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How to Become a Master Negotiator 7 Keys

To help resellers and dealers maximize their bargaining prowess in business and in life, here Eldonna lists the 7 critical strategies for emerging victorious in any negotiation to European Reseller:

Project confidence through preparedness

Many people think they need to show a certain kind of confidence, like being loud, bold or brazen, to successfully negotiate a deal. Others think that a lot of experience is required to be a good negotiator.  Most of the time it merely takes tenacity and good old preparation to ensure you are aptly equipped to assert mutually desirable terms, anticipate objections, and discern what are motivators or “hot buttons” will resonate with your opponent. Projecting confidence also means having heart, which is endearing to others whether or not you have years of negotiation experience. This can also result in the opposition having a less defensive stance, making them more amenable to your stipulations. Projecting a notable level of confidence, and backing that up with solid, well-researched information, will help ensure you prevail.

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Proposal and Meeting Preparation

The Proposal

Following your conversation send a proposal, confirming that facts and figures you have already discussed.  If you are in a  competition you will know the outline of the proposition and  secured a place among the final contenders. It’s time to position yourself as the only option. As proposals can be used to demonstrate the full extent of your understanding and expertise, they should be used to their full effect. You’re asking for commitment, for attention and time, so put some in yourself.

Effective proposals don’t just disclose proposed terms, they educate and confirm the facts discussed and persuade potential customers.

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Warm Calling is More Effective

Warm calling not Cold Calling

Cold calling takes a considerable amount of time and work. By giving sales professionals the support they require, it can become a much more efficient process if you utilise exhibitions.

A structured conversation or “Pitch” is essential  and going into calls prepared, will result in a much better success rate. The conversation needs to be structured taking your intended target don’t a path, so any sales person conducting these calls needs to be suitably prepared. That means knowing the right questions to ask and the importance of having the answers to potential questions. Making  notes of the important details and ensure that you  are speaking with the right people.

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Read more: Warm Calling is More Effective

The Pitch Putting The Deal Forward

The Pitch

The pitch is an opportunity to put meat on the bones.

This conversation should outline the whole proposal raising the merits and qualities of the product and service, taking the listener down a well trodden path explaining in detail, the various stages, from  the initial sign up to attaining the platinum partner status with clear and decisive rewards available.

Presenting your brand, your product and your personalised solution, providing essential reassurance of the training and support available can be daunting. It doesn’t need to be. The information you have acquired and your skillset gives you all the tools you need. A good “Pitch” will take your  partner / client to the end with ease, not a monolog , but a conversation, giving lots of opportunity for questions and giving  answers

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ROI from Lead Generation

Learn how to get the best ROI from your lead generation:

Performance metrics should be used to set targets and estimate ROI. It’s important to establish a benchmark, on each stage of the process, not just email opening  and click rates as well as a breakdown of phone usage and other resources. In our experience performance metrics like these can be used to calculate targets, but they should be formed with an understanding of past results, expected performance and required ROI. Knowing the cost of each lead generated and the conversion rate at each stage of the process is vital to setting realistic goals.

Cost effective marketing

Set a target of getting through to decision makers, it may be 10% or if generated via exhibitions it can be as high as 50%, because it is not a cold call! In fact a lot of the contacts can be incoming so if those calls generate a  meeting from 25% of these conversations, the numbers will stack up.

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Read more: ROI from Lead Generation