Any marketing or business deal requires a good amount of negotiation. Negotiation is nothing but a dialogue between two or more parties to reach a mutual understanding or agreement. The main objective of negotiation is to compromise and develop a conclusion, which will be a win- win situation for all parties involved. High self-confidence, excellent communication skills are some of the prerequisites for a successful negotiation. Below are 5 tips and tricks for a successful sales negotiation along with sample conversations.

Negotiation tips and tricks

1. Add on technique

In this sales negotiation technique, once a deal is made, additional costs can be added in by correct dialogues. This is because once an agreement is reached; customers usually become relaxed and don't mind latter additions. However, this should be used sparingly as it can also backfire.

For Example:

Sales person: "So with all the features, the price comes to Rs. 19,500."

Customer: "Okay, That's fine."

Sales person: "Obviously, we need to add delivery charges which is Rs.50 and an installation fee of Rs.100."

2. Flinching

Customers usually flinch and balk at high prices. They may be discouraged from trying to negotiate further. This is a clue for you as a sales person to include further discount or freebies to the customer.

For Example:

Customer: "What! How much?? Rs 3000! That's a lot of money."

Sales person: "That naturally includes delivery and installation"

Customer: "It is still a lot of money!"

Sales person: "Maybe I can include a software package just for you"

3. Deferring to higher authority

If you cannot make further concessions, then it's a good idea to defer to a higher authority. Let the customer know that you need to take permission for further concessions. The customer usually backs out of haggling as he does not want to waste further time.

For Example:

Customer:" I am not happy with the maintenance fee. It is far too high for the amount of work done. I refuse to pay this high amount."

Sales person:"Oh. Since, I don't have an authority to negotiate on that let me get in touch with my manager on this issue."

Customer: "Thanks for your help. "

Sales person: "My pleasure, I shall intimate you once I get a reply."

4. Set Aside

Some clients may be very stubborn in their approach. In such cases, it is better to politely request the clients to keep aside their differing points and to focus on more common grounds.

For Example:

Client: "Look, we only do business with companies that give us sixty day terms. If you cannot, why are we wasting our time?"

Sales person: "Let's put that aside for a moment and first see if there are other things important to both of us?"

5. Hot Potato Technique

A hot potato technique is usually applied when the customer states some apprehension or problems before the negotiation begins.

For Example:

Customer: "I only have a budget of Rs.2, 50,000."

Sales person : "Good, I understand, so if I find a property that meets your needs, but is just beyond this amount, I will still show it to you then offer it to other buyers?"

The above 5 techniques requires excellent English communication skills. Such skills can only be developed by constant practice with an online English tutor or with a friend. Fluent English speaking skills can benefit by giving you a successful career.

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- By Monika Agarwal

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