The Top Negotiation Tactics Used ON You!
Sure, you’ve studied sales negotiation tactics to implement, but have you ever thought about the tactics that prospects use on you? The RAIN Group recently surveyed buyers and sellers, and they uncovered the most effective negotiation tactics used by buyers. And, overall, they found that pretty much all tactics used had at least some level of effectiveness.
Effective Negotiation By Buyers
“Buyers, it seems, may be better negotiators than some sellers think,” the report notes. But adds, “Sellers who are Top Performers in Sales Negotiation, however, are significantly better at dealing with these tactics compared to The Rest. They are more likely to gain agreement and are much more likely to win those agreements at more favorable pricing.”
RAIN Group reports that on average, a seller will face three tactics in every negotiation. Additionally, 88% of buyers report receiving price discounts because of these techniques. So, what can you do to better arm yourself against these tactics used against you? First, you have to know what the tactics are.
The Top Ten Techniques
Below are the top-ten negotiation tactics ranked by effectiveness:
- Use seller eagerness to get a deal done to wring out final concessions
- “We need a better price”
- “Meet us in the middle” (even though the middle might not be fair)
- Share a low budget up front to set the stage for bargaining to start at a low price
- Require sellers to negotiate in very tight time frames
- “A competitor will accept this if you don’t”
- Unbundle the solution but want to keep the same price
- Limit seller access to decision makers
- React emotionally to the price they give us
- Wear sellers down with requests and delays
Rain Group goes on to explain what they call, “6 Essential Rules of Sales Negotiation.” These essentials will safeguard you against giving in too much to buyers’ own negotiation tactics. Each of the six is thoroughly explained (and backed up by RAIN’s own research). They also include suggestions on how to respond to keep the prospect happy without caving. As the report explains, “In real-time negotiations, anxiety grabs ahold of many sellers and they don’t say or do the right thing…If you do practice and learn, you’ll succeed much more often, even in the face of very effective tactics sellers use on buyers.”