Sales Wisdom from Art & Kelley

As we kick off a new month, I wanted to share with you an email I got a few days ago from Art Sobczak:

Greetings,

A few items for you as we head into the holiday weekend here in the US. First, a bonus article for you on negotiation from my friend Kelly Robertson. This actually is excerpted from a brand new book Top Dog Recession-Busting Sales Secrets, with contributions from over 50 sales authorities (including myself). You can see more info on the book here.

Five Ways to Negotiate More Effectively

by Kelley Robertson

Most salespeople and business owners hear statements like these everyday: "What's your best price?" or "That's too expensive." or "Your competitor is selling the same thing for---." These statements are clues from buyers and prospects that you need to learn how to negotiate more effectively. Here are five strategies that will help you drive more dollars to your bottom line:

Learn to flinch. The flinch is one of the oldest negotiating tactics but one of the least used. A flinch is a visible reaction to an offer or price. The objective of this tactic is to make the other person feel uncomfortable about the offer presented. Here is an example of how it works.

A supplier quotes a price for a specific service. Flinching means you respond by exclaiming, "You want how much?" You must appear shocked and surprised that he could be bold enough to request that amount. Unless the other person is a well-seasoned negotiator, he will respond in one of two ways: He will become very uncomfortable and begin to try to rationalize his price; or he will offer an immediate concession.

Recognize that people often ask for more than they expect to get. This means you need to resist the temptation to automatically reduce your price or offer a discount. I once asked for a hefty discount on a pair of shoes hoping to get half of what I asked for. I was pleasantly surprised when the shop owner agreed to my request.

The person with the most information usually does better. You need to learn as much as possible about your customer's situation. Ask your prospect more questions about his purchase. Learn what's important to him as well as his needs and wants.

Develop the habit of asking questions such as:
"What prompted you to consider a purchase of this nature?"
"Who else have you been speaking to?"
"What was your experience with... ?"
"What time frames are you working with?"
"What is most important to you about this?"

It's also important to learn as much about your competitors as possible. This will help you defeat possible price objections and prevent someone from using your competitor as leverage.

Practice at every opportunity. Most people hesitate to negotiate because they lack the confidence. Develop this confidence by negotiating more frequently. Ask for discounts from your suppliers. As a consumer, develop the habit of asking for a price break when you buy from a retail store. Here are a few questions or statements you can use:

"You'll have to do better than that."
"What kind of discount are you offering today?"
"That's too expensive."

Wait for a response afterward. Learn to flinch. Be pleasant and persistent but not demanding. Conditioning yourself to negotiate at every opportunity will help you become more comfortable, confident and successful.

Maintain your walk-away power. It's better to walk away from a sale rather than make too large a concession or give a deep discount on your product or service. It's particularly challenging to walk away when you are in the midst of a sales slump or slow sales period. But, remember that there will always be someone to sell to.

Negotiating is a way of life in some cultures, and most people negotiate in some way almost everyday. Apply these strategies and you will notice a difference almost immediately.

Kelley Robertson is a president of The Robertson Training Group. This article was excerpted with permission from Top Dog Recession-Busting Sales Secrets. This new book is packed with real-life examples and rock solid advice from 50 leading sales experts. When you buy a copy, you'll also receive bonus gifts from authors such as Jeffrey Gitomer, Tom Hopkins, Zig Ziglar, Bob Bly, Wendy Weiss, and more. All this plus free shipping! Check it out here.


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