11 Sales Techniques That Will Help You Negotiate Better Deals With Clients
Sales are the most essential part of any business - no sale, no business. Unfortunately, it can be tough to close a deal. After all, you're trying to convince someone to part with their hard-earned money - and that's not always easy. To convince customers to reach out from their pocket and give you their money, think of sales as a form of negotiation. Many salespeople, even veteran ones, make the mistake of being seemingly too pushy -- negotiating desperately will never yield great results because unfortunately, human nature tends to look down on desperation. Think about chasing someone - you don't get what you want by showing desperation. The same applies to prospective customers when negotiating with them.
Successful salespeople think of sales, or negotiation, as a process rather than a single event, which reduces our tendency to become desperate for a sale. In fact, it almost always takes a series of natural conversations to win the hearts and minds of prospective clients. During the entire sales process, you are essentially battling with prospective clients psychologically - negotiation is a tool to help win these series of psychological battles. After all, no matter how good your product or service may be, you won't be able to make any sales unless you can convince potential clients to agree to your terms.
Fortunately, there are a number of tried-and-true sales and negotiation techniques that can help you close better deals with clients. In this article, we'll share 11 of the most effective sales techniques that will help you get the best possible terms for your business.
1. Build rapport with your client.
You want to establish trust and rapport with your client before beginning negotiations. This can be accomplished in a number of ways, such as:
Being punctual for meetings & deadlines
Using the client’s preferred communication methods (phone calls, emails, etc.)
Listening to the client’s needs and concerns
Showing genuine interest in the client’s business goals and objectives
Establishing yourself as an expert in your field through your knowledge and experience
In other words, building rapport is another way of saying building trust with your clients. If a client doesn't like or trust you, you will never get the sale no matter how good your product is. Humans work in irrational ways. We don't just buy something for its practical uses - we only make a decision to purchase something because of the way information was presented to us before the purchase.
Never focus on the end result in sales - focus on developing a good relationship first and getting prospective clients to like you as a person.
2. Prioritize your client's needs.
If you've been working with your client for some time, chances are good that you know what issues they struggle with most. If a pending project or plan is something that could influence their decision to move forward on your proposal in a positive way, make those items key talking points during negotiations.
Not every client's main concern is about money. When building rapport with your prospects, ask thoughtful questions to obtain vital information about their pain points and concerns. Never ask for a sale too quickly - your goal should be to genuinely resolve problems your customers may have as a salesperson or consultant.
3. Understand your client's decision-making process.
The ability to understand and influence your client's decision-making process is critical to successful selling. By understanding the steps your client takes to reach a decision, you can more effectively tailor your sales pitch and close the deal.
There are a few different models of the decision-making process, but a basic framework includes the following steps:
step 1: Problem recognition
step 2: Information search
step 3: Evaluation of alternatives
step 4: Decision
step 5: Post-decision behaviour
The worst thing you can do as a salesperson is to appear pushy, as it shows that you are prioritizing your own needs instead of your clients'.
Also, clients who make decisions too slowly can hinder your ability to make as many sales as possible, hence taking the time in the beginning to understand the decision-making process of clients can save you time in the end.
Today's consumers are bombarded with choices, and it can be difficult to set your product or service apart from the rest. That's why it's important to offer something unique that your customers can't find anywhere else. Whether it's a new product feature or a different way of doing business, find a way to stand out from the competition.
Don't make the mistake of making a whole list of unique selling points. Just one is enough. Humans are unable to comprehend too much information - you want to make your message as clear and straightforward as possible.
5. Do your homework.
One of the most important things you can do when selling anything is to first educate yourself on the product or service you are trying to sell. This means knowing everything there is to know about your product, from its features and benefits to its competition. The more you know, the more confident you will be when selling, and the more likely you are to close the deal.
In addition to knowing your product inside and out, it is also important to know your customer as mentioned before. This means understanding their needs and wants and even understanding their background. By taking the time to understand your customer, you will be in a much better position to sell them what they need.
6. Be confident, even when you don't have all the answers.
One of the most important qualities of a good salesperson is confidence. If you do not believe in your product or service, why should your customer? If you are not confident, they may start to question everything else about your product or service as well. Think about being a customer; would you buy something from someone who seemed unsure of themselves? Probably not.
When you are unsure of how to answer certain questions, don't hesitate to admit that you don't have answers to everything, albeit you must do so confidently. Showing weakness could in fact be interpreted by customers as a sign of being genuine, which can even help establish rapport.
7. Anticipate your client's objections.
When you're selling a product or service, it's important to anticipate your client's potential objections. This way, you can address them head-on and increase the chances of making a sale. Nobody makes a purchase when they have serious doubts about what they are about to purchase.
There are a few common objections that customers might have, such as concerns about price, quality, or fit. By preparing for these objections in advance, you can show your potential client that you're knowledgeable about their needs and that you're ready to address their concerns.
Here are a few tips for anticipating and handling customer objections:
- Don't be afraid to address customer concerns head-on.
- Be prepared to offer solutions to overcome objections.
- Follow up with your customers after addressing their concerns.
8. Create a sense of urgency.
The sense of urgency is critical in sales because it's what drives the customer to take action and make a purchase. If there's no urgency, the customer may very well not see the need to buy your product or service. Make it clear that there's a benefit to taking action now rather than later -- you should genuinely be concerned for your client if they do not make a purchase immediately, given that you believe in your product enough.
Although being pushy is a big no-no in sales, being too patient is another big no-no. There will always be time wasters and it is a salesperson's duty to identify such people so that you can focus on customers who will value your time and service more.
9. Be prepared to walk away.
The art of sales is knowing when to walk away. If you're not getting the price you want, or the client isn't ready to commit, don't be afraid to walk away. This doesn't mean you should give up on the sale entirely - it just means you should be willing to walk away from the current negotiation.
In most cases, the best course of action is to walk away from current negotiations and come back later -- that is if you genuinely feel a need to take a break. This gives you time to regroup and rethink your strategy. It also shows the client that you're not desperate for their business.
If you're not willing to walk away from a deal, you're not likely to get the best possible price. If a customer is never going to make a purchase from you, spending more time with him/her will not change his/her mind.
10. Flexibilty, Framing, Story-telling
The most effective salespeople are usually the ones who are the most flexible. This means that they are able to adapt to the customer's needs and negotiate the best deal for both parties. Being flexible also means being able to change your sales pitch on the fly and not getting too attached to any one particular approach. This is called framing in sales.
Framing is one of the most underrated sales techniques. In particular, framing refers to properly positioning messages you are sending to your buyer in order to tell a story. Everybody loves a good story since good stories create deep emotional bonding, which humans desire.
11. Be assertive, not aggressive.
In order to be an effective salesperson, it is important to strike the right balance between being assertive and being aggressive. If you come across as too aggressive, you will likely turn potential customers away. On the other hand, if you are not assertive enough, you will not be able to close the sale. The key is to find a middle ground where you are confident and passionate about your product or service without being pushy.11. Be assertive, not aggressive.
In order to be an effective salesperson, it is important to strike the right balance between being assertive and being aggressive. If you come across as too aggressive, you will likely turn potential customers away. On the other hand, if you are not assertive enough, you will not be able to close the sale. The key is to find a middle ground where you are confident and passionate about your product or service without being pushy.
