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  • Writer's pictureGreat Companies

5 Ways to prove that Negotiation is the Key to the Success of Your Business

Jul 22, 2017

A viable key to every conflict in business is negotiation.

Even if a salesperson has properly qualified a prospect and correctly managed their expectations through the sales process, the deal can still end in a negotiation resulting in better outcomes. Through negotiating one is able to impart the understanding of an individual to the other and hence improves customer trust, satisfaction and sales in the long run.

Here are some ways to negotiate well with your customers to increase the sales of your company.

1.Opting to sell the product or service first instead of choosing to negotiate before fixing the deal is a better option. The time after, once the sale is assured, is the best time to negotiate and inform you about the needs and requirements of the customer. Serving the customer according to their convenience makes them rely on the firm and hence increases the sales gradually.

2.Negotiating at the right time and at the right place also plays an important role in the smooth functioning and positive movement of the sales chart. Once you know your customer well, one can also be sure about the right situation and conditions of the customer to negotiate. Be sure to not manipulate the customer and not let it manipulate you, and simply understand the customer’s situation and serve them accordingly.

3.Let the customer set the conditions and the price they are willing to pay for the product. That instills in them a sense of freedom and that also makes them believe that you are willing to listen to the customers and consider their demands. Working according to the convenience of the client for the client is a better option instead of choosing your ways to make a condition suitable for them.

4.Walk away if necessary! Sometimes giving up is the solution to let the customer ponder about the actual value of the price. If not, in such a situation, one should keep in mind that the most profitable deals you’ll ever make are the ones you don’t get today.

5.Define the price you are willing to offer priorly. Setting the price in the heat of negotiation of the sale is the wrong time to do that. One might end up with a deal which is non profitable and incurs loss to the firm at that moment. Instead of that one should always be confident about the prices and conditions they are willing to offer and set a base and a ceiling to not get manipulated and also to not manipulate others.

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