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Negotiation skills

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Sales stuck in Negotiation? Is it winning the deal or relationship?Learn the Steps to Negotiate. Learn Negotiation Strategies and Communication Styles.

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  • DOWNLOAD THAT BOOKS INTO AVAILABLE FORMAT (2019 Update) ......................................................................................................................... ......................................................................................................................... Download Full PDF EBOOK here { http://bit.ly/2m6jJ5M } ......................................................................................................................... Download Full EPUB Ebook here { http://bit.ly/2m6jJ5M } ......................................................................................................................... Download Full doc Ebook here { http://bit.ly/2m6jJ5M } ......................................................................................................................... Download PDF EBOOK here { http://bit.ly/2m6jJ5M } ......................................................................................................................... Download EPUB Ebook here { http://bit.ly/2m6jJ5M } ......................................................................................................................... Download doc Ebook here { http://bit.ly/2m6jJ5M } ......................................................................................................................... ......................................................................................................................... ................................................................................................................................... eBook is an electronic version of a traditional print book that can be read by using a personal computer or by using an eBook reader. (An eBook reader can be a software application for use on a computer such as Microsoft's free Reader application, or a book-sized computer that is used solely as a reading device such as Nuvomedia's Rocket eBook.) Users can purchase an eBook on diskette or CD, but the most popular method of getting an eBook is to purchase a downloadable file of the eBook (or other reading material) from a Web site (such as Barnes and Noble) to be read from the user's computer or reading device. Generally, an eBook can be downloaded in five minutes or less ......................................................................................................................... .............. Browse by Genre Available eBooks .............................................................................................................................. Art, Biography, Business, Chick Lit, Children's, Christian, Classics, Comics, Contemporary, Cookbooks, Manga, Memoir, Music, Mystery, Non Fiction, Paranormal, Philosophy, Poetry, Psychology, Religion, Romance, Science, Science Fiction, Self Help, Suspense, Spirituality, Sports, Thriller, Travel, Young Adult, Crime, Ebooks, Fantasy, Fiction, Graphic Novels, Historical Fiction, History, Horror, Humor And Comedy, ......................................................................................................................... ......................................................................................................................... .....BEST SELLER FOR EBOOK RECOMMEND............................................................. ......................................................................................................................... Blowout: Corrupted Democracy, Rogue State Russia, and the Richest, Most Destructive Industry on Earth,-- The Ride of a Lifetime: Lessons Learned from 15 Years as CEO of the Walt Disney Company,-- Call Sign Chaos: Learning to Lead,-- StrengthsFinder 2.0,-- Stillness Is the Key,-- She Said: Breaking the Sexual Harassment Story That Helped Ignite a Movement,-- Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones,-- Everything Is Figureoutable,-- What It Takes: Lessons in the Pursuit of Excellence,-- Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!,-- The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness,-- Shut Up and Listen!: Hard Business Truths that Will Help You Succeed, ......................................................................................................................... .........................................................................................................................
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  • DOWNLOAD THAT BOOKS INTO AVAILABLE FORMAT (2019 Update) ......................................................................................................................... ......................................................................................................................... Download Full PDF EBOOK here { http://bit.ly/2m6jJ5M } ......................................................................................................................... Download Full EPUB Ebook here { http://bit.ly/2m6jJ5M } ......................................................................................................................... Download Full doc Ebook here { http://bit.ly/2m6jJ5M } ......................................................................................................................... Download PDF EBOOK here { http://bit.ly/2m6jJ5M } ......................................................................................................................... Download EPUB Ebook here { http://bit.ly/2m6jJ5M } ......................................................................................................................... Download doc Ebook here { http://bit.ly/2m6jJ5M } ......................................................................................................................... ......................................................................................................................... ................................................................................................................................... eBook is an electronic version of a traditional print book that can be read by using a personal computer or by using an eBook reader. (An eBook reader can be a software application for use on a computer such as Microsoft's free Reader application, or a book-sized computer that is used solely as a reading device such as Nuvomedia's Rocket eBook.) Users can purchase an eBook on diskette or CD, but the most popular method of getting an eBook is to purchase a downloadable file of the eBook (or other reading material) from a Web site (such as Barnes and Noble) to be read from the user's computer or reading device. Generally, an eBook can be downloaded in five minutes or less ......................................................................................................................... .............. Browse by Genre Available eBooks .............................................................................................................................. Art, Biography, Business, Chick Lit, Children's, Christian, Classics, Comics, Contemporary, Cookbooks, Manga, Memoir, Music, Mystery, Non Fiction, Paranormal, Philosophy, Poetry, Psychology, Religion, Romance, Science, Science Fiction, Self Help, Suspense, Spirituality, Sports, Thriller, Travel, Young Adult, Crime, Ebooks, Fantasy, Fiction, Graphic Novels, Historical Fiction, History, Horror, Humor And Comedy, ......................................................................................................................... ......................................................................................................................... .....BEST SELLER FOR EBOOK RECOMMEND............................................................. ......................................................................................................................... Blowout: Corrupted Democracy, Rogue State Russia, and the Richest, Most Destructive Industry on Earth,-- The Ride of a Lifetime: Lessons Learned from 15 Years as CEO of the Walt Disney Company,-- Call Sign Chaos: Learning to Lead,-- StrengthsFinder 2.0,-- Stillness Is the Key,-- She Said: Breaking the Sexual Harassment Story That Helped Ignite a Movement,-- Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones,-- Everything Is Figureoutable,-- What It Takes: Lessons in the Pursuit of Excellence,-- Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!,-- The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness,-- Shut Up and Listen!: Hard Business Truths that Will Help You Succeed, ......................................................................................................................... .........................................................................................................................
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Negotiation skills

  1. 1. NEGOTIATION SKILLS
  2. 2. Objectives  Determine the importance of negotiation in the sales process  Identify key steps to take at every point in the negotiation process  Determine how to use various negotiation strategies to achieve results  Use effective communication to achieve good negotiation outcomes.
  3. 3.  What is Negotiation?  Negotiating with Prospects and Customers  Negotiation Strategies  Communication Skills Content
  4. 4. What is Negotiation?
  5. 5. Simply put... the process of getting what you want from another person. What is Negotiation?
  6. 6. The truth is we negotiate every day, everyone in their every day lives is a negotiator. Children negotiate with their parents for things they want. Spouses negotiate with each other over things they should buy or do this weekend eg. go to the funeral, the wedding or take the children to their friend’s party? Subordinates negotiate with their bosses over deadlines. Workers negotiate with their clients over services they can offer them.
  7. 7. Why Negotiate Negotiations occur for several reasons:  To convince people to take your side of an issue  To agree on how to share or divide a limited resource  To resolve a problem or dispute between the parties  To sell a product or service
  8. 8. Sales Negotiation  Sales negotiation can be a formal event at a specific time and date or it can be ongoing at different points in the sales process.  As a sales staff you are seeking a mutually beneficial relationship with your prospects and clients, not something that benefits only you or them. Why do you need to negotiate with customers in the first place?
  9. 9. because of Customer Attitudes  A customer’s attitude toward your product or service generally falls into one of four categories..... Objection Indifference Skepticism Acceptance
  10. 10. Customer Attitudes Acceptance : Customer agrees with your benefits and has no negative feelings toward your product Skepticism : Customer is interested in a particular benefit, but doubts whether your product can really provide the benefit Objection : Customer displays opposition to your product Indifference: Customer shows a lack of interest in your product because of no perceived need for its benefits
  11. 11. S0 why do you need negotiation skills?...  To be able to change customer attitudes towards your products and services;  Bottom line • ....... To win more Customers and improve profits for your organisation.
  12. 12. Negotiating with Prospects & Customers
  13. 13.  Negotiation with prospects and customers must be undertaken within the context of the sales process.  Where inadequate prospecting, pre sales preparation and planning is done, negotiation is likely to be unsuccessful. So what does the sales process entail? Negotiating with Prospects & Customers
  14. 14. Overview of the Sales Process 1. Prospecting and qualifying 2. Planning the sales call: The pre approach 3. Approaching the prospect 4. Sales presentation and demonstration 5. Negotiating resistance and objections 6. Confirming and closing the sale 7. Following up and providing after sales service
  15. 15.  Negotiation with the prospect usually begins after you have had the opportunity to present your products and services or after step 4 in the sales process.  At this point, you will be able to gauge whether the prospect  objects  is indifferent  is skeptical or  accepts your product or service  Based on your assessment of the situation, you can then begin to negotiate. Overview of the Sales Process
  16. 16.  Avoid negotiating unless you have had an opportunity to fully present your products and services  Understand the objections raised by your prospect and identify what your prospect or customer’s main points of interest may be based on these objections  Be prepared to illustrate how your offering will benefit them and quantify the value they will get (if possible)  Be prepared to be patient (which can lead to higher trust between you and your prospect)  Be confident in the value your product or service will provide your prospect  Be prepared to work toward a solution that works for both you and your prospect  Know in advance at what point the negotiation is no longer beneficial to you and your organisation and be prepared to walk away Before negotiation begins... Negotiating with Prospects & Customers
  17. 17.  Use open ended questions to confirm your understanding of their needs.  Be prepared for tactical responses from prospects and customers – such as exclamations after you explain the terms of your service (eh, aba! etc) or silence – don’t react and instead respond with more questions  Don’t rush to fill pauses with more talk – be comfortable with moments of silence  Listen  Be prepared to make slight adjustments for your prospect if possible eg. Adjust the product/service offering, loan payment terms etc.  Try to identify small things you have both agreed on to help develop positive momentum – summarize these agreements periodically During negotiation... Negotiating with Prospects & Customers
  18. 18.  If you are able to make a sale…  Summarize verbally and/or in writing the details of what you and the customer have agreed on as the terms of the service.  Thank the customer/ prospect for their time and reinforce the purchase decision  For your next negotiation, review the points that seemed to help move the negotiation process forward – study them, know them, use them  If you did not make a sale…  Sincerely thank the prospect for their time  Avoid appearing annoyed or disappointed  Give the prospect an “out” or an opening for them to come back to you/your organisation in the future (have this statement prepared)  For your next negotiation, review the points that seemed to prevent the negotiation process from moving forward – study them, know them, and act accordingly After the negotiation... Negotiating with Prospects & Customers
  19. 19. Handling Objections and Resistance  Objections can be defined as statements, questions, or actions by the prospect that indicate resistance or an unwillingness to buy . . . at least yet  Without sales resistance, there wouldn't be any need for salespeople  The first person who reached the prospect would make the sale  Serious negotiations seldom begin until the prospect's objections surface
  20. 20.  Prospects and customers raise objections for a myriad of reasons • Some people will almost always raise objections, even if they really need the product/service • They may be people who naturally raise objections as a matter of buying technique or negotiation strategy • The prospect may seek reassurance that the product/service will perform or yield the benefits promised • A few prospects will raise objections merely to irritate you the salesperson Handling Objections and Resistance
  21. 21. • Some prospects raise objections so that they can bargain for a better deal. Irrespective of how good your terms may be compared to the competition, some prospects are obsessed with getting an even better deal so that they can feel “victorious.” • Prospects may raise an objection because they have a bias against the your organization or type of service or, in rare cases, simply dislike you the salesperson. Handling Objections and Resistance
  22. 22.  Identifying and negotiating the prospect's most important or key objection is the first step to negotiating total prospect resistance.  One subtle way is by engaging the prospect in informal conversation before the sales presentation and encouraging him or her to reveal personal concerns and perspectives on problems Which other ways can you think of? Handling Objections and Resistance
  23. 23. Negotiation Outcomes PROSPECT SALESPERSON Win Lose Win Both the prospect and the sales person are satisfied with the terms of the sale and a good business relationship develops The salesperson is satisfied with the sale but the prospect is not. He may even feel manipulated or taken advantage of. The business relationship is in trouble Lose The prospect is satisfied with the sale but the sales person feels manipulated and may reciprocate in future negotiations or reduce customer service. The business relationship is in trouble. Both parties are dissatisfied with the sale thus the bond of trust between them may be so damaged that they are unlikely to enter into any future business relationship.
  24. 24. Common Mistakes to be avoided in Negotiation
  25. 25.  Inadequate preparation  Use of intimidating behavior  Impatience  Loss of temper  Talking too much, listening too little, and remaining indifferent to body language. Arguing instead of influencing.
  26. 26. Negotiation Strategies
  27. 27. Negotiation  There are various well tested strategies that can be used to achieve a win-win outcome, such as those used by Akosua and Ebo as outlined in this section.  Akosua and Ebo decide to visit a well known business area to win new clients for their institution.  Their first stop is an office located in the area with a lot of staff who are ideal potential clients. Akosua and Ebo intend to introduce their services to them, get them to be interested in the services to the point where they will actually sign on for a service such as open an account and/or take a loan. Strategies
  28. 28. Strategy Approach Vinegar – Honey Start with the cheapest possible product or service but one which still has benefits for the prospect. Akosua approaches one of her prospects and informs him that he can access a loan with very little effort – she goes ahead to explain the procedure for obtaining a loan from her organization. Practice with the cheapest product/service on your listing. Negotiation Strategies
  29. 29. Strategy Approach Pinpoint the need Focus on the need ie. Why a loan will be beneficial to the prospect and enumerate the benefits s/he would derive from the loan. Akosua’s prospect appears skeptical about the process and indicates so, stressing that he knew people who had been made similar promises but went through a lot of stress to obtain loans. She ignores his comment and begins to highlight the benefits to be derived from such a loan. Negotiation Strategies
  30. 30. Strategy Approach Challenge The prospect throws a challenge at Akosua in an effort to win some concessions. The prospect goes quiet for a while then tells Akosua that he needs a loan of GHC 5,000 but wants to be able to negotiate the terms of payment because he knows two people from his office who got a similar deal. Negotiation Strategies
  31. 31. Strategy Approach Limited Authority Limited authority is an attempt to postpone the decision on a pretext to get approval from a competent authority. Whereas the real aim is to gain time for reconsideration, and/or keeping the prospect still interested in the service for a reasonable period of time until a win-win situation is achieved. Akosua says, ‘those two people you are referring to took huge loans and so were given the opportunity to negotiate their terms of payment’ . But she indicates that she will speak to her boss about it. Negotiation Strategies
  32. 32. Strategy Approach Good Guy/Bad Guy The good guy / bad guy is an internationally used strategy. One member of a team takes a hard line approach while other member is friendly and easy to deal with. When bad guy steps out for a few minutes, the good guy offers the deal that under the circumstances seems too good to refuse. Bad guys usually comprise spouses, lawyers etc. Based on your experience on the field, how would you act out the good guy/bad guy strategy to your favour? Negotiation Strategies
  33. 33. Strategy Approach Defer Deferring strategy allows the negotiators time to reevaluate their positions. Deferring a decision often proves that patience pays. Please excuse us while we discuss ways in which we might provide you a better offer. Would you please reevaluate your position too? Negotiation Strategies
  34. 34. Keep It Light  You never want to let negotiations become too tense. Always feel free to smile and inject some humour in the conversation.  Lightening up the mood can ingratiate you with your prospect while also conveying your negotiating strength.  If you do not appear to be taking the negotiation as a do or die affair, your prospect may conclude that you are ready to move on if s/he does not cooperate and based on that s/he may decide to be cooperative. Negotiation Strategies
  35. 35. Communication Skills
  36. 36. Communication Skills  Communication skills are crucial in the kind of negotiations you engage in as field staff. Good communication is the cornerstone of any productive negotiation. Particularly important are  Oral communication and  Non-verbal communication  It is also important that as field staff you are aware of critical cultural norms that exist within your area of operations.
  37. 37.  Oral communication implies communication through the mouth. It not only refers to speaking but includes the ability to listen as well.  Specific examples of oral communication include:  Face to face communication in conversation, be it direct or telephone conversation, meetings, interviews, speeches, presentations, discussions etc.  Oral communication is significant in building rapport and trust with customers. Oral Communication
  38. 38.  When communicating with your prospects and customers  Slow down your speech and pronounce your words clearly and correctly.  Vary your pitch, tone and volume to emphasize key words or sentences.  Adjust the volume of your voice to your audience  speak softly but audibly when you are talking one-on-one  speak louder when you are talking to a larger group or across a room  Be conscious of your speech to avoid filler words such as um, uh, ah, like, well etc. Oral Communication
  39. 39.  Organize your thoughts and ideas before speaking (e.g. write notes on what you want to say).  Do not interrupt when someone else is speaking.  Respond non-verbally to show understanding and interest when communicating nodding your head, smiling etc.  Make eye contact when listening or talking to people.  Be specific when asking questions and giving answers.  Take notes if necessary to help you remember what is being communicated. Oral Communication
  40. 40. Phrase your words properly; it makes a difference. Two priests were so addicted to smoking that they desperately needed to puff on cigarettes even when they prayed. Both decided to ask their superior for permission to smoke. The first asked if it was okay to smoke while praying? Permission was denied. The second priest asked if he was allowed to pray while he was smoking. His superior found his dedication admirable and immediately granted his request. Oral Communication
  41. 41. Listening  Perhaps the best strategy to adopt while the other side lets off steam is to listen quietly without responding to their attacks.  You often get more through listening by finding out what the other person wants than you do by clever arguments supporting what you need.  Generally, good techniques of good listening include  paying close attention to what is said,  asking the other party to spell out carefully and clearly exactly what they mean,  requesting that ideas be repeated if there is any ambiguity or uncertainty.
  42. 42.  When we do not know others, their body language remains the first source of building image about them.  What people say may be reinforced or contradicted by the non-verbal cues.  When there is no consistency between the verbal and non- verbal communication, people rely on the non-verbal aspect of communication to determine the true meaning of what is being said. Non-verbal
  43. 43. Non-verbal Communication VibesSymbolic How something is said instead of what is said i.e. volume, rate and rhythm, silent pauses, sighs etc. Facial expressions, body gestures, dress etc. KinesicsParalanguage Feelings and emotions received from others through their body actions
  44. 44. Body Language What it could mean Avoiding eye contact Lack of confidence in bargaining position Making excessive eye contact Trying to bully or intimidate Fiddling with objects such as hair, pencils, or papers Lack of confidence Crossing and uncrossing the legs Impatient Keeping legs and arms crossed Not receptive Non-verbal
  45. 45. Court… Go on and practice these negotiation strategies to become effective sales people!!!

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