5 negotiation techniques you ought to know
Learn how to increase your sales by negotiating like a pro.
Negotiation techniques shouldn’t be viewed as magic tricks or as obscure tactics to deceive customers. Instead, they are ways to help you obtain the results you want by making the proposed value of the offer clear to your customer.
The business world doesn’t provide many second chances for those who don’t position themselves strategically during a negotiation. After all, competition is increasing in many segments.
Therefore, if your customers don’t see the value of the offer, they will quickly leave and choose another solution.
To prevent this from happening and have an action plan you can use, you need to seek good negotiation techniques. They are simple yet effective ideas that will help you find opportunities when you interact directly with your customers.
What is the importance of using negotiation techniques?
Opportunities may spring up anywhere, which will make the team have to double down to go after all of them. Relying on ready-to-apply techniques helps greatly in dealing with this to contribute in a positive manner to your business’ results.
In addition, sales departments are increasingly overloaded with daily demands.
Of course, such negotiation techniques are only able to provide good results if they are properly applied. But nothing substitutes a preliminary assessment regarding the advantages of your product, advantageous market opportunities, and your target audience’s specific profile.
Which negotiation techniques are more effective for your success?
We can all agree it’s high time you learned negotiation techniques that will help you improve your commercial results, right?
Read each one carefully and try to imagine how they’ll fit into your sales processes, besides making sure you’re planning your actions based on your segment’s particularities.
Below, you’ll learn 5 negotiation techniques that will make a difference in your business.
1. Demonstrate the necessity for the purchase
It’s much easier to sell a product to someone when this item is seen as a necessity.
Therefore, as one of the negotiation techniques that can be implemented in your sales process, you need to understand your potential customers’ needs.
Based on this question, it’s worth researching the profile of these people and especially, certain common details of their daily lives.
From there, you’ll naturally be able to detect advantageous opportunities to adjust your approach.
People who work all day in an office might develop back problems if they don’t sit correctly. A company that sells ergonomic cushions might boost its commercial approach if it targets its efforts to these people.
2. Take advantage of the strength of marketing
A good marketing strategy can play a key role as a negotiation technique for your business. Just get to know your target audience’s profile well and reinforce the image that your brand intends to convey to the market.
It’s with your marketing campaigns that you can make the value of your product clear, besides implementing a persuasive discourse so that your customers will want to consume it.
Many people might even reach the final step of the negotiation having already decided to buy from you thanks to a good marketing piece.
Therefore, don’t underestimate the importance of marketing in your business strategy. Set aside part of your annual budget for this purpose and invest in a team that is dedicated to cultivating advantageous opportunities for you over time.
3. Personalize your approach
A commercial approach can never be the same for your entire target audience.
Instead, one negotiation technique that can be employed to boost your results is a personalized approach. This means changing your discourse based on the characteristics of the person with whom you are talking.
If your customer has a history of perceiving your products as expensive and is always haggling, it might be worth it to offer, right off the bat, more friendly payment options.
They will notice your personalized approach and view the offer in a more positive manner, considerably increasing your chances of success.
In order to get your personalized approaches right, go back and take a look at your customers’ particularities.
It’s easier to try to build customer loyalty than to win over a new customer. So, keep an eye on this possibility.
4. Know how to make concessions
Negotiation must be a win-win for both parties. Thus, your deal will naturally have to adjust itself in order to meet what the customer needs; otherwise, this relationship will be unbalanced.
One of the most effective negotiation techniques is the capacity for making concessions.
Be open to change the terms of your offer up to the point where they are still advantageous for your business and also satisfy what your customer needs.
One way to do this is to propose the deal using its full amount. From this point, propose a reduction of the amount by a certain margin to convey to your potential customers that you are willing to please them.
5. Use mental triggers
Mental triggers are automatic brain responses that are able to trigger specific actions. Mastering it is quite advantageous for your negotiation techniques, since it represents a path to direct your potential customers’ actions towards your goals.
One example of a mental trigger is to appeal to a shortage, artificially limiting the availability of a product. Those who aren’t sure about the purchase might feel an urge to purchase it by imagining that it will run out soon.
Another mental trigger is to project your brand’s authority.
People tend to prefer conducting business with people they can respect and view as someone who understands the subject. And the best path to consolidate your authority with the help of the internet is by publishing informative content that has a high potential of being shared, such as a blog.
But these are merely two techniques that you can apply. There are many others and they are worth testing to see which one works better with your audience.
Would you like to know more about how the mind responds to stimuli, such as these techniques? Well then, check out this article on psychological triggers that will increase your sales.