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Worst Negotiation Mistakes and How to Avoid Them - Tips for Sellers

13 October, 2016

Worst Negotiation Mistakes that we Tend to do and learn how to Overcome it?

Tips for Sellers on how to empower your selling and communication skills while dealing with a potential customer.


Negotiation is considered to be both an art and science when it comes to selling skills.

It reflects that one has to be creative and intuitive on one hand and well aware and knowledgeable at the other hand.

We all tend to make some deadly negotiation mistakes especially in our nascent stage of selling. We can avoid these mistakes by learning from the mistakes of others instead of making it ourselves and experiencing some losses.

 How to Master the Art of Sales Negotiation using Psychological Strategies.

So we have decided to present to you the problem along with the solution underneath:


Worst Negotiation Mistakes by Sellers commonly Found in selling process
Worst Negotiation Mistakes Done by Sellers Commonly

1. Not being Aware of the Market Trend


If you are not aware of the market trends and not updated about your industry happenings you will land up either over quoting or under quoting.

You will also loose points for being an amateur or ill informed and it will reflect in the deal that you are closing. They will also judge your expertise, company’s reputation and credibility with such an image being projected by you.

Keep yourself aware about the day-to-day updates in your industry to escape from making any such blunders.



2. Sounding more Cunning



No one will spare you for being a Fox while doing a negotiation. Everyone is looking for the best deals so is the other party. Instead of trying to act or sound cunning better bring out how the other party is getting the best deal at a price that you are pitching for.

Tell them how it is benefitting them and what all they are getting so that it’s a win-win situation. Talk about their benefits instead of sounding greedy. They will not only be impressed but in this way you hold more chances to convince the other party that you care for their interests.

 



3. Loosing it to the Greed



There is a good old proverb “ Greedy eaters dig their graves with their teeth”.

This exactly greed would do even on your negotiation table. Clearly you will loose the deal. You need to be genuine and reasonable. If you are over priced then you should know your customer that he does not care for price but quality and be able to justify your price with the quality or standards of your offerings.

You as an owner have all rights to price your offerings according to you but clients as a customer has all rights to be able to see the value and worth of your offerings.




4. Ignoring the Body Language of the other Party


After a certain point of time body language can make or break the deal. Though you have to be attentive about it since the beginning but it becomes all the more crucial towards the end. 

You can decide and access the customer’s inclination up till now and proceed accordingly. 
It is a must to understand the body language as it can help you to deal at a mutually agreeable price and conditions.




5. Not being Able to Read Between the Lines



If you are able to read between the lines you would get to know what is running in the client’s mind. You should be receptive to all said and unsaid signals that are being sent throughout the conversation in the whole meeting.

Most of the time you will come to know - if you pay close attention to the clients signals -even before he says affirmative or negative about your offering .

And thus you can immediately suggest him some alternative plans which you think can be acceptable for him or else if he finds the deal attractive you also have a chance to upsell and cross sell.

if you get to know what he is signaling passively.

Thereafter you can adapt and present the offerings in a manner that you feel will best suit to the client and he would find it enticing enough to not finalize it.



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