Whether you are making a sale or you’re on the receiving end it’s important to consider both sides of the deal when your negotiating a price. You want both sides to leave feeling satisfied right? Well there are three tactics to consider when negotiating. These are, to remain honest, committed and empathetic. You’ll need to find out exactly what the other party wants and how much their willing to part with. Remain transparent throughout the transaction and you’ll receive an easy victory for everyone.
Start by hitting your client with direct questions, find out what they want, usually the recipient might not be as honest about their end goal at the start. Try and encourage a straight answer. “What’s your vested interest?” “Tell me what you want, I want you to trust me.” You want to make the other party feel comfortable so they know you are looking out for both party’s interests.
Once you know what they want, you’ll be able to extend your relationship. By beginning to name your price and what you’re willing to pay. This’ll save a lot of time going forward. By stating your price you’ll present a quick and straightforward negotiation in order to build trust and desire to do more business in the future. It’s important to confirm all the necessary requirements from the customer before signing on the dotted line. You need to ensure you stay firm about what you want from the relationship: if somebody asks for the best offer, make sure you’re able to hit it before offering it. If they give you an offer you cannot attain, don’t be afraid to say no, it’s all about building that truthful relationship.
Get the price right
A lot of people often become overly aggressive and want to sell at a higher mark-up straight from the off. Is there really any point raising the price just for your own gain? Consider customer satisfaction, you want them to be satisfied. Give them a deal that provides value, that’s what both parties want from a deal. If someone offers a lower acceptable price, why not accept, it could be the start of a fruitful relationship.
Negotiating is about finding a way everyone can get on the same page. It’s about building relationships, remaining honest and finding a quick resolution. In order to improve satisfaction a speedy, honest deal is way forward.