See the full original article on Sales Hacker

How many times have you worked hard to get the deal to the verbal “yes” stage, only to be confronted with your prospects asking for a last-minute price reduction or wanting revisions to the contract? The game of negotiation lies in having established actions, ideas, and techniques to rely upon when faced with buyer pushback.

Buyers have negotiation tactics of their own, using the knowledge that a salesperson is going to have trouble saying “No” to last-minute revisions to their advantage. Many salespeople are so desperate to get the sale that they too readily cave into buyer demands and agree. While it’s human nature to want to please, there are also ways to steer the buyer in the direction you want them to go without seeming pushy.

Being a negotiation speaker and trainer, I have in-depth knowledge of certain tactics and phrases that salespeople should avoid if they want to secure the buyer in the most efficient and economically advantageous way possible. At the same time, there are key phrases and tactics that can guarantee a swift close of the deal to the satisfaction of both buyer and seller. During my negotiation keynote presentations, I have shared a robust toolbox of proven methods that will help salespeople achieve success. An established negotiation process is vital to the success of any sales team, and my methods aim to help you create a stellar one.

For example, a study by Huthwaite International found that companies with a formal negotiation process in place experience a 42.5% increase in net income! Despite this, only 80% of participating study companies had a formal negotiation process. Companies are not preparing their salespeople to navigate the tricky negotiation process that comes right before the contract is signed, thus opening themselves to major financial repercussions in the form of lost sales.

Having trained over 10,000 professionals in the area of negotiation, I have seen first-hand how sales teams armed with an established negotiation process will be prepared to answer last-minute hesitations with tactics that will close the deal and protect business margins. As an experienced negotiation sales trainer, I have developed ways to set realistic expectations for buyers when discussing the terms of the deal, while simultaneously addressing their concerns and letting them know that they have been heard.

Investing in negotiation training for your salespeople will help them learn to anticipate buyer concerns and arm them with tactics and phrases to use strategically in your next deal. Well-prepared salespeople can overcome fears of saying “No” and learn exactly what phrases to use to win a negotiation. Working with a negotiation trainer to develop a process that salespeople can follow is a proven way to increase revenue while retaining good customer relationships.

See the full original article, by negotiation keynote speaker Tony Perzow, on Sales Hacker


4 Effective Negotiation Techniques And Strategies

Tony Perzow is a former negotiation trainer at the Karrass Organization and Vice President of negotiation training at Strategic Pricing Associates, his mission is to help others be insanely successful. His highly engaging workshops shatter the myths and misconceptions that prevent most companies and individuals from negotiating effectively.  A polished and engaging presenter, Tony has trained top executives from many of the leading Fortune 500 companies. His upcoming book, You Suck at Negotiating – But You Don’t Have to with a Mindful Negotiation Practice goes beyond the theory of negotiating by providing practical, action-oriented information. Before his career as a negotiation trainer, Tony was a top sales performer, procurement specialist, and entrepreneur. He’s been a buyer and seller of some of the world’s largest closeouts, negotiating with such companies as Walmart, Amazon, and Costco. He’s also been a successful restaurateur, real-estate developer, and award-winning film producer. Tony has trained top executives from such companies as Apple, Red Bull, Samsung, PNC bank, MGM, Starz, Boeing, Rolls Royce, Pepsi, and Waterpik.