Negotiating to Win: Strategies & Tactics for Sales Professionals Julie Thomas President and CEO ValueSelling Associates May 6, 2011 © 2011 ValueSelling.

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Presentation transcript:

Negotiating to Win: Strategies & Tactics for Sales Professionals Julie Thomas President and CEO ValueSelling Associates May 6, 2011 © 2011 ValueSelling Associates LLC. All Rights Reserved. 1

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This document contains proprietary information of ValueSelling Associates. Its receipt or possession does not convey any rights to reproduce or disclose its contents or to manufacture, use, or sell anything it may describe. Reproduction, disclosure, or use without specific written authorization of ValueSelling Associates is strictly forbidden. © 2011 ValueSelling Associates LLC. All Rights Reserved. 3

Identify the opportunities to negotiate Create Winning Outcomes Three different Negotiating Strategies The Art of Preparation Pitfalls to Avoid © 2011 ValueSelling Associates LLC. All Rights Reserved. 4 Today’s Objectives

Negotiate Verb: To deal or bargain with another or others, as in the preparation of a treaty or contract or in preliminaries to a business deal. © 2011 ValueSelling Associates LLC. All Rights Reserved. 5

Timing is Critical Negotiate only after a differentiated VisionMatch is confirmed Value is Confirmed Hold off on discussing terms, conditions and pricing too early

Understand Your Role Limits and Empowerments – The prospect requires something “non standard” Recognize the “show stoppers” early Negotiate internally for your empowerment Use your limits as a tool to maintain the relationship you have developed

Dimensions of Negotiation Deliverables Terms and Conditions Price

99 © 2011 ValueSelling Associates LLC. All Rights Reserved. TradeoffCompromiseEmbellishment

© 2011 ValueSelling Associates LLC. All Rights Reserved. 10

Strategy #1: Trade-offs Your objective is to meet both parties needs. Trade off an item in one category with an item in a second category. – Price reduction for a deliverable change How it might sound: – “If you want this product shipped to multiple locations, are you willing to accept different payment terms?” 11 © 2011 ValueSelling Associates LLC. All Rights Reserved.

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Strategy #2: Embellishments Enhance items in categories other than the one where there is a difference You may have deliverables that have little cost but large value…could you include them?

© 2011 ValueSelling Associates LLC. All Rights Reserved. 14

Strategy #3: Compromise Finding Middle Ground in the Same Category “If we can split the difference, can we move forward?” “If…then?”

Negotiation Prompter TM Prospect’s Ideal Situation Your Ideal SituationStrategy Terms & Conditions Deliverables Price

Pitfalls to Avoid Overstepping your boundaries Going “there” too soon Not understanding the “need” behind the request Maintain the relationship – Respect and Rapport – Acknowledge – Listen Actively

Remain Impartial Maintain your composure Clarify with lots of questions Avoid defensiveness or emotional reactions Focus on the issue – not the style Respond…rather than react Know your “walk away” position

19 © 2011 ValueSelling Associates LLC. All Rights Reserved. Negotiate to win!

Call to Action! Look at a current or upcoming negotiation – Step 1: Determine what your empowerment level is – Step 2: Identify both your prospect’s and your ideal position – Step 3: Use the Negotiation Prompter to create specific strategies to address the next interaction Execute!

At the end of today’s webinar Download a copy of today’s presentation from our website: Go to Under the Knowledge & Insights tab, scroll down and click on Webinars Left-hand side of page, click on Webinar Archive © 2011 ValueSelling Associates LLC. All Rights Reserved. 21

Looking for more information Visit the store at Books, ValueSelling tools, and elearning courses Webcast and newsletter archive ValueSelling Framework® In A Flash! Mobile App © 2011 ValueSelling Associates LLC. All Rights Reserved. 22

Next webinar The Executive Conversation: Tips to Maximize Your Impact in the C-Suite June 3, :00 AM Pacific Standard Time © 2011 ValueSelling Associates LLC. All Rights Reserved. 23

Julie Thomas, President and CEO ValueSelling Associates (858) © 2011 ValueSelling Associates LLC. All Rights Reserved. 24 Contact ValueSelling Associates