Man in suit shaking hands with a female client after closing a sale
A smart deal is not just about lowering the costs that our brand offers to the customer, it goes further, and is of due importance, since if only one of the two parties benefits, there is a probability that a break in the business relationship will occur .
On the contrary, when there is a negotiation process in which a relationship is established and an exchange of objectives and needs is carried out between the parties involved, the results can be quite positive, both in the short and medium term.
A well-executed strategy can make the difference between a successful and a failed closing , which is why we dedicate this article to addressing the fundamentals of negotiation, as well as some tactics that could be useful when establishing a sales dialogue.
Fundamentals of negotiation
A brief and accurate definition of what negotiation is would be summarized as a practical tool that seeks the best resolution of a conflict over a material good or a right, which list of telegram users in japan at the same time implies a communicative process in which attention must be paid.
But how can you achieve a convenient resolution? How can you implement appropriate negotiation strategies for the sales field? Below we will tell you about some of the most relevant fundamentals for achieving a successful sales closing.
Understanding the negotiation process
Planning: This part consists of specifying one's own objectives, as well as estimating the buyer's needs, in order to plan in advance the offer of a product or service, discounts, offers or strategies to dissuade and retain the customer.
Dialogue: At this point in the process, both parties, the seller and the buyer, are required to express their positions, objectives, needs and interests, in order to establish an agreement.
Proposals: Proposals consist of proposing solutions to the conflict, they are established according to one's own interests and what has been discussed, it is important to be cautious with what is provided.
Agreement and exchange: Agreement and exchange is the most complicated step in closing a sale because it involves giving something up to achieve an end. It is important to accept a proposition as long as there is a “loss” but also a “gain”.
Closing: Once the deal is closed, all that remains is to confirm what was agreed upon and establish the last pending points.
It is worth noting that there is no one way to negotiate, however the steps above could be quite useful as a guide.
Psychology of negotiation
There are multiple psychological elements that can affect the negotiation process, and it is important to take them into account in order to identify them during the dialogue phase, or to know how to incorporate them into our strategy.
These techniques include:
Anchoring: This involves assuming the first thing we are told as true. The correct way to implement it in the discussion of a deal is to point out our conditions in advance, so that this information can be the reference point.