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Sell Smarter 13: Smarter Negotiations

by | 3 minute read

Watch this episode at: https://youtu.be/QTVeo6onrgI

SCRIPT:

Hello there, I’m Doug LESSELLS.  WELCOME to the Sell Smarter podcast from SalesFuel!  We’re taking your sales to the NEXT LEVEL every month with our top tips and WINNING STRATEGIES so you can re-ENergize and en-GAGE in just three short minutes.

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Segment 1: Sharpen Your Negotiation Skills

No matter how much value your product or service will bring, prospects may still want to negotiate on price. Here are a few of Business 2 Community’s Joel Goldstein’s suggestions for honing your negotiation skills.

***“Identify the Decision Maker*** It’s difficult to negotiate properly if you aren’t dealing with a decision maker. Ask the prospect if anyone else will be be involved in the buying decision. Find out early in the sales process to avoid wasted time.

***Discuss Starting Price*** Make sure the prospect is aware of the price before entering the negotiation stage. That way, your prospect won’t assume your product’s price is lower than it actually is and you’re not wasting time on anyone who is uncomfortable with the initial price. ***Discuss Discounts with Management*** Before negotiations begin, know if your company is willing to come down on cost. If so, be clear about how much. Don’t promise the prospect something that you can’t deliver.******************

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SalesFuel Smart Tip:

The simple key is to know your high, know your low, know your terms and conditions, and be willing to stand your ground. Standing your ground is not easy because it often involves other people trying to tell you to get off your ground.” – Jeffrey Gitomer, King of Sales/Gitomer Learning Academy

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Segment 2: Creative Price Comparisons

Thanks to the prevalence of discounting, most reps will encounter price objections. But, just because your competitors are slashing prices doesn’t mean you should. HubSpot’s Aja Frost has some responses for handling price objections:

***”Too Expensive Compared to What?”*** Chances are, the prospect may not have a specific example in mind. If they do, this allows you to directly compare your service’s value to the competitor.

***”How Much Will it Cost You to Do Nothing?”*** This encourages the prospect to break down their reasoning, which allows you the chance to identify (and address) specific concerns.

***”Let’s Explore Creative Strategies for Fitting This into Your Budget.”***If it’s a funding issue, consider a workaround such as unbundling or billing in stages. This can save the sale and showcase your flexibility without compromising on cost.

Having these ready for the inevitable price objection can mean the difference between cutting costs and closing the deal as-is.**************

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That’s it for THIS edition of the Sell Smarter podcast. Remember, you can always get MORE great insights every day at SalesFuel.com and the SalesFuel MOBILE app.********************************************************

Audrey Strong

Audrey Strong

Director of Communications at SalesFuel
Audrey Strong heads all external and internal communications for SalesFuel, including public relations - which she has directed since 2014. Prior to SalesFuel, she founded her own public relations firm and served years as an award-winning journalist in television news. Audrey earned her degree in broadcast journalism from Ohio University.
Audrey Strong

@tallmediamaven

Public Relations Professional & Former TV newser. Golf addict, gardening guru and pet lover. Crusader for PR done right. #PR
@seelee Great idea!! Richard never lets me drive the cart. - 5 days ago
Audrey Strong