NEGOTIATING IN SALES: 3 STRATEGIES TO CLOSE THE DEAL

Negotiation is that one skill that can be so hard to learn, but once you do – it changes everything. 

The ability to persuade, influence, and build trusted relationships can make the difference between closing a deal and losing it. 

But although charisma has a lot to do with negotiating, there are a lot of strategies you can learn that go beyond personality. 

Like anything sales-related, good communication and preparation are the top things to always keep in mind. You can still be charismatic and lack good communication skills. You can still have the gift of the gab and never be prepared for your client calls.

So here are 3 tangible ways you can close your next deal:

BUILD RAPPORT before trying to pitch and negotiate

Ever been sold to on a whim by someone you’ve never met? It’s annoying, right? 

Don’t be that person either.

Strong relationships don’t just apply to those clients you’ve already sold to, it applies to those potential clients that you’d like to sell to. I know you want to speed up the process, and I know it would be far easier to hit targets if selling was as easy as cold calling and ending it with a sale – but unfortunately, it doesn’t always work like that.

Although it might take time to build rapport, you’re far more likely to be able to persuade someone you know than someone you don’t, because you’ll know:

• Their personality

• Their goals

• Their challenges

• Their current situation

• Other competitors they’ve considered/ bought from in the past

And guess what? Even if you still make that cold call, finding even just a fraction of this out before you go into selling will up your chances of securing a sale (or a second call) by miles.

By establishing trust and creating a connection with prospective clients, you lay the groundwork for a mutually beneficial agreement. But when you go straight into selling, it can come across as a selfish pursuit.

You want to make money, of course, but you also want the people who purchase your product/ service to truly need and value it. That’s when you make an impact, and that’s when they come back to you in the future.

ALWAYS PREPARE before the call and anticipate objections

“Wing it” is a phrase I come across too often in the sales industry. 

Whether it’s salespeople in interviews or even in an important client meeting, many people assume the pressure of thinking on the spot will magically make everything work out. 

But don’t get me wrong, it certainly can work because sales is so unpredictable, you’re always going to have to think on the spot regardless of how much you prepare, but don’t underestimate the power of preparing – especially when you’re planning to negotiate.

Before going on a sales call, research your prospect and their business. Understand their pain points, challenges, and goals. 

The knowledge will give you the power to position your product/ service as a valuable solution, not just a lucky guess as to whether they’d need it. 

And of course, anticipate objections and prepare persuasive counterarguments to address any potential roadblocks, but this is something you’ll naturally develop in your sales career.

LISTEN ACTIVELY TO THE PROSPECT

As a salesperson, you’re probably a good communicator, but one thing that will stop you from being a great communicator that sets you apart is if you’re a bad listener.

Communicating is more than talking, communicating is about understanding your prospect, and understanding your prospect will make negotiating all the more easy.

You might think you have your sales approach down pat. You know your product inside and out and you know the benefits of each aspect. 

But what happens when someone doesn’t fit the ideal mould? What happens if the call drifts from what you had prepared? 

And a sidenote: this will probably happen more likely than not.

Sales is about knowing each and every possible component and benefit of your product/ service and being able to adapt the way you pitch to suit each and every component benefit to who you’re speaking to… but you’ll only be able to perfect this by slowing down and listening.

Truly understanding your prospect's perspective allows you to tailor your approach and offer personalised solutions. 

• Ask open-ended questions 

• Actively listen to their responses

• Show empathy by acknowledging their concerns

This won’t just make the call smoother on your end, but you create a win-win situation where people start to see what’s in it for them.

So when negotiation comes around, you can collate everything they’ve said and use your service as a solution to their problems. Sales solves a problem, and if you don’t know what each potential client’s problem is, you’ll get stuck very fast.

- Written by Shannon Matthews

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