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Negotiating the Sales Deal
A good salesperson is usually able to get to the negotiating table. Once there, however, it
takes a great salesperson to close the deal. The difference often comes down to an ability to
negotiate skillfully. Here are nine negotiating tools to help salespeople improve their closing
percentages:
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1. The preparation tool.
Remember the scouts' motto. Get your
facts straight before you start. If you have
to keep delaying the process so you can
find more information, you're probably
making a bad impression. Never walk in
cold.
2. The bottom line tool.
Before you sit at the negotiating table,
know what you want and what you'll
settle for. Set upper and lower limits. Ask
questions to find out what your customers
need. Then, read between the lines,
make realistic proposals and keep your
options open. Needs change as more
information and new ideas surface.
3. The expectation tool.
"Everybody has a price. But many
negotiators go wrong when they
attach dollar signs to that price.
They believe if they can just agree
on how much cash should be
passed across the table, all parties
will be happy.
This logic... ignores the noneconomic elements of a deal, the
psychological needs that buyers
and sellers bring to the table."
Aim high. Lofty expectations generally
produce lofty results, so ask for more
than you expect to get. This lets the other
- Mark H. McCormack,
side understand your needs and gives
you an opportunity to make a
"What They Still Don't Teach You at
counteroffer after a proposal is made.
Harvard Business School"
Rather than criticize the prospect's
proposals, make new offers.
Brainstorming alternatives can sometimes produce an agreement that no one
considered.
4. The harmony tool.
We all prefer to work with people we like, so even if you don't care for a customer,
get over it. Don't let personal feelings cloud judgment. Show respect and build
trust. If you create a good rapport, information is more willingly shared and
defenses are dropped.
5. The filtering tool.
Don't let discussions get sidetracked by minor issues. Put them on the back
burner and focus first on the big differences. You can get back to the small stuff
later. When you do, you may find it no longer matters.
6. The patience tool.
Often, the person with the most time wins. Salespeople are frequently urged to act
quickly. But if you feel rushed, the other side may be able to outwait you and get
a better deal. Give yourself time to step back, weigh the issues and make an
informed proposal.
7. The note-taking tool.
You've seen the police shows on TV where each witness remembers the crime
differently. The same thing can happen with a potentially great sales deal. To
avoid mistaken assumptions about the terms of an agreement, write them down
so everyone understands them precisely.
8. The silence tool.
Sometimes, the best tactic is to just keep quiet after an offer or concession is
made. Silence can prompt an immediate and positive reaction. Let the customer
talk himself out of objections. As the other person talks, you listen. Then ask
more questions and listen more. Reveal only as much information as you need to.
9. The final tool.
You go to a sales meeting knowing your top and bottom limits. In the end, if you
can't resolve the issues to everyone's satisfaction, there are only two words left:
"No deal." Don't be afraid to walk away.
The art of negotiation is to find common ground. Use these tools to come out a winner while you
build lasting relationships and chalk up new sales.
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