Stretching out the process
Scenario: The sales opportunity is proceeding apace when suddenly all the important meetings are pushed way out. "I can't meet next Friday to discuss this; how about next month?"
Your best strategy is to surface some negative consequences of delaying the sale.
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Scenario: You've reached a verbal agreement, but in negotiating the final terms, the deal gets questioned. "We're not really sure that this is the right thing for us to do at this time."
The best strategy is probe further to see whether there's a real problem or whether you're just being yanked around.
Your best strategy is to call the customer's bluff.
Scenario: You're at the point of signing the contracts,when the prospect demands a steep discount. Example: "My boss says that if don't drop the price 25 percent, the deal is off."
The worst thing at this point is to give the discount, because then you've told the prospect you can't be trusted to offer the best deal.
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The most successful negotiators don't entertain dirty tricks in negotiation but instead strive to reach agreements that are satisfactory to both parties.
But if you find yourself on the receiving end of something that doesn't feel quite right, provided you recognise what's happening, you can address the situation and swiftly bring it back to a better place.
It's important to recognize when tactics are being used in an attempt to best you in a negotiation.
Do:
- Frame the negotiations as a problem-solving challenge.
- Take the time to make small talk. It’ll build connections you can leverage later on.
- Stress the areas on which you agree, and use words like “we” to signal you are invested in the relationship.
Don’t:
- Reflexively cave on issues because you think it’ll win you favor.
- Simply ask what the other side wants. Ask why they want it.
- Mistake impact for intent. The other side may have their own unique pressures that restrict their ability to maneuver.