McKinsey Research shows that a 1% increase in discount results in an 8% decrease in operating margin. However, research shows that this price concession isn’t necessary. In fact, in many cases customers are willing to pay more.
In a survey, 82% of respondents stated they “strongly agree” that they would pay an average of 4.2% more for a “high-quality” product. By controlling perceptions of value, negotiators can preserve or even increase the deal size.
This 2-day Consultative Sales Negotiation Program teaches your team the mindset and skills needed to reach the best win-win solutions for your company and your customers and improve sales pricing and profitability. When your team done the sales negotiations right, it can strengthen your relationship with your customers instead of weaken them.
Objectives:
At the program's conclusion, participants should be able to:
- Sell the value of your solutions and reduce price pushback
- Lead masterful sales negotiations that lead to win-win solutions for you and your customers
- Avoid critical mistakes in the negotiation process that kill credibility and the sale
- Win against lower-priced competitors
Course Outline
Module 1: Sales Negotiation Mindset
- Negotiation Challenge: To Uncover Your Negotiation Mindset and Habit
- Avoiding Common Negotiation Pitfalls
- The 6 Key Elements for A Successful Negotiation – Mindset, Skills, Information, Analyzing, Strategy and Emotion
- Creating an Empowering Mindset for Success in Negotiation
Module 2: Influence and Persuade Different Buying Styles of Customer
- Self-Assessment: Understand Your DiSC® Sales Style & Negotiation Style
- Know Your ‘Fears’ and Limitation in Sales Negotiation
- How to Overcome Your ‘Fears’ to Increase Your Power in Negotiation?
- Recognizing & Understanding Different Customer Buying Styles & Negotiation Styles
- How to Influence and Persuade Different Buying Styles of Customer In Negotiation
Module 3: Crucial Skills for Effective Sales Negotiation
- Questioning Strategy – Levels and Types of Questions to Encourage Customers to Think More Deeply and Critically
- Handling Resistance and Objections
- Managing Deadlock Situation in Negotiation
- Managing the Atmosphere and Environment in Negotiation
Module 4: Sales Negotiation Preparation
- Information Gathering – Know Your Counterparty and Competitors
- Identify Underlying Aims and Needs (Underlying Interests)
- Customer Analysis - To Determine Your Negotiation Positioning
- Set Your Negotiation Goal & Negotiation Strategy
- Developing Your Concession Strategies and Tactics
- Strategies to Increase Your Power & Positioning In Negotiation
- Strategies to Negotiate with Different Characters of Customer
Module 5: In the Room: Proposing & Bargaining
- Opening – Begin the Negotiation
- Managing the Atmosphere of Negotiation - Establish Common Grounds
- Observing Customer’s Body Language and Using Body Language to Help You Enhance Your Positioning in Negotiation
- How to Propose Your Concession Plan in a Persuasive Manner to Gain Customer’s Commitment?
- Finalizing the Agreement
Ren Ecosystem