for salespeople. The thought that you are close to closing a deal only to have a prospect ask, “Can I think about that?” is frustrating.
You can make it easier for your sales team to close deals by upgrading their skills through training to bring in more revenue for your business.
Let’s look at the top five negotiation skills your representatives should have to successfully negotiate a deal.
Appeal to decision makers
Many salespeople make the mistake of negotiating with a prospect only to find that they are not the final decision maker. This mistake results in a delay in closing the deal because the prospect needs to seek advice from someone else. telemarketing data This situation can even result in the loss of the sale to a competitor who has managed to get through to the real decision maker.
When a salesperson fails to identify the right decision maker from the start, they may find themselves in a difficult situation. Why? For example, during a discussion, the representative discussed prices and agreed to give a discount. Later, the decision maker enters the negotiation with this discount in mind and asks for an additional discount.
Mistakes like these can cause your profits to drop, so it pays for your reps to have the skills to identify the decision maker in the company from the start.
Through negotiation workshops, your sales team can learn to identify who makes the final decision by asking the right questions.
Listening during negotiations
Effective sales managers know to actively listen during negotiations.
Representatives are often tempted, dating data especially when discussing price, to immediately give a discount to a potential client in the hopes of closing the deal.
For example, a prospect may want to negotiate better payment terms. However, before the prospect can ask about the price, the representative offers a discount. The prospect will likely accept the discount and continue to negotiate for further concessions.
Your sales representatives must be considered self-promotion centric master the art of active listening to the customer.
When they listen more, they better understand the needs of the potential buyer. They can also find opportunities to increase sales through:
- Additional sales;
- Cross-selling;
- Word of mouth through a potential client.
By listening to potential customers, your company representatives can learn about other alternatives that are worthy of their consideration. Your representatives can then show the prospect how and why your products or services better meet their company’s needs than your competitor’s products or services.
A great way for sales reps to master the art of active listening is through role-playing training. In these sessions, reps can learn to:
- Ask open-ended questions;
- Provide opportunities for the prospect to respond by actively listening;
- Pause to make sure the prospect has nothing more to add;
- Summarize what the prospect has said to ensure the representative understands his or her needs.
When your team members are armed with these skills, you’ll be able to close more deals.
Providing value to the customer
Salespeople can learn what needs a prospect wants to meet by listening carefully during a conversation. They can then tailor their presentation to show how your product or service can meet those needs.
It is beneficial for a representative to know and understand the features of your product because they can easily show the potential customer how well your product can meet their needs. So make sure you have the time to train your representatives on the features of the product and keep them updated with updates.
Secure your first sentence
During a discussion, it is especially important to know how to make the first offer.
Remember that when you make your first offer to a potential client, you are creating a psychological “anchor”.
Research shows that most people instinctively fixate on the first offer and the number it represents. As such, the first offer is likely to become the benchmark during price negotiations. That’s why it’s important for reps to make sure their offer is well thought out before making it.