7 B2B Sales Negotiation Tactics You Can Use Today

B2B sales negotiation is the basis of most modern business transactions and being a skilful negotiator will ensure you can produce the best result in the form of profit and terms. Here are seven proven B2B sales negotiation tactics that you can use today.

1. Preparation is king. Before entering into the negotiation, you need to have digested as much information about your opposite number, and their company, as possible. Learn about who they have traded with in the past, their financial position and who their star sales negotiators are. Keep detailed notes or files on the party you are facing. It is a fair bet that they have done the same with you, so try to have all the facts you need to progress and keep the procedure as smooth as possible.
2. Negotiation points such as flexible contracts, or other concessions are useful tools when finalising a deal. Adding other value to a deal will keep negotiations away from the fiscal element until the time is right, and increase your bargaining power.
3. Don’t give anything away without asking for something in return. Concessions, such as discounting for the sake of it, show a level of desperation, which can diminish the other party’s perception of your solution’s value, as well as affecting your bottom line. A discount is a powerful tool, but it needs to be used to create an outcome for you as well as the customer, such as signing the order earlier, or have the customer act as a reference site.
4. Emphasise your interest. Give the other party the encouragement needed to continue talking and imparting information. This increases your level of control over events and strengthens your negotiating position.
5. Use open-ended questions (that can’t be answered with a yes or no) as well as closed. Ask questions and allow the other person to answer without interruption. Avoid interrogative ‘Why’ questions as they can appear aggressive. Encourage your opposite number to impart as much knowledge as possible.
6. Create spaces. Creating pauses within the negotiation tends to encourage your opposite number to speak, revealing more information that can then be incorporated into the discussions. The more information you have, the more leverage you can use as negotiations draw to a close.
7. Slow it down. The negotiating process is not a race. Many points need discussion. Rushing through will only lead to facts and nuances being missed. These missed points are lost opportunities to make subtle changes to the process, and this could disadvantage you when closing the deal. The B2B sales negotiation is a complex process. The key to success is being fair, equitable and respectful. Follow the points above, gather information and you will be in a strong position to reach a mutually agreeable solution. A properly thought out, well balanced and paced negotiation is far more likely to be successful than a rushed and ill-prepared procedure.