CS28310CS28310

NegotiationsNegotiations

NegotiationsNegotiations

Maximise revenue for companyMaximise revenue for company– B2B practiceB2B practice

More than price involvedMore than price involved– Other parameters involvedOther parameters involved

Two sided eventTwo sided event– Customer/supplierCustomer/supplier

Win-win situationsWin-win situations– Both customer and supplier gain from Both customer and supplier gain from

relationshiprelationship

Prior to negotiationsPrior to negotiations

Begin negotiations Begin negotiations afterafter you’ve fully you’ve fully presented your propositionpresented your proposition

Understand the objections raised up to this Understand the objections raised up to this point in the sales process point in the sales process

Identify your customer’s Identify your customer’s motivationmotivation behind behind these objectionsthese objections

Describe to the customer how your product Describe to the customer how your product or service will be used by themor service will be used by them

Quantify what value they’ll receive they’ll receive

Is the person your negotiating with the right Is the person your negotiating with the right person?person?

Adopt the right negotiating Adopt the right negotiating attitudeattitude……– Be confident in the value your product or Be confident in the value your product or

service will returnservice will return– Be patient, gain trustBe patient, gain trust– Work towards a true win/win solutionWork towards a true win/win solution– Have a set of limit criteria and be prepared to Have a set of limit criteria and be prepared to

walk awaywalk away

During negotiationsDuring negotiations

Use open-ended questions to confirm your Use open-ended questions to confirm your understanding of their needsunderstanding of their needs

Confirm accuracy of your stated benefitsConfirm accuracy of your stated benefits Be prepared for tactical responses from Be prepared for tactical responses from

customercustomer Don’t react - respond with more questionsDon’t react - respond with more questions listenlisten

During negotiationsDuring negotiations

Use silence to your advantageUse silence to your advantage Negotiate change of delivery times, follow Negotiate change of delivery times, follow

up, service period, training etcup, service period, training etc Seek to identify agreement on Seek to identify agreement on smallsmall items items

to help develop momentum to the to help develop momentum to the negotiation…negotiation…

Summarise periodicallySummarise periodically– Use notesUse notes– Re-iterate small itemsRe-iterate small items

You get agreementYou get agreement

Summarise verbally and then in writingin Summarise verbally and then in writingin writing the agreement writing the agreement

Thank the customer for their time Thank the customer for their time Reinforce the purchase decisionReinforce the purchase decision Reflect on the negotiation for next timeReflect on the negotiation for next time

You get a “NO”You get a “NO”

Thank the customer for their time and Thank the customer for their time and commitment to the negationscommitment to the negations

Give the customer an opening to come back Give the customer an opening to come back your company in the futureyour company in the future

Reflect on the points that seemed to prevent Reflect on the points that seemed to prevent the negotiation from moving forward... the negotiation from moving forward... study them... know them... use themstudy them... know them... use them