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8 questions to ask yourself before every trying to negotiate with a customer
When you get a big client on the hook, they will always get into negotiations, and if you're not ready for a lot of what they're throwing at you then you're going to settle on a much lower number than you intended to. Some companies even settle for numbers that don't make them any profit, but they still have to do a month of work, and that's never going to be the way to run a successful company.
In this discussion, I'm going to go over the top 8 questions you need to ask yourself in order to know what you have up your sleeve and also to know how to negotiate in order to get the best deal that benefits both parties.
What is your biggest asset to be used in the negotiation?
If you don't know what your biggest asset it, it's likely your product or service helping out the person purchasing it, and you can always use this to your advantage. They're contacting you because they want to make a purchase, but they're going to try and squeeze out what they can and get the best price for them possible.
What quality will help you the most when negotiating?
You need to be able to read your potential customer and know what type of person they are. After you can do this, you will understand what type of quality you need to show in order to get the sale finalized. Some people work better with cocky sellers while others need their hands to be held through the process which means you need a more gentle approach. After you can read the customer you will be able to close more deals which will increase your profits
Does your ego play a role within your negotiations?
When you're boosting up your own ego within the negotiation, you will notice that you're not selling as much as possible. Now, if you're boosting the customers' ego, you will tend to close much more deals than before. This is because you're boosting up their confidence, their ideas of profiting, or just putting something in their house that they really want
Do you have the "need to please" come up in negotiations?
If you feel that you always have to please your customers, you may want to rethink your approach, because you will be taken advantage of more than you think. If you want to please everyone you can, you'll quickly realize that no one is ever happy when parting with a large amount of money, and that means you're always going to be pleasing people while losing money.
Pleasing people is a good thing, but you should be making them happy with your products or services, not the price you tag onto them.
Do you have any leverage going into your negotiations?
If you don't know if you have leverage, you should ask yourself is your customer needs your product or service, if the answer is "Hell yeah they do!" then you have leverage lol.
You can't force someone to purchase from you, but you can show them that they need your product or service in order to make their own websites or businesses better, and that's your leverage.
Do you actually know how to negotiate?
Many people don't actually know how to negotiate, but they think they're the best at it, and it's actually a little funny when they try to do their work. If you don't know if you're good at negotiating, you're likely not, and you should go around YouTube or any platform where you can learn the art of negotiating in the quickest timeframe possible. The quicker you learn, the quicker you can test your new skills, and the quicker you'll make money from it.
How are you going to show your value when negotiating?
If you're selling an SEO service, the Value is increased rankings and more traffic to your customers' website that will result in more sales for them. If you're selling a lamp, the value is your competitive pricing paired with the best illumination for a room, which is what people are searching for. Know what your product or services value is and you will easily be able to close some deals quicker than before you knew what you were doing
Should you take a break with the negotiations?
Bigger ticket items tend to go a few rounds of negotiating before anything is signed over. Taking breaks within a negotiation is pretty normal unless it's something like an SEO service that can be negotiated within an hour, so just understand how long your negotiations should take and break them up if needed.
Negotiating is a part of everyday business, so get used to it if you're selling anything because it's a method to get the best price that isn't going away anytime soon! If you're good at negotiating, you likely know most of what I mentioned above, but if you're not good at the art then I hope I've helped you with the words I've written
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