Managing the Sales Negotiation Process

How many times have you heard:

  • “You’ve got to drop your price by 10% or we will have no choice but to go with your competition.”
  • “You will have to make an exception to your policy if you want our business.”
  • “I know that you have good quality and service, but so do your competitors. What we need to focus on here is your pricing.”
  • “I agree that those special services you keep bringing up would be nice, but we simply don’t have the funds to purchase them. Could you include them at no additional cost?”

Every time you hear statements like these, you’re in the middle of a difficult sales negotiation. How you handle that negotiation will determine whether or not you close the sale and how profitable that sale will be. In order to give you a real edge every time, I have listed below some key points taken from my sales negotiation training seminar.

Don’t Believe Everything You See and Hear

Part of a good salesperson’s skill is to learn to read people and situations very quickly. However, when it gets down to negotiating, you have to take everything you see and hear with a grain of salt. Buyers are good negotiators, and thus they are good actors. You may be the only person who has what she needs, but everything she does and says, from body language to the words she uses, will be designed to lead you to believe that unless she gets an extra 10% off, she’s going with the competition. Be skeptical. Be suspicious. Test, probe, and see what happens.

Don’t Offer Your Bottom Line Early in the Negotiation

How many times have you been asked to “give me your best price”? Have you ever given your best price only to discover that the buyer still wanted more? You have to play the game. It’s expected. If you could drop your price by 10%, start out with 0%, or 2%, or 4%. Leave yourself room to negotiate some more. Who knows – you may get it for a 2% reduction. You might have to go all the way to 10%, but often you won’t. A little stubbornness pays big dividends.

Get Something in Return for Your Added Value

What if you discover that the buyer wants to be able to track his expenditures for your products or services in a way that is far more detailed and complex than is standard for your industry? What if your account tracking system is set up in a way that you can provide that information at essentially no cost to you? Often the salesperson’s overwhelming temptation is to jump in and say, “Oh, we can do that. That’s no problem.” Before you do, however, think about your options. You could throw it in as part of the package and try to build good will. Or you could take a deep breath and try something like, “That’s a difficult problem that will require some effort on our part, but it’s doable.”

In the second case, without committing, you’ve told the buyer it is possible. You may not be able to get him to pay extra for it but you may be able to use it as a bargaining chip in resisting price concessions. Which way you choose to go will depend on who your customer is and on the situation. However, you do have options.

Sell and Negotiate Simultaneously

Think of selling and negotiating as two sides of the same coin. Sometimes one side is face up, and sometimes the other side, but they are always both there. This is particularly true in your earliest contacts with the buyer. The face the buyer sees is that of a salesperson demonstrating features and benefits. The hidden face is that of a negotiator probing and seeking out information that may be invaluable later should issues like price, terms, quality, delivery, etc. have to be negotiated.

Be Patient

Finally, and most important, be patient. Sales is a high energy, fast moving business. Patience is one commodity that is in relatively short supply, but if you’re impatient in a negotiation, you’ll lose your shirt. If I’m negotiating with you and I know that you’re impatient, I will hold out just a little longer, no matter how desperate I am to make a deal with you. As long as I know you’re in a hurry, I’ll wait.

So be patient. Take the time that you need, don’t rush to give in, don’t show your anxiety, stay cool and don’t panic. Negotiation is a process and a game. Use the process and play the game. You’ll be astonished at the difference that it makes!

(c) Michael Schatzki – 2004. All rights reserved.

Benefits of Presenting Your Loved Ones With a Personalised Gift

There are no rules and regulations involved when presenting a gift to your dear ones. However it is vital to choose the gift that is suitable for the person and the occasion. It is said that giving gift is an art and it takes a lot of experience to be a master of this art. Gifts like birthday cards, cash etc. are outdated these days and everyone needs something special. Therefore presenting your dear one’s with a personalised gift is an excellent option and it shows that you care.

There are numerous benefits of presenting personalised gifts to your loved ones:

Value

When you present birthday gifts, marriage gifts or any other occasion gift in the form of a personalised present, the other person remembers that gift for a lifetime. Apart from this, these gifts are unique and has increased sentimental values as compared to any other gift. It allows you to highlight both the occasion and the person through it.

These gifts are perfect for those who have everything. Nothing can be as valuable as presenting them with a handmade gift. The handmade gifts are perfect in displaying that you really care for the person and these gifts act as a symbol for your relationship.

Uniform

Apart from this one of the most important benefits of opting a handmade gift is that they are uniform. This means you can even gift them to the people whose hobbies and likings are not familiar to you.

For example- A personalised signs or nameplates will be appreciated by anyone unlike a photo frame or a card holder.

Long lasting

Hand made gifts are long lasting unlike any other gift because of the value and emotions attached to it. You don’t have any option of ignoring or returning the gift, rather using it as they are made just for you.

You should be practical in your selection while choosing a handmade gift. Items like travel grooming kits, luggage, leather notepads, stylish pen, splendid looking card holder etc. should be selected so that it can be used by everyone.

These gifts should come from the heart so that they must be received happily from the recipients and they should notice that the gift is specially for them.

You can find many personalised gift ideas in various magazines and internet sites. But it is advised to listen to the person you are buying the gift for and discover what their interests are.

After he information about the taste of your friend, you should begin the research and select the most apt gift for them. Always remember to present a gift after considering the person. If you want to present a gift to your colleague, then present him/ her with a corporate gift like a card holder or a corporate pen. Whereas if you want to present a gift to a close family member, then gifting an exclusive present is a better option.

Engagement Presents: A Top 5

It’s not every day that someone close to you gets engaged, so when they do, a congratulations card doesn’t always cut it. That being the case, give some thought to personalised engagement gifts. They’re not your bog-standard engagement presents, based on the fact that yep, you guessed it, they can be personalised with the details of your choice – typically a name and message. Here, we give you a rundown on five of the most popular engagement presents. Just don’t be fooled into thinking this list is anything close to extensive – it’s far from it.

Engagement wine and champagne

Nothing says congrats quite like popping open a bottle of champers. If it sounds like your cup of tea, too, you can buy personalised champagne that includes a label of your choice that can be customised to include the couple’s names and a message. If you’d rather not plump for bubbles, meanwhile, personalised red, white and rosé wine come with exactly the same personalisation options.

Engraved crystal

If you fancy supplementing your champagne or wine, the obvious thing to do is engrave a pair of crystal glasses for the happy couple. There’s the option of champagne flutes or wine glasses, each of which can be personalised to include your couple’s names, date and a brief message. After that, we’ll pack the glasses into a swish satin-lined box. Very posh.

Engagement personalised newspaper

For a light-hearted engagement present, a spoof newspaper from the Daily Mirror is a safe bet. With this, you can personalise the front page of the paper to include the couple’s full names, where they live, the date and even the ‘writer’ of the piece. They’ll then be incorporated into the front page’s leading story. To top it all of you can also upload a photo of them to feature next to the ‘article’.

Love and Romance Personalised Diaries and Calendars

As personalised engagement gifts go, they don’t come much more handy, or personal, than the ‘Love and Romance’ calendars. Not only can you include names and a message, but if you buy the largest version, you’ll also get to include 20 specific dates relevant to the couple. What’s more, both the calendar and the diary can begin from a month of your choosing, not just January.

London Eye Cruise for Two

This cruise will allow the happy couple to enjoy a leisurely sightseeing cruise down the Thames over the course of a day. They can hop on and off as much as they like, so not only will they get a real insight into the capital’s history, but it’s really convenient, too. To round things off in style, they’ll also get a ‘flight’ on the London Eye. Happy days.