You got this call; an exciting business prospect to provide services for an Oil & Gas firm. You’re awash with excitement. This is supposed to be the big deal for you. If this deal closes, your business would move to the next level. You really want this. Apart from the financial returns you can already imagine the referrals and social proof this deal will get you.
All you just need do is close the deal. But somehow, it falls through, and you are left reeling in pain.
What went wrong? What could have happened? How did the deal go sour?
Closing deals is not just a random thing. It is a special skill learned and honed over time by people who want to be successful. This article shows us how to actually negotiate and seal a deal.
Put Your Best Foot Out
The fact is that if you are going to get the best out of any negotiation process or any deal, you must ensure that what you are bringing to the table is top quality. Ensure you understand your competitors and offer a better service or product at the same price range. Also, remember that not everyone will buy your product, so study your market. When you have confidence in the product or service you’re offering, you’ll be more confident in your negotiations.
Stand Out
In a bid to achieve this, you must understand the need to be innovative. Your business model has to be top notch and unique.
What are the best negotiation techniques to close a deal?
By taking the right steps, you can close a sale even with customers/clients you thought were impossible to convince.
1. Be impassive: You must learn how not to show off your feeling of nervousness or impatience. There’s nothing worse than your prospects detecting this aura from you. So, focus on mastering your sales pitch, ignoring the pressure even if you are in a hurry.
2. Don’t get upset: Remember that sometimes your customers/clients may simply need your product/service without even knowing all the details. It is normal for you to feel frustrated, but do not take it personally. Always keep your emotions inside of you. Keep your professional approach and you will close the deal.
3. Focus your speech on your client: When the conversation starts to get out of hand, the main thing is to redirect the dialogue towards the client himself or herself. Try to understand what he or she likes to engage with your prospect. This will break the ice. When someone talks about its concerns, it is much easier to present your product/service to answer his or her particular needs.
4. Learn a lot about your client: To find out what goals your potential customers are looking for, just ask them. Ask them to explain to you what their goals are the year, or semester, to come. You will then be able to align your sales pitch to their needs and create a feeling of confidence that will help you to close the deal, even with the most refractory prospects.
In closing deals, you must understand that you will meet a lot of people with different personalities and behavioral attitudes. You must know how to deal with each person effectively to achieve your aim.
At Knight & Bishop, we help guide bold and audacious entrepreneurs as they make business decisions. Our job is to support your business on its growth trajectory through advisory and hands on assistance as you build. Let’s get talking today.