Video: Effective & Ineffective Negotiation Techniques
Maximizing the value of the deal means mastering a variety of negotiation techniques. One of the most important negotiation techniques is trading.
A strong trading strategy enables the seller to maintain the momentum of the sale even when the customer presents late-stage demands.
In this blog post, you'll see examples of what effective and ineffective trading looks like, and get tips to improve your trading skills.
Ineffective Trading in Negotiations
Watch the video below to see an example of ineffective trading during a negotiation conversation. What do you think the seller did wrong?
In this example, the seller failed to:
- Come to the table with a confident and prepared trading strategy
- Balance what they are conceding to the client with what their getting in return
- Explore opportunities outside of discounts to meet the buyer's needs
Effective Trading in Negotiations
Here you'll see an example of a seller jumping on the opportunity to bring strong trading skills to a negotiation, and how using these techniques improved the outcome of the conversation for both parties.
Notice how the seller:
- Overcomes pricing demands by exploring the customer’s unspoken needs
- Builds and maintains rapport by focusing on achieving mutually beneficial outcomes
- Preserves the scope of the sale by asserting the value of the solution
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