Everything from business deals to visiting a local flea market will require a certain sense of negotiation. Sales negotiation in this instance is the ability to conference with a buyer or seller and get the maximum benefit of the deal possible, all while suffering minimal losses in return.
There are some tell-tale signs of vulnerability that should be brought to a buyer's attention. First, a buyer should never indicate to the seller that htey have an undeniable need for the service or product, a time constraint in which they need it, or even comment on how previous products or services haven't worked out. This will show the seller that a certain sense of desperation is present, which equates into less forgiving offers.
When a sales negotiation runs too long, there is a certain degree of anxiety that is going to be present. This may be used to the buyer's advantage in making the seller tire out and succumb to a better deal, but keep in mind that this usually has a negative impact on business relationships and instead buyers should focus on keeping the negotiation short in length. The buyer should keep focused on building a solid sales negotiation, not pressuring a seller into a better sale through shady tactics.
A friendly way to get the ball rolling, even if the seller isn't aware of it, is to invite the seller to some type of social activity. Lunch, for example, is a great way to allow the buyer judge what type of person the seller really is. This aids in the ability to guess beforehand what the seller is capable of, what the seller will likely request, and how the seller will do it. This act allows the buyer to formulate counter-offers even before the sales negotiation takes place. Keep in mind the seller may be doing the same thing, and to give out relatively little information while still being friendly.
Sometimes it isn't such a bad idea to take the example of car salesmen. A car salesman will commonly resort to tactics that make an offer seem final, but keep the tone of negotiation on light terms. This is sometimes done through deferring the blame to a superior. When pressed for a lower price, stating that one's superior has only allowed for a certain price drop will let a seller remain firm, yet also keep the negotiation atmosphere on friendly terms.
Power in negotiation stems from whichever side has a strong walk-away position. Both parties usually try to stress that the other party needs them - and the one with the greatest need usually takes the undercut. Needing to close the deal on the table usually comes from having a weak second to best offer. So build up a good second option, and you'll feel the pressure lift from your shoulders. Following the above tips and staying confident will do wonders for your negotiation outcome, although professional negotiation training and reading books on the sales negotiation are almost mandatory for getting the process down to a science.
In Conclusion
Psychology, etiquette, and personality play a large part in which way a sales negotiation will sway. Maximizing each of the three factors to your best ability will allow you to attain success in the negotiation room, maintain good business partners, and ultimately to grow your company into a more powerful entity.
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