Successful sales are what makes businesses grow. But every so often, a customer will want to discuss the details of your contract with them before signing. Regardless of how well the sales process appears to have gone, your one-one-one interaction with the customer can always make or break the deal.
This is where effective negotiation skills come in. For a deal to survive past the negotiation table, certain skills come handy. So, here are five negotiation sills that a salesperson must possess to succeed in closing deals with customers.
People want to feel that your product or service is going to solve their problem or satisfy their need. Oftentimes, the prospect wants to see how this is going to happen, and will ask questions that directly link your solution to their need(s).
It is only through active listening that you’ll be able to understand what the customer really wants. Don’t just fix your mind on closing the sale, pay attention to the customer – listen to both their spoken and unspoken messages and provide them with the answers.
When the customer is speaking, allow them to finish. Then, take a brief moment to evaluate the response in your head before you speak it out. The pause not only lets you refine your response but also shows the customer that you truly are thoughtful and interested in what they are saying.
It helps to speak slowly in a composed manner, articulating your words clearly to get the message across.
Whether it’s a face to face or phone conversation, you should be able to get the non-verbal cues that tell you more than the person says. Pay attention to these emotions and respond to them.
This way, you will create an atmosphere of trust and easily build a rapport with your leads. You’ll overcome the assumption that you are simply after the person’s money, and create the indication that you care for their needs.
Active listening enables you to properly address your prospect’s questions and match their focus. This makes it much easier to close sales.
Quick decision making
Negotiation is always about give and take. A customer will come with a set of demands, or the acceptable minimums. And you need to know just what concessions you can make and which ones you cannot take without hurting your business.
Since you won’t always know all the angles to expect before reaching the negotiation table, you should be able to make a proper decision in the heat of the moment.
It could be a huge discount that the customer is proposing, or even some extra support. A prospect could ask for premium features or even a bigger package. In any case, being able to evaluate the proposition and making up your mind quickly will be instrumental in letting you close sales before the prospect withdraws their business.
Knowledge of the product or service
Persuasion is inherent to any sales negotiation. Unless you are truly knowledgeable about the brand, product or service you are representing, you can easily lose a lead.
The customer simply isn’t looking to hear some unfounded justifications supporting the deal. Rather, they want to know how they’re going to benefit from buying what you are offering. This way, knowledge of the product is an essential sales skill. Demonstrate clear understanding of the products’ features so you can accurately present their benefits to the customer – that’s what persuades the customer to buy.
Also, even though most customers are likely to ask the same questions, there are cases where a customer will ask something particularly new or different. As long as you know your product in and out, you should have no problem navigating your way through any question that arises.
Clear confidence in your brand can go a long way in assuring the potential customer about the value of your solution.
Customers generally respond well to enthusiastic reps who are passionate about their offerings, especially when they’re eager to clearly articulate the benefits.
What this means is, be willing and able to quantify the value of your product or service and share it with the prospect. A prospective client will be much likely willing to pay what a solution is worth if they clearly understand the value of that solution.
It is your job as a sales rep to establish that value and show confidence in your solution in terms of how it will benefit the customer. You will need to be assertive to be able to instil that confidence in the customer and give them a reason to buy.
You could have all the great ideas about your solution, but unless you can articulate it, you’ll have difficulty communicating it to the customer.
Though they usually need the solution, most prospects are often undecided whether or not to buy (from you). As a salesperson, it is your role to drive the prospect from their state of indecision to decision and be able to close the sale. Sometimes all you have is only few minutes with the customer. This is where some eloquence, coupled with sufficient knowledge of the product will guarantee a successful pitch.
Use a clear voice to explain the product detail by detail, enunciating all the useful features and linking them to the needs of the customer. Done correctly, closing a sale will be a near guarantee.
Sales negotiations can feel intimidating to salespeople as no one wants to lose a well-qualified prospect. Nonetheless, while every negotiation can go in any number of directions, sales reps with these negotiation skills will be well-equipped to roll with the punches.