Sales negotiations are notorious for taking unexpected turns. So, is there any point preparing for them?
Sales leaders will however tell you that playing by the ear is not the best way to handle sales negotiations. It is possible to go into a sales negotiation fully prepared and forearmed. Four important areas to prepare are:
•Analyse the Customer – Identify decision making patterns and sequences
•Analyse own offer – Components of offer, their value to Customer and relative cost to us. Points on which we have room to relax or extend concessions
•Analyse the most significant competitor – Do a SWOT with a difference
•Arrive at tactics – Cover both tactics and counter tactics to plan for
The benefits of good homework on sales negotiations are immediate and tangible. You know in advance what and where you can concede and what will be a walk-away position. So, chances are that you will not give away too much. You will be ‘surprise-proofed’ and not swayed by emotions.
Developing a comprehensive negotiation checklist specific to your requirements with detailed preparation points on all the above four areas will be helpful. So, if you are facing a crucial sales negotiation you can access a readily usable template to build a Negotiation checklist– receive the checklist from Mercuri.