Periodically this section will be updated to recflect new negotiation coaching tips
Masterplan for NO-to-GO® Successful Negotiators
What limits the customers ability to use your competition?
We give the competition too much room, too much credit, and too much power-and therefore forfeit needlessly and detrimentally our power to server the customer.
It is very possible that the customer finds your competition:
- not to be as dependable as you
- lacking right capacity
- hard to work with
- not having full line of services needed
- less quality than you
- simply more of risk to do business with.
On value and price
Price is always an issue but made more of an issue that it needs to be. Remember in virtually any significant buy/sell process price is just the tip of the iceberg.
In buy/sell negotiating make value the center piece. You will encourage looking at value in terms of return on investment dollar rather than focusing simply on price. Which would you rather have your customer say?
“Your price is $500 too high ”
“For that extra $500 in price, what is the added on benefit to me?”
The former “Your price is $500 too high” -you have a pricing problem to deal with.
The latter gives you the opportunity to explain the added on value the $500 brings to the customer.
A few sales negotiating mistakes to avoid:
- Not doing your homework
- Being too eager to close the deal
- Not believing in the value of what one brings to the table.
- Price mindset-Having a price buyer mentality rather than a value oriented view.
- Allow to be see as “just a commodity”-
- Failure to distinguish between similar and same.
- Falling for Customers ploys and gimmicks- e.g., “We can get the same stuff down the street from your competitors” (If they can why are they down the street getting it?)
- Good guy-Bad guy ploy
- “You have to do better than that.”
- Giving concession too soon, too much and failing to get something back in return.