3 Ways to Improve Your B2B Sales Negotiation Skills
After a lot of hard work, your prospect is ready to buy. This is the point where solid B2B sales negotiation skills can help you cross the finish line with maximum ROI. Before you enter the critical B2B sales negotiation phase, you want to make sure you know how to handle some tricky situations.
For example, do you have a good response when a prospect suddenly brings up the age-old “What can you do for a discount on this?” On one hand, you want to have control over the situation as a seller, but on the other hand you don’t want to lose out on the potential sale. So what should you do when asked for a discount or another type of concession?
Check out these three tips from a seasoned negotiator and saleswoman, Christina Nalband.
1. Confirm that you are the vendor of choice.
Before diving into the actual discounts that you are able to offer, confirm that you are the number one choice for this buyer, and that they are no longer considering any competitors.
Here’s some specific things to say to counter this potentially uncomfortable question:
“I’m glad we are talking about this together. I’m excited about the potential partnership. Before we jump in, I want to confirm a few things… Is that okay?”
“I know you said you were looking at [competitor] as well. Have you made the decision that we are the solution you want to move forward with?”
2. Confirm a realistic timeline.
If they are asking for a discount or an incentive, they should be able to give you a specific timeline of implementing your product beforehand.
Here’s a few ways to tackle that problem:
“Also, I know timing matters here for you. Could you get started/sign a contract this week/month?”
And if they agree to a specific time:
“Awesome! Now that I know you are committed to our solution and can sign this week, I can go back to my Director and ask to create a package for you that makes more sense.”
3. Confirm written proof.
In order to move forward with the deal, you’ll need to provide proof of its legitimacy to sales leadership to get the discounts you need to close the deal.
Here are a few ways to ask for a written confirmation:
“One more thing, can you do me a favor so I can confirm a new package with my director?
“Can you write me an email saying ‘Hey [seller’s name], I can execute a contract this week if you can get me to $x,xxx on the price.’?”
If a potential buyer asks for a discount and you are unable to confirm these three things, you might be negotiating against yourself and leaning toward a deal destined to fall apart. For more tips on B2B sales negotiation skills and other advice to help you secure your next deal, check out Christina’s LinkedIn feed.