Seven essential negotiating tactics that increase the profitability of your sales by an average 15% to 30%, often more, without ever risking a sale. A three-hour masterclass for salespeople, account managers, directors, professionals and business owners.
2 March 2017
14:00pm - 17:00pm
“Your negotiating skills seminar has reduced the level of discounts given by our sales teams and increased the profitability of our companies. I love your training.”
Dr. Maggie Kessler, Director, Banner Chemicals and Surfachem.
Presented by Mike Kingston FInstSMM
Why this training is so effective
This training doesn’t set out to eliminate discounting all together – that could potentially damage your sales. What it does, and does exceptionally well, is teach you, and your sales team, the negotiating strategies and tactics that eliminate or reduce unnecessary discounting, price reductions and costly concessions.
Price is rarely the make or break issue
For the majority of sales, price is rarely the make or break issue, even though buyers may claim it is. The real problem is that the majority of salespeople won’t risk saying NO, for fear of losing an order. Buyers know this and exploit it.
You don’t need to reduce your price or give away concessions to win orders and contracts
Upwards of 30% of price conscious customers still buy if you’re skillful at holding your price and trading concessions, instead of giving them away. The greater majority will buy with a lesser discount when you apply the seven essential strategies and tactics of price negotiating. Only a small number decide a purchase on lowest price alone. With good negotiating skills even these can be made profitable.
The importance of holding your price
Every price you hold boosts your average selling price, and delivers a six to eight fold increase in your operating profit. Because your average selling price is higher, you gain greater flexibility to price, competitively when price is a deciding factor, to boost your overall sales conversion rate and revenue. When you negotiate correctly there is never a risk of losing an order or contract that you should have won.
What every Head of Finance will tell you about your selling price
McKinsey and Company, the leading business consultancy, reports that an easy-to-achieve 5% increase in average selling price typically delivers 30% higher operating profit for your business - often more. Consider what that is worth to your business in terms of re-investment, growth and business security. (This is for a company that currently achieves an 18% operating profit.) Conversely, when you give away 5% more than you need to, your contribution to your operating profit is 30% less.
Why your sales conversion rate and revenue increases
When you apply the negotiating strategies and tactics taught in this seminar, instead of risking sales, your conversion rate tends to increase. This may seem counter-intuitive, but consider this; when you give away discounts and concessions easily you devalue your products or services in the mind of the customer. When you negotiate professionally, and defend your prices, you increase perceived value. Customers value you as a supplier and value what you sell. They prefer to buy from you.
This course covers:
Seven key negotiating strategies and skills you (and your sales team) learn in this content-packed half-day seminar:
- How you set up realistic price expectations when you first meet a prospect.
It’s always best to start your price negotiation when you first meet a prospect or deliver a sales presentation, so they know what to expect later.
- How you increase the perceived value and importance of everything you sell.
When a buyer believe they gain 20% to 30% better value they are less likely to argue about your price. And it’s easier to achieve than you think.
- How you say NO to a discount or price reduction request without ever risking a sale. Yes, you can say NO and test the prospect’s walk-away position without ever risking a sale. I’ll show you how.
- How you use ‘reflective’ questioning, to encourage greater buy-in and agreement.
A subtle but highly effective questioning technique that embeds compelling reasons for prospects to buy from you.
- How clever trading halves or quarters the cost to your business when you are forced to concede a discount or concession. And why the last thing you ever do is cut your price, which burns your profit. Discover how to trade profitably.
- How you counter bullying buyers, who squeeze you for every last penny and concession and who expects you to match a competitor’s unrealistically low price. Discover how you test what they are really prepared to pay.
- How you make prospects believe they have secured the best deal, while you walk away with a profitable order. Learn the psychology of subtle influencing, to encourage prospects to buy from you, whenever you face strong competitors.
Other learning points in this seminar:
- Why controlling the ‘Anchor Point’ is critical to success
- The power of the word ‘IF’
- The proven way to turn around rejections and objections
- Essential pre-planning tasks that ensure you secure the best deal
- How to use a safe ‘walk-away’ tactic to test the prospect’s resolve
- How to answer difficult or challenging questions without damaging a sale
- Good Cop, Bad Cop tactics and how they help you to gain agreement