Sales Negotiation Techniques

Name: Sales Negotiation Techniques
Author: Doug Van Riper

Learn positive techniques to make negotiations more effective.

Preview the first lesson free — get full access to all 8 lessons.

Course: On-Demand

(gentle music) Welcome to Sales Negotiation Techniques. In the following lessons, you'll learn when to negotiate and how mindset along with setting goals can help prepare you for such situations. You'll also discover how asking key questions and listening for key details can help your negotiation strategy. We will also address the importance of reading body language to gauge who has the upper hand in negotiating and how to project confidence without over justification. Entering into a negotiation is a process designed to find a way to accommodate two or more people. These parties desire a different outcome than what was initially presented. Getting into the proper mindset can help you understand your goal and purpose in the negotiation. For example, your goal can be to understand how to reach an agreement with the other party. The first step in uncovering your negotiation counterpart's hidden interests is to build a relationship by asking good questions and listening empathetically to their responses. Building trust and establishing a relationship will go a long way in negotiations. The reciprocal nature of trust is a strong dynamic. People tend to respond to others' actions with similar actions, as research in the social sciences has found. But there are times when it makes sense to negotiate and when it doesn't. how do you know? Let's explore some negotiation tips. It's recommended not to negotiate until you have qualified the other party. And you know they have the ability to pay and desire to make a deal. If they aren't that serious, you're just wasting your time. Once the initial offer and counter offer have been presented, you already have an intuitive sense for the probability of success in this negotiation. If it looks like the offer will likely result in a final offer significantly outside of your reservation point, or walk away point, it may not be worth negotiating. If you have had several rounds of price exchanges and the other party is not close to getting near your walk away point, why continue? If you are mostly satisfied with the terms and you sense the other party is near their final offer stage, don't keep negotiating, wrap the deal up. You run the risk of having the deal fall apart if you keep pushing or perhaps misread the other party's willingness to engage. If you've seen the TV show Shark Tank, you've seen this happen many times. A shark presents an offer and suggests that it is a fixed and final offer. After that, the entrepreneur counters with something else and immediately, the shark declines the offer. Additionally, it's best to not negotiate if you aren't prepared or haven't had time to establish your walk away point. If new information surfaces that changes the dynamics on a potential deal, it is better to pause the negotiations so you can consider the newly surfaced information. Don't enter into battle without a strategy, sleep on it to get your thoughts together, then organize plans and redetermine the potential zone of possible agreements, Zopa or the bargaining range. If you lack solid justification to defend your position, it's advised not to negotiate just to negotiate. Sometimes you may just have a weak position so it's best to accept the reality if that's the case and make your best run at a reasonable offer. If price is the main factor, review all of the terms, features and benefits of the other party's concerns and needs that were discovered at the beginning of the sales process. That way you can check the boxes that everything they need from the purchase is going to be addressed. And the only remaining topic to discuss is price. Taking everything else off the table keeps a tight focus on what needs to be negotiated.

Intermediate Provider : Doug Van Riper 8 Lessons · 24m in Arabic, German, English, Spanish, French, Portuguese, Urdu, Chinese

Course Description

There are many different ways to achieve successful negotiation. In these lessons, you will learn basic negotiation techniques, how to determine when to negotiate, and how setting goals can help you prepare for negotiations. In addition, you’ll learn to assess someone’s wants and determine their needs when it comes to negotiating. These lessons will discuss how to set goals during negotiations and will walk you through knowing when you should or shouldn’t negotiate. These lessons will guide you in understanding the person you are negotiating with to gain an advantage during the negotiation process. We’ll explore how to prepare before the negotiation process, so you know what your acceptable outcomes are, and when to walk away. You will discover the differences between wants and needs, and how that impacts the likelihood of a positive outcome. By the end of this course, you will understand how preparation and knowledge of the negotiating process results in the confidence you want to project while negotiating. Finally, you’ll learn how to recognize the type of person you are negotiating with. This will help you maintain the upper hand in negotiations to achieve your desired outcome.

What You'll Learn

Apply basic negotiation techniques and recognize when to negotiate
Set goals to prepare effectively for negotiations
Assess the other party's wants and determine their needs
Identify who you are negotiating with to gain an advantage
Prepare in advance to know your acceptable outcomes and when to walk away
Project confidence and avoid overjustification during negotiations

Key Takeaways

Preparation and knowledge of the negotiating process build the confidence you want to project while negotiating.
Understanding the person you are negotiating with helps you maintain the upper hand and achieve your desired outcome.
Distinguishing between wants and needs affects the likelihood of a positive negotiation outcome.
Knowing when you should or shouldn't negotiate, and when to walk away, is part of effective negotiation.
Staying objective and setting goals during negotiations supports successful results.

Frequently Asked Questions

What will I learn in this course?

You will learn basic negotiation techniques, how to determine when to negotiate, how setting goals helps you prepare, how to assess wants and determine needs, and how to recognize the type of person you are negotiating with to maintain the upper hand.

How does this course help me prepare for a negotiation?

The lessons explore how to prepare before the negotiation process so you know what your acceptable outcomes are and when to walk away, and they cover setting goals during negotiations.

What topics or lessons does the course cover?

Lessons include Knowing When to Negotiate, Knowing Who You Are Negotiating With, Setting Goals, Assessing Wants and Determining Needs, Determining Who Has the Upper Hand, Avoiding Overjustification, Projecting Confidence, and a Test Your Knowledge assessment.

What are the main learning objectives?

The learning objectives are staying objective during negotiations, assessing wants, determining needs, and knowing when you should or shouldn't negotiate.