The best strategy for building repeat business and a referral pipeline is to approach every sale with a win-win scenario during the closing phase. In other words, both you and the buyer should walk away from the negotiation feeling as if you both succeeded.
Here are some prudent strategies designed to let you create win-win outcomes for your prospects and clients:
- Develop a perspective of long-term mutual gain versus short-term personal gain. The essence of a win-win outcome is a shared benefit. Don’t think so much about what you will gain by making a sale, but rather how you can help the client.
- Create a trusting, cooperative tone at the outset. Successful negotiations are built upon a foundation of trust and mutual respect. You build this foundation by stating up-front; your desire to achieve mutual benefits and a long-term relationship.
- Do your homework! Shooting from the hip and pulling figures out of the air will hurt both you and the prospect. Enter the negotiation with as much information as is available, fully knowing what you want and why you want it, as well as what the prospect wants and why they want it.
- Discuss the issues using first person plural pronouns. First person plural pronouns (we, our, us) highlight mutual benefits and interdependence. First person singular (me, mine, my, I) or second person (you, your) pronouns suggest independence, personal gain and even confrontation in some cases.
- Focus on interests, not positions. Positions are what you want; interests are why you want them. When you move from the “what” to the “why,” you move from a discussion of demands to a discussion of mutual needs. Moreover, you move from focusing on the requirements of the sale to focusing on the prospect’s pain or challenges.
- Give in order to receive. If you give on one issue (price), ask the prospect to give on another (order size). Show your willingness to give and take as long as the prospect shares this same willingness. The key is to remember that if you are going to give up something, you should get something in return.
- Don’t get caught up in the emotions of the negotiation. Maintain your composure and objectivity at all times. In other words, never let them see you sweat!
The Sales Advisory Board
Copyright 2010 / The Sales Advisory Board: http://www.thesalesadvisoryboard.com/
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