All too often, salespeople believe that having good negotiating skills means that they get what they want every time. And while this is partially true, to be a really good negotiator, you also have to make the other parties feel satisfied with the outcome and build strong bonds with customers, suppliers and other participants as you do it. Here, we look at some of the most essential skills and strategies required for effective negotiation.
Before you go into the meeting room, you need to know which of your variables are negotiable. For example, are you willing to give ground on time, cost, experience or scope? And if so, how much?
It’s also crucial to consider which areas you want to prioritise. Focusing on these key points will help you when it comes to making concessions and ensure you come out of the meeting room with all your essentials intact.
Implementing the B.R.A Technique will help you prepare for a negotiation and get in the right frame of mind for your discussions. Essentially, the method involves setting three core objectives for your talks.
○ Base Expectations: These are your minimum acceptable terms, the things you can’t leave the negotiation without.
○ Realistic Goals: Which objectives do you think are realistically achievable? Make these your core negotiation goals.
○ Aspirational Targets: It’s always nice to come out of a negotiation with more than you hoped for, so make a list of ideal outcomes and see how close you can get.
Using the B.R.A technique to guide your negotiations should help you plan your tactics, identify your priorities and achieve your goals.
The way you approach your negotiations will be heavily influenced by the other party’s behavioural style. Flexing your approach to counter or complement their style should help you get good results.
The most common behavioural styles are:
○ Driver
○ Analytical
○ Amiable
○ Expressive
If you have an opportunity to meet with the other party before the negotiations begin, you should be able to get a feel for the style they’ll choose. If this isn’t possible, you’ll have to be prepared to react quickly on the day.
Active listening is incredibly important in any negotiation. As well as showing the other party that you’re fully engaged, it also gives you the opportunity to pick up on subtle signs and signals.
When practising active listening, try to maintain eye-contact, avoid interrupting and don’t start planning what to say next. Showing empathy when active listening is a good way to build trust and rapport with the other party.
When it’s your turn to speak, try to be clear, concise and straightforward with your communications. Use non-verbal cues, like body language and tone, to get your point across and create a relationship with the other party.
At the end of a good negotiation, both parties should leave feeling satisfied. Focusing on mutual interests and finding creative solutions to any problems you encounter should help you find a solution that benefits everyone.
Good communication skills can help your organisation to achieve its goals while building strong professional relationships with the other parties. To learn more, and find out how our development and training can help you and your team achieve its negotiating goals, get in touch with PDW today.
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