Exceptional salespeople are great closers. Most sales people aren’t effective negotiators because they are too willing to do whatever it takes to make the sale. They are so attuned to serving the customer that they let professional negotiators walk all over them. Sales superstars realize that negotiating is a game that they must win for their customer to succeed. So they play hard and fast. And they win.
Do your sales people have to discount to close deals?
The most likely negotiating tactic your customer will try is to ask you to discount your price. During the close they will often develop their “value amnesia” they have forgotten why they selected you after an exhaustive search. Don’t give in to this negotiating ploy. The second you give in on price during negotiations you negate the value you have built during the sales process.
Can your salespeople ‘think on their feet’ when negotiating?
Negotiating is counterintuitive to selling. Most salespeople aren’t effective negotiators because they’re too willing to do whatever it takes to make the sale. Your unconscious, natural reaction in negotiations is often the opposite of the best negotiating behavior. Learning how to negotiate effectively can vastly increase the odds of a success for both your and your customer.
Is account profitability eroding?
Repeat business is much more profitable than new business. Customers only become repeat customers when they are satisfied and they trust you. Learn how to negotiate for success to ensure customer satisfaction and repeat business.
Closing a deal is all about power. Sales superstars know how to use power – their own, their coach’s, their decision maker’s – to negotiate a win-win relationship. They don’t discount their price. They don’t let the customer cut corners in a way that will jeopardize the successful implementation of the solution. They know when to escalate issues to get them resolved. And they know when to walk away from an unprofitable deal.
Exceptional sales people take the initiative to plan and lead the negotiating process. Their intimate knowledge of the customer’s needs and how the technology works, enables them to scale the solution on the fly. They know what they can give up and what they can’t. And they have a back-up plan. The exceptional sales person’s deals are always successfully implemented. The customer is always satisfied, so they become loyal, repeat customers.
WHY CLOSE FAST?
The contract is signed.
There is an excitement about the close. All your hard work is about to pay off. The decision maker is convinced that your solution is the best. Everyone who counts is on board. The moment has arrived. Then all of sudden everything changes. New players, purchasing agents who understand neither the business strategy nor your value proposition, enter the picture. Your gatekeeper has an attack of “value amnesia” and completely forgets why your solution is the best choice. The losing competitor plays dirty tricks in desperation, like cutting their price by 70%. Before you lose control, learn how close the deal. Fast.
The customer commits to a successful implementation.
Closing negotiations are a precarious time. New people who don’t understand the issues or value of the solution become involved in the decision. Mistakes are easily made. Carefully thought out plans can be sacrificed in pursuit of the best deal. It is time for you to champion the success of the project. Learn how careful planning and skillful negotiations can help your customer succeed, in spite of themselves.
You increase the profitability of the deal.
During a complex negotiation you will have many opportunities to significantly “sweeten the pot.” If you have a thorough knowledge of your customer’s needs and the business model of your offer, you will be able to negotiate with flexibility and style. Learn how to plan your negotiation so you end up with a profitable deal.
You negotiate with confidence.
Most sales people lack confidence when it is time to sit down at the negotiating table. This is because negotiating tactics are counter-intuitive to good sales behavior. In this chapter you will learn techniques for negotiating effectively and closing fast, so you can overcome your fears.
