Whether you’re in B2C or B2B sales, any rep worth their salt needs to cultivate certain negotiation and communication skills. While there’s a lot of know-how that goes into closing deals, we’re highlighting four particular skills that are essential to successful sales negotiation.
Being prepared, writing in notepad
Careful preparation before negotiation matters if you’re going to close a deal. A killer sales strategy begins with knowing your product and your customer. Cold calling company for windows and doors replacement Before you step into the room, try to ascertain what your buyer is likely to want and what you’re able to offer them. Why do they need your product or service? What are their pain points? What is their budget and what’s their role in the decision-making process? What are their other options if your deal doesn’t materialize?
In addition to knowing your qualified lead, acquaint yourself with your sales numbers, the products you’re trying to sell, and company policies. What concessions are you authorized to make? What is your best alternative to a negotiated agreement (BATNA)? Being able to answer these types of questions requires a great deal of thorough research.
Using active listening
Using active listening, speaking into microphone
In sales, as in life, it’s important to be a good listener. Sometimes, this means parsing for subtext. For example, if a prospect raises objections about cost, Best lead generation company for Air Duct cleaning they might actually have concerns about something besides the price. The best way to discover their real concerns is to open up the conversation—and your ears.
By using active listening to uncover what the prospect is truly worried about, you can then address and alleviate their doubts. Even if the deal doesn’t ultimately come to fruition, you’ve shown your buyer respect by listening carefully. Anyone can appreciate that.
Handling objections, finger pointing
Handling objections is a skill that involves a mix of active listening, problem-solving, and preparation. Almost all objections can be countered with knowledge about your products, competitors, and prospects.
It’s also important to understand your buyer’s objections and underlying objectives. Help them see that you’re there to help them meet those goals, and guide the negotiation toward solution-oriented next steps. Look for opportunities to build value around your original offer, too.
Knowing when to walk away
Knowing when to walk away, peace sign
At first blush, it may be strange to see the words “walk away” on a list of negotiation skills for sales professionals. Best lead generation company for home improvement company But being able to gauge when a deal is no longer worth pursuing is a key skill to master. Consider calling things off when a prospect:
Makes unreasonable demands or wants unprofitable concessions
Expresses needs that even your most lenient terms can’t accommodate
Resists collaboration and refuses to compromise
Occasionally, communicating your willingness to leave the table can push your buyer to reconsider. And if the deal doesn’t pan out, you may have just avoided a frustrating sales relationship.