Mutually Beneficial Negotiations
For the kinds of negotiations that satisfy both parties and are likely to create value over time, you need to accept that win-win negotiations are more about cooperation and mutual benefit than confrontation and a zero-sum game.
Sure, you can try to arm wrestle an agreement out of the other side for a short-term gain, but that approach entails a huge risk that you will destroy the bigger and longer-term relationship. When you are at the negotiation table, long-lasting agreements and strong relationships are built not through antagonistic opposition, but on mutual trust. As we know from solution selling training best practices, trust is the basis of how to grow your customer base and their loyalty.
Be Smarter at Sales Negotiations
There are three tips from sales negotiation training on how to be smarter at negotiating to a win-win outcome:
- Lay the Groundwork
Each stage of the solution selling process is enhanced as you build trust with your customer by truly having their best interests at heart. The customer who believes in your ethics and your genuine desire to help them to succeed in a way that makes sense is the customer who will share their true needs and work with you to make it happen.
When you establish a trusting relationship with your customer, you have laid the groundwork for a sales negotiation that assumes fairness on both sides. In this way you have “primed” or encouraged your customer to appreciate the value of what you have to offer.
- Identify Needs
When one side or the other is surprised during a sales negotiation, trust is undermined. It’s important that you ferret out all the necessary information at the beginning. Ask the questions that will reveal what the customer truly wants and needs. Then listen carefully. It costs you little to spend the time listening, but it can cost you much if you miss critical information that will impact the sales negotiation.
- Leverage What You Know
Once you know what matters most to the customer, you have an opportunity to provide real value. Instead of now being forced to negotiate around price alone, you can show the comparative value of your solution. It’s all about understanding the big picture of how you can help the customer and what they value most.
The Bottom Line
When you can be smarter at sales negotiations, the results serve both you and your customer. You leave the negotiating table with a good deal and a loyal customer. And your customer leaves with a deal that fills their needs. What could be better?
To learn more about how to be smarter at sales negotiations, download The 2 Most Common Sales Negotiation Tactics to Prepare For