This has become even more true in the current market conditions – where savvy buyers and decision makers are looking to get the best value when they’re purchasing. But why is it that the buyer or decision maker often has the upper hand when it comes to negotiation?
1. They’re better prepared to negotiate
Most salespeople get negotiated with before they’re ready. So if you think that a meeting or phone call could result in a negotiation, make sure you prepare for it beforehand! If a negotiation starts before you’re ready, don’t be afraid to postpone it and re-schedule it for another time when you’ve had chance to prepare.
2. You’re too desperate
Prospects and clients can smell desperation and it certainly isn’t attractive! Once a client knows the salesperson is more desperate to do the deal than they are, that’s just given them the green light to get the best deal they can – at the expense of the salesperson.
3. You fail to spot their tricks
Any buyer or decision maker worth their salt will attempt to play tricks during a negotiation. If you can learn how the buyers and decision makers are tricking you into losing profit, then learn how to deal with them, then you’re fine. Fail to identify them however, and you could continue to struggle.
4. You don’t know enough about the other party
Another reason salespeople often come off worst in a negotiation is that they fail to find out enough about the other party before the negotiation starts. Often there are pressing issues, or demands on the buyer or decision maker’s time – which would force them to do a quick deal – but the salesperson fails to find that out! Therefore, they end up the keener party to do the deal – and often miss out on vital profit that could have been gained had they bothered to find out more in the first place!
5. They have more skills than you
Think for a moment: when was the last time you went (or sent a member of your team) on a professional negotiation skills course, lasting from between one and three days in total? Possibly never!
Think about the other side: If they’re a professional buyer, you can guarantee that they will have been on such a course. If they’re a decision maker in a business, they’re also likely to have been on a similar course. At the very least, they’re far more experienced at negotiation than you!
Follow the tips above and watch your sales soar!
Andy Preston is the UK’s leading authority in sales training and business sales techniques and works internationally for businesses in America, South Africa and throughout Europe.
Share this story