5 Steps to Prepare for an Important Sales Negotiation

2 businessmen consulting to Prepare for an Important Sales Negotiation

The Most Basic Sales Negotiation Principle
Preparation is key to any successful sales negotiation.  When you spend the time to examine the possibilities of a negotiation and plot your approach, you are far more likely to come to a settlement that suits both you and your customer.  When the stakes are high, invest the time to prepare for an important sales negotiation.

5 Steps to Prepare for an Important Sales Negotiation
Here are the factors to consider as you prepare for an important sales negotiation:

1. Know What They Want
Learn as much as you can about what the other side wants. What is most important to them?  What would they consider a win?

Each sales negotiation is different just as each customer is different.  You need to figure out their priorities, whether it’s the value of a solution, overall cost, timing, follow-on support, guarantees, brand, etc.  Only when you are clear on their priorities going in can you be clear on what you can offer.

2. Know What You Want
What do you need, bottom-line, to feel satisfied with the final agreement? Is there a dollar number below which you will not go?  What are you willing to commit to?  It’s always best to have a backup plan in case the sales negotiations fall apart.

3. What Interests Do You Share
Next, identify what you have in common. As an example, let’s say the customer was burned by a competitor who did not deliver as promised.  If you offer a guarantee, that would provide great value to the customer at little cost to you.  Or if the customer needs to “test the waters,” perhaps you can deliver a pilot program before a full roll-out.

4. Beware of Assumptions
Too often, even the most savvy consultative sellers think they know what matters most to their customers and shoot themselves in the foot by offering more than they need or want. Try to establish an atmosphere of trust with clear, open communications and a common goal of reaching an agreement that is satisfactory to both.

The Bottom Line
The best sales negotiators know how to build strong, trusting, long-term relationships with their customers.  Negotiating fairly and successfully can be an important step in creating loyal customers.

To learn more about how prepare for an important sales negotiation, download The 2 Most Common Sales Negotiation Tactics to Prepare For

Share:
Facebook Twitter Google+ Email LinkedIn

Comments are closed.

LSA Global’s consultant brought a fresh perspective to our behavioral based interviewing strategy for two key executive positions we needed to fill, and their consultant helped us develop questions that produced a much deeper understanding of candidates’ capabilities. I am confident that the two new executives joining our organization have the right skills to add significant value. Throughout the process LSA was also very responsive in dealing with short lead time requests.

Because of the unique nature of our business, Excel is a core application in our accounting organization. After three attempts to find an Excel consultant who is capable of helping our finance team integrate advanced applications into our work processes we found LSA and Alex. He was not only a “Real” Excel expert but was masterful in helping us identify where to use Excel applications in our processes to increase our group’s efficiency.

SPO Partners & Co
Kim Silva, CFO

We recently partnered with LSA Global to offer our Supervisors and Managers a customized two-day management training program. Everyone who attended said it was by far the best management training program they had ever attended. The content was rich and highly interactive. The case studies were relevant. Each participant walked away from the training much better equipped to lead their teams.

Jeff Coon
Director of Human Resources

We partnered with LSA Global to help us invest in our people in the areas of performance coaching, diversity, and inclusion. They focused on helping us succeed and were very flexible in meeting our specific needs. LSA Global exceeded my expectations from a speed, quality, and value standpoint. I would recommend LSA Global to anyone looking for a true business partner.

Anita Luckinbill
Director, Human Resources

We have worked with LSA Global for our learning and development needs and have always had great success. They helped us recently with customized Management Workshops that we held for the second time. It was fantastic, and I would highly recommend LSA to anyone that is attempting to get immediate and impactful improvements.

Mary Johnston
HR Manager, BU Radiology Informatics

I highly recommend LSA Global to anyone who is looking to improve individual or organizational effectiveness through their top quality programs and broad range of expertise.

Greg Pappas
VP of Human Resources

I had been working with LSA for many years with my prior company. Currently, I’m with a company who hadn’t done much basic management skills training. After identifying and presenting a program recently, our managers are excited and talking in the halls about the great experience. LSA saves us time in delivering the right training for our needs.

Phyllis Moracco
HR Director

In the Next Generation Management Development courses, I was trained with skills and tools that have made me and my team more productive, motivated, and successful at communicating with other departments.

 

Kevin Ashman
Firmware Engineering Supervisor

I’ve been associated with LSA for the last 8 years and have found them to be an extremely professional, well managed full service training organization. Since working with LSA, I’ve participated in a number of solutions ranging from Performance Management to Assertiveness Training – I’ve found that the quality of the resources is superior. They are well prepared and have definitely done a considerable amount of pre-work in order to customize our culture and business into the total learning experience – making it most beneficial for our employees.

Duane Schroeder
Human Resource Manager

The Next Generation Management Development courses have helped me communicate more effectively with my peers and teammates. By utilizing effective communication techniques such as clarifying and confirming, and asking open ended questions, I have been able to clarify and understand information in situations where I would have otherwise asked limited questions and made false assumptions.

Robert Breckner
Firmware Engineering Manager

We have been able to utilize LSA’s extensive network of top-notch resources to leverage our investment in employee development. The result has been the cost effective and highly efficient delivery of quality educational and management training programs.

Steve Feller
Vice President, Human Resources

Working with LSA Global has proven to be extremely valuable and worthwhile. LSA understands our business, has deep expertise in content areas, and tailors the programs to deliver great results. The facilitator was extremely knowledgeable about Working Globally with India and her energy and passion made the session interesting, fun, and enjoyable for all that attended. The participants walked away extremely pleased along with highly useful practices and tools. I would highly recommend LSA Global to any company that has partners or offices in India.

Glenn McGillivray
Human Resources Business Partner

Intuit

LSA helped to meet the needs of my teams within a very narrow timeframe. My team walked away with highly useful management tools and practices. LSA saved us time in delivering the right solution for our specific needs.

Sandeep Kumar
Director, Software Engineering, EPG

We contacted LSA to help us with customized management development. LSA worked with me to identify a solution that would meet our exact needs. We decided to start at the top and ran the program for our executive team. It was such a great success that we hope to roll it out companywide. We look forward to a long-term partnership with LSA Global and their team of experts.

Barry L. Byrd, SPHR
Human Resources Manager

For our go to training outsourcing partner, LSA provides exactly what we want. As always, they deliver outstanding work!

Elizabeth Siebert
Director, Organizational Excellence & Development

Intuit

LSA’s customized Effective Presentation Skills program has helped me elevate my presentation skills to the next level. I now have a much greater self-awareness of my presentation skills and can leverage off of my strengths while working to improve upon other areas. I would definitely recommend this solution to anyone for whom business presentations are an integral part of their job.

Jim Elliott
Senior Marketing Manager

Samsung

Evaluate your Performance

Toolkits

Toolkits

Download key published insights and tools from industry experts highlighting best practices in the areas of talent, strategy and culture.

More

Health Checks

Health Checks

Want to know how you stack up against leading organizations?  Receive a complimentary benchmarking analysis courtesy of an LSA Expert.

More

Whitepapers

Whitepapers

Get up to speed on timely solutions critical to your business. Published by LSA Experts based upon client feedback and key industry trends.

More

Methodology

Methodologies

First we identify the key metrics you want to improve. Then we assemble a dedicated team of elite experts who have successfully solved similar problems with similar clients.

More

Blogs

Stay up to do date with the latest information on how we help high growth companies align their culture and talent with strategy.

More

Case Studies

Client Case Studies

Real world consulting and training approaches from LSA projects, providing insights on how your company can outperform the competition.

More