The key to sales negotiation
Selling the benefits
Ever wondered if you can combine your selling techniques with negotiation? Well yes you can, Successful selling requires you showing your customers how your product meets their needs. Highlighting your product’s benefits in quantifiable terms is more likely to result in a sale than simply describing its feature of the product or service.
Sales negotiations are similar to business deals, in that you have terms that you would like the buyer to meet. However, it is a bit different because a buyer may have low interest in purchasing a product at the outset, but after they speak to sales people, who can offer good reasons why they should buy, may become convinced and make a purchase. In this case, you will need ways to counter the buyer’s reluctance for making the purchase.
For example: A feature of a product can be described as a kettle with a 2000 watt element, but this will not make the customer buy it. To sell it you must focus on the other key benefits and what the customer needs. When you tell a cafe owner who needs to make tea and coffee a lot faster than the average person, that you have a kettle that can boil water in less than 60 seconds, you are telling the cafe owner that you have a rapid boiling kettle and you are instantly solving their need.
To understand how to exploit these benefits as a sales tool place yourself in the shoes of the customer. Ask ‘so what?’ to each benefit and then make sure that the answer illustrates how your product’s benefits can help solve a problem. This way you can get your customer more excited about your product if you talk about it like you know exactly what they need.
However, the key is not to talk too much about your product, but also listen to what the customer is saying and what their needs are. Have a normal conversation with them at first, get them and yourself relaxed, and break the ice. This will lead to a much more convinced customer.
Before you start talking about your own product, it is crucial to ensure that the customer understands all of their needs and what would best solve them. Make your customer verbalise their needs. You know what problems your product will solve, so ask if they are experiencing these problems. Then explore the solution your product offers to their problem. When they finally understand how your product will solve their problem/ need, only at that point can you get them to see, very clearly, that you have the solution.
Another key factor is to quantify the benefits you are offering, especially if you can tie this with testimonials from satisfied customers. This can become a very powerful key to convincing your customer that the need your product or service and that your product/service will solve their problem.