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Casual Articles - Effective Negotiating - The Key To Sales Success
As many people know Industry Trade Journals in America have gone through a tough time in recent years due to slowing of advertising dollars. In franchising there is no difference. They use to give away subscriptions to Successful Franchising on franchise web sites; unfortunately that magazine was unable to weather the storm. They stop publishing in October of 2001. Now we see a re-emergence of Franchise Times, who has hired a new salesman, who is going to all the franchisors and telling them to advertise.Most franchisors have theories of where it is best to advertise. Most DO NOT advertise in such trade journals. A few do, mostly for brand name recognition, although in
Use Time To Your Advantage:
Every one of us has been to a stock clearance sale. When the merchant runs out of time to sell his stock, his loses his pricing power.
Customers use this tactic on sellers and give a deadline to make a decision on price and terms. The person who is short of time is always at a disadvantage. Never allow yourself to be trapped in a "time limit" trap. Even when you are short of time, don't let it be known to the other person.
On the other hand, a person's urgency to get somethi
Many practitioners of business opportunities, which sell small business models to consumers, are excited to see that they will soon have a separate category of law, rules and regulations at the Federal Trade Commission. Most all Franchisors, those who sell franchises are also ecstatic over the move and say it is about time.Here is an excerpt from the Federal Trade Commission’s report of all the commenters on this proposed rule change and separation of the two business models;“Based upon its enforcement experience and the record developed to date, the Commission has determined to promulgate a separate trade regulation rule to address widespread fraud in the sale
Focus On The Customer - Show Him The Money:
The customer is not bothered about how badly you need to make the sale to meet your monthly target. He is more bothered about fulfillment of his needs and getting value for his money.
Talk about the customer's benefit. Don't tell your customer about the latest technology in the car's engine - tell him how this new engine saves him fuel and time.
Know Your Competition:
Knowing your product is not enough. You must know what your competition is offering. You don't want to end up staring at the customer, when he says your competitors are 20% cheaper. Have your answers ready. Give him valid reasons for your higher price.
Don't Waste Your Time With People Who Don't Matter:
When dealing with an organization, learn to prioritize. Don't waste your time explaining the secretary why your power tools are good. Save your time and energy for the decision maker. Try to get an appointment with "the boss". If you can't get one immediately, try for a later one, else move on. The secretary is not going to buy your tools.
Exploit The Copycat Mentality:
Humans have a mentality to copy what others are doing successfully. If a person's competitor or acquaintance is using a product, he may be tempted to use the product too. Keep your references ready and tell him how others have greatly benefited from your product or service.
Get Them To Agree:
When a person agrees to something you are saying, he subconsciously creates a positive frame of mind towards your offer. Getting the other person to say "Yes" on various occasions brings both of you on the same side - with the same goal.
Your Negotiating Strength Lies In Your Uniqueness:
If it is easy to find someone providing the same service or product that you provide, your negotiating potential is reduced. The more unique your offer, the greater negotiating powers you have. Always make a list of points which differentiate you from your rivals. Sometimes people buy things just because they are different from what most other people are using.
Use Time To Your Advantage:
Every one of us has been to a stock clearance sale. When the merchant runs out of time to sell his stock, his loses his pricing power.
Customers use this tactic on sellers and give a deadline to make a decision on price and terms. The person who is short of time is always at a disadvantage. Never allow yourself to be trapped in a "time limit" trap. Even when you are short of time, don't let it be known to the other person.
On the other hand, a person's urgency to get somethin
So many business consultants often say that they are tired of being right all the time and wish that their clients or business associates would listen. They get upset and admit that millions of dollars were wasted because they just did not listen. One top-notched consultant from PA mentioned this to me not long ago. Indeed, as a semi-retired consultant, I must agree with her.I also caution myself and others not to always blame the client, even though it is their fault for not listening. I remind myself that I am the mentor or consultant here, my duty was to convince the client or boss of the need for a coach, plan or adding of a team member or even arrange the meeting
Talk about the customer's benefit. Don't tell your customer about the latest technology in the car's engine - tell him how this new engine saves him fuel and time.
Know Your Competition:
Knowing your product is not enough. You must know what your competition is offering. You don't want to end up staring at the customer, when he says your competitors are 20% cheaper. Have your answers ready. Give him valid reasons for your higher price.
Don't Waste Your Time With People Who Don't Matter:
When dealing with an organization, learn to prioritize. Don't waste your time explaining the secretary why your power tools are good. Save your time and energy for the decision maker. Try to get an appointment with "the boss". If you can't get one immediately, try for a later one, else move on. The secretary is not going to buy your tools.
Exploit The Copycat Mentality:
Humans have a mentality to copy what others are doing successfully. If a person's competitor or acquaintance is using a product, he may be tempted to use the product too. Keep your references ready and tell him how others have greatly benefited from your product or service.
Get Them To Agree:
When a person agrees to something you are saying, he subconsciously creates a positive frame of mind towards your offer. Getting the other person to say "Yes" on various occasions brings both of you on the same side - with the same goal.
Your Negotiating Strength Lies In Your Uniqueness:
If it is easy to find someone providing the same service or product that you provide, your negotiating potential is reduced. The more unique your offer, the greater negotiating powers you have. Always make a list of points which differentiate you from your rivals. Sometimes people buy things just because they are different from what most other people are using.
Use Time To Your Advantage:
Every one of us has been to a stock clearance sale. When the merchant runs out of time to sell his stock, his loses his pricing power.
Customers use this tactic on sellers and give a deadline to make a decision on price and terms. The person who is short of time is always at a disadvantage. Never allow yourself to be trapped in a "time limit" trap. Even when you are short of time, don't let it be known to the other person.
On the other hand, a person's urgency to get somethi
Building a business with web 2.0 is not only cheap, it's profitable. How cheap? How about free? How profitable? Well, since web 2.0 is free, it's all profit.Social networking.In some social networks it is against the terms of service to market anything, while others are dedicated to business. This does not mean you can't rake in profits from those who don't allow marketing, it just means you have to be a little sneaky. If "black hat" tactics are not for you, then stick with the business social networks.The key to social networking is to add or invite as many people as possible to be your friend or contact. Then, if your in a business network, you can
When dealing with an organization, learn to prioritize. Don't waste your time explaining the secretary why your power tools are good. Save your time and energy for the decision maker. Try to get an appointment with "the boss". If you can't get one immediately, try for a later one, else move on. The secretary is not going to buy your tools.
Exploit The Copycat Mentality:
Humans have a mentality to copy what others are doing successfully. If a person's competitor or acquaintance is using a product, he may be tempted to use the product too. Keep your references ready and tell him how others have greatly benefited from your product or service.
Get Them To Agree:
When a person agrees to something you are saying, he subconsciously creates a positive frame of mind towards your offer. Getting the other person to say "Yes" on various occasions brings both of you on the same side - with the same goal.
Your Negotiating Strength Lies In Your Uniqueness:
If it is easy to find someone providing the same service or product that you provide, your negotiating potential is reduced. The more unique your offer, the greater negotiating powers you have. Always make a list of points which differentiate you from your rivals. Sometimes people buy things just because they are different from what most other people are using.
Use Time To Your Advantage:
Every one of us has been to a stock clearance sale. When the merchant runs out of time to sell his stock, his loses his pricing power.
Customers use this tactic on sellers and give a deadline to make a decision on price and terms. The person who is short of time is always at a disadvantage. Never allow yourself to be trapped in a "time limit" trap. Even when you are short of time, don't let it be known to the other person.
On the other hand, a person's urgency to get somethi
You really want to understand Web Marketing 2.0, without buying hundreds of guides? Learn how to make connections online. The easiest and fastest way to make that connection as a noted authority is to learn the art of giving.Most Web 2.0 sites that will help you market your site will Only work if you make a conscious effort to share your resources. Think of it as traditional networking amplified and assisted by web tools. Realize, though, that the technical details of how to maximize social bookmarking, blogging, RSS, collaborative tools and widgets are all useless without the new underlying first rule of the Web."What's the new rule, Tinu?"Well, in order
Get Them To Agree:
When a person agrees to something you are saying, he subconsciously creates a positive frame of mind towards your offer. Getting the other person to say "Yes" on various occasions brings both of you on the same side - with the same goal.
Your Negotiating Strength Lies In Your Uniqueness:
If it is easy to find someone providing the same service or product that you provide, your negotiating potential is reduced. The more unique your offer, the greater negotiating powers you have. Always make a list of points which differentiate you from your rivals. Sometimes people buy things just because they are different from what most other people are using.
Use Time To Your Advantage:
Every one of us has been to a stock clearance sale. When the merchant runs out of time to sell his stock, his loses his pricing power.
Customers use this tactic on sellers and give a deadline to make a decision on price and terms. The person who is short of time is always at a disadvantage. Never allow yourself to be trapped in a "time limit" trap. Even when you are short of time, don't let it be known to the other person.
On the other hand, a person's urgency to get somethi
It’s getting harder and harder to differentiate yourself from the competition these days. Especially when your competition is global, offer additional value through their stellar service, and look and sound similarly wonderful to your offering. Not to mention that the new buzz words - ‘adding value’ and ‘trusted advisor’ – are universal, making it even harder to distinguish what you bring to the party as being superior.I recently read a quote by Daniel Pink in the Harvard Business Review 2/04 issue:”Businesses are realizing that the only way to differentiate their goods and services in today’s over-stocked, materially abundant marketplace is to make their offeri
Use Time To Your Advantage:
Every one of us has been to a stock clearance sale. When the merchant runs out of time to sell his stock, his loses his pricing power.
Customers use this tactic on sellers and give a deadline to make a decision on price and terms. The person who is short of time is always at a disadvantage. Never allow yourself to be trapped in a "time limit" trap. Even when you are short of time, don't let it be known to the other person.
On the other hand, a person's urgency to get something done can work in your favor. If the other person is in a hurry to get things done, you can be assured that he will be more willing to bend than he would in a normal situation.
A word of caution - never exploit the other person's urgency to such an extent that it makes the deal grossly one sided. You may get what you want one time, but such deals have a negative impact on your reputation and future business. A win-win situation is always desired.
Price Is Not Everything - Terms Matter Too:
Terms of service are as important as the price itself. An example could be the loans and mortgage industry. Companies are able to charge higher interests rates than competitors by allowing flexible repayment options. Companies offering freebies with their products are compensating a higher price with friendlier terms. Create a balance between the price and the terms - when price is your weak point, offset it with better terms.
"The Policy" Tactic:
Since childhood, people are taught that rules are not to be broken. At subconscious level most of the people carry a perception that it is their duty to follow all rules. You will be surprised how easily people give in when they are told that the terms which they expecting are against the company policy. Salespersons always keep a printed price list with themselves. Those few black words printed on a white paper add authority to the salesperson's arguments and send the message that it is not within their power to alter the terms.
Keep Your Last Price For The Last:
Most buyers have a tendency to ask for a lower price than offered. If asked for "the last price", quote something more than the actual "last price" which you are willing to give. It doesn't matter if initially you offer a price 2% lower or 20% lower - buyers will ask for a further lower price in both cases.
The Final Gambit - Say "No":
Risk taking is an essential ingredient of success.
Agreeing to customers' terms all the time weakens your image in the market. Walk out of the deal if it doesn't seem profitable. If the customer gives in to your terms, you win a profitable deal. If you lose the customer, why repent? He wasn't a profitable customer anyway.
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