Knowing how to sell is a vital ingredient for business success. In simple terms, effective sales and negotiation techniques include listening carefully to what the customer wants as well as persuading them to buy. Once you've got both those elements, you can close the deal to mutual benefit.
Focusing on the customer
A successful sales process starts by looking at the customer and what they want, rather than just telling them what you're trying to sell. Understanding the needs of the customer allows you to present your product or service in a way that meets the customer's specific requirements.
This kind of solution selling is a far more powerful selling technique than simply delivering a general-purpose sales pitch. Your sales message can highlight exactly how your product suits your customer, emphasising the points where you have a competitive advantage. Knowing what the customer wants means that you will be in a strong position to explain the benefits of what you can offer.
The more you know about the customer's position and what your product is worth to them, the more likely you can prove its value to them. Every product feature can be translated into a competitive advantage - and a benefit for the customer.
Dealing with objections
Good sales skills include anticipating and dealing with any reasons the customer may choose not to buy, known in sales terms as objections. It can be worth raising common objections yourself as a part of your pitch in order to overcome them and ease the buyer’s fears. Don’t be afraid to talk about the customer’s concerns - that will give you the best chance of changing their mind.
Another important sales skill is knowing how and when to close - so it’s important to pay attention to your customer and identify the moment when they are ready to buy. Push them too early and you could lose them; at the same time, don’t miss the buying signals and lose the sale by doing too much talking.
Negotiating a great deal
Selling techniques often focus exclusively on winning sales. But knowing how to negotiate the right terms is important too. As with all aspects of selling, negotiation should start with understanding the customer. What's the problem that they're trying to solve through buying from you? And how much value do they attach to that? The good news is that most customers are far more interested in talking about themselves than in hearing about you and your product - so use that human trait to your advantage.
You should also be clear about your own position. What would be an acceptable compromise for you to close the sale? How important strategically would the sale be? And what would make it a bad deal for you and therefore be the point of no return?
If your customer believes that you're working with their interests at heart as well as your own, they're more likely to be more honest about what they view as their alternatives. And this in turn allows you to do the same - making for a more positive environment to do good business.
Successful negotiation results in a coming together between buyer and seller - ideally both you and your customer should have a sense of achievement as you shake hands on the deal.
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If your customer believes that you're working with their interests at heart as well as your own, they're more likely to be more honest about what they view as their alternatives. And this in turn allows you to do the same - making for a more positive environment to do good business.
Successful negotiation results in a coming together between buyer and seller - ideally both you and your customer should have a sense of achievement as you shake hands on the deal.
