Why it matters: Mistakes made during negotiations can ruin even the most mutually beneficial deal.
What are these mistakes? Poor preparation, following strict templates, lack of a plan "B" and other gross mistakes that threaten to lose clients. We tell you how to avoid these and other mistakes in negotiations.
Ignore the preparation process
Thorough preparation for negotiations with an important client is essential. This is where the entire process of cooperation begins, and the more thoroughly you approach this issue, the more likely the deal will take place.
It is a mistake to assume that an engineer data package appointed meeting is already 50% of success. If you do not properly prepare for negotiations, you risk losing a treasured client. Therefore, the success of the deal directly depends on the initial impression you make on your interlocutor.
Preparing for negotiations
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What you must take into account when preparing for negotiations:
Determine the main purpose of the meeting. This is necessary in order to choose the most effective way of conducting negotiations.
Study the client. Depending on who is sitting in front of you and what business they have, you decide how exactly to build a conversation and what methods of communication to choose. We wrote about this in great detail in our article: “Psychology of Negotiations: 13 Working Tactics” . Be sure to read it if you are going to negotiate with a difficult client.
Develop a plan "A", a backup plan "B" and preferably a couple more scenarios. This is necessary in order to save face and not lose confidence even in the most unfortunate development of events.
Prepare a presentation. Talk about your advantages through the prism of your own cases and how your work process is built. Don’t miss the opportunity to show in numbers why the client should choose you and not look for a solution from your competitors.
With careful preparation, the risk of failing negotiations is reduced to zero. Of course, clients are different. Even if you do not close the deal, but manage to appear in a favorable light to the client - this is already a victory. This works for the company's reputation and forms a positive brand image.
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Conduct long monologues
Negotiations are a dialogue. Nobody likes long lectures, boring speeches and endless explanations. If the interlocutor wants to insert a comment during your presentation, ask a question or clarify unclear points, give him such an opportunity.
This way you show that you are open to discussion, ready to listen and accept the opponent's point of view. And you certainly shouldn't ignore the interlocutor's questions, trying to finish your thought faster. Don't bore the listener, but, on the contrary, involve him in the conversation.
Boredom in negotiations
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An engaged client will agree to your terms faster. To do this, you can:
prepare a list of questions for the client in advance and ask them during the presentation;
ask clarifying questions that will allow the client to understand that you are interested in cooperation and correctly understand his requests.
And don't rush to finish the negotiations. A fast pace of communication undermines the client's trust. If you want to be heard, turn off your gadgets and keep track of the time. Allow more time and be present at the meeting.