Part 2: On winning

Question 1

What is sales negotiation all about?

Answer 1

Getting the best outcome for your team and protecting your relationship.

Question 2

What are people really negotiating for?

Answer 2

The want to:

• feel significant and important
• feel that they are good negotiators
• feel self-worth for doing a good job
• please their boss
• feel the satisfaction of winning
• feel that they have won for their team
• safe face and protect their self-esteem

Emotion comes first, then logic.

Question 3

Why should you never negotiate before you are the VOC?

Answer 3

Once the stakeholders have chosen you, it changes their motivation curve. They are much more likely to see the deal through to an outcome.

Winning first makes it easier to maintain emotional control!

Question 4

What are savvy buyers trying to achieve by applying the rope-a-dope strategy?

Answer 4

Under pressure sales people are unable to maintain emotional control. The negotiate with themselves and make concessions.

Question 5

What should you do when faced with a red herring?

Answer 5

1. Pause and collect your emotions before speaking.
2. Acknowledge and let the stakeholder know you heard them by taking notes.
3. Ignore
4. Save by asking an unrelated open-ended question that gets them talking

Question 6

What is the difference between objections and negotiation?

Answer 6

Negotiation comes last in the sales proces. Objections occur at multiple stages in the sales proces.

KNOW THE DIFFERENCE!

Question 7

Value-Add negotiation?

Answer 7

1. Low risk
2. Low to medium deal size
3. High weight on price
4. Low weight on terms and conditions
5. Terms and conditions often used as leverage (value trade) to maintain margin
6. Preserving the long-term relationship is a consideration to protect repeat purchases