3 Quick Tips to Improve Your Negotiating Skills
Balance is what you should strive for during each negotiation. Finding the right balance between profiting your company and your prospect’s best interest can be a challenge, but it’s not impossible. By the negotiation phase of the sales process, you and the prospect both have a common goal: A sale! But, you aren't at the prospect's mercy because he's buying from you. Nor does it mean that you wield all the power. As Leslie Ye writes in a Hubspot post, “If you can establish and maintain a strong position throughout the conversation, you'll be able to strike a deal that's good for both your customer and for you.”
Part of finding that strong position involves knowing what–and what not–to say. In her post, Ye shares seven things that you should avoid saying while negotiating. Below, I've shared three no-no's from her post:
“This should be pretty quick.”
While you do want the negotiation to move along smoothly, you don’t want to make the process seem hurried. Put the prospect at ease by letting him or her know that there’s no clock ticking down and there’s plenty of time for discussion.
If you offer a price range between two numbers, can you guess what will likely happen? The prospect will choose the lowest price. Why wouldn’t they? And, as Ye points out, “that the lower price ‘anchors’ your prospect's perception of your product's value.”
“What about a lower price?”
Speaking of price, Ye admits that you won’t always get the full asking price for your product or service. But, if you must lower the cost, you should be getting something in return (Signing today? A longer contract?) Plus, dropping the price should never be your first play in the negotiation. Again, safeguard the value of what you’re selling and make sure the prospect understands that value.
For more words and phrases to avoid, take a look at Ye’s entire article. Her suggestions can help you be mindful of your words and how they can impact the balance of the negotiation. So, when it's time for your next negotiation, you'll be prepared to strike the right balance and close the deal!