21 Negotiation tactics that will help you close any deal! Part 2 (11-21)

Last week, we shared part 1 of our list of 21 negotiation strategies that will help you close any deal like the best sales pro in the world.  Today, we cover 11-21.  We hope you find these helpful whether you're negotiating a sale with a customer, a price on a new car, or even negotiating with your spouse where to go on your next family vacation! 

By the way, if you do it right, you're negotiation won't require a baseball bat like in this photo!

11. Ease their pain.

Know their pain points and show them that you’re genuinely trying to alleviate those.  They’ll appreciate it! 

12. Negotiate small to big or big to small.

Depending on how strong your position is and how much leverage you have, you may want to negotiate the biggest item first (and everything else will logically fall into place after that.)  Or if you have a hard sell in front of you and want to break the ice, get them to say ‘yes,” to several tiny, almost inconsequential items first.  So what if you and the car dealer are $20,000 apart on the asking price – you negotiated the cost of the floor matts, the stereo system, and know your color is in stock!  Believe it or not that helps keep the ball rolling.

13. Float a balloon and then pop it.

This is a fantastic tactic early on in the negotiation or to earn someone’s trust you don’t know.  At some point, propose something, but then immediately take it off the table, explaining that it makes no sense for them and you wouldn’t even consider it if you were in their shoes.  They’ll be pleasantly stunned that you’re thinking of their best interests and looking at things through their viewpoint, and the rest of the negotiation will take on a more favorable tone.

14. Timing is everything.

Don’t just reach for your desired outcome today, but keep an eye toward the future.  If you think you’ll want (or be deserving of) a pay upgrade six months from now, ask for a performance review then based on certain performance targets or incentives.  On the other hand, if you want to lock in favorable terms, then ask for a long-term contract. 

15. Watch your body language and tone.

Remain open and neutral with your body language, avoiding defensive or aggressive positions.  Likewise, keep a cool, calm, and friendly, and even tone.

16. Meet at your office or a neutral location.

Human beings are territorial like any other animal, no matter how much we think we’re evolved.  By meeting to negotiate at your office, your home, or a neutral location like a coffee shop, you’ll establish a subtle shift in power, or at least take away their unspoken advantage.

17. Silence speaks loudly.

We talk too much.  Especially when we are nervous or stressed or trying to convince someone, we tend to open our mouths and blab.  So when you first propose a price or salary or whatever number it is you’re negotiating, say it and then close your mouth and shut up.  Don’t say another word until they say “yes,” “no,” or ask a specific question.  They may hem and haw, and you’ll have to resist the overwhelming urge to jump in, but you’ll be amazed how silence is your best ally in leading them to a concrete answer.  By speaking, you’ll only let them off the hook.

18. Listen. Really listen.

Most people listen with the intent to speak forming in their heads.  Instead, actively listen to your counterpoint during a negotiation.  Focus on what they are saying, encourage them with non-verbals like shaking your head, look them in the eyes, jot notes, repeat key points back to them, and ask exploratory questions to get deeper into their pain points, goals, and desires.  They art of listening will help you close a favorable negotiation a million times more than anything you could say.

19. Keep a 10,000-foot bird’s-eye view.

Too often, we become fully engaged and embattled in the little stuff, without stepping back and looking at the big picture with perspective.  As you negotiate, be sure to ask them about their ultimate goals with their business and what they’re trying to accomplish.  Refer back to those goals often as you delve into the negotiation, showing how you’ll help them reach them.

20. Reach safe plateaus.

As you negotiate, establish psychologically safe resting places where everything is agreeable and you can move on.  Think of mountain climbers setting up a safe base camp for the night to rest before moving on.  So ask them if everything looks good and is fine and agreeable so far, and if you get their confirmation, you can move on with a great foundation to build on. 

21. Bring in a third party.

If a negotiation stalls it might not be because they don’t want to close the deal, but that you just can’t offer what they want.  Instead of walking away, think about bringing in a third-party to offer exactly what you are missing.  A win-win-win is just as good as a win-win!  Think of this like baseball general managers bringing in a third team to make players and salaries match up during a trade.   

21 Negotiation tactics that will help you close any deal! Part 1 (1-10)

We negotiate just about every day, whether we realize it or not.  We may be negotiating salary with a new employer, with a contractor to fix something in our home, or even negotiate for our children to brush their teeth and go to bed on time (the most difficult of all!)  The official definition of negotiation is: discussion aimed at reaching an agreement.  So negotiation really just entails the art of persuasion for a desired outcome.  There are certain basics tactics and strategies we can employ to help us persuade and negotiate like a pro. 

1. Don’t have an adversarial mindset.

Too often, we think of a negotiation as “us vs. them,” or a competition to put-do or get over on your counterpoint.  That is just counterproductive and disingenuous, and will hurt you in the long run.  Instead, go into the negotiation with the aim of achieving a win-win.  Your positive attitude will reflect on the outcome, I promise!

2. Never be the first one to throw out a price.

When it comes to putting the first number on the table, always make the other side go first.  Why?  If they throw out a number that is way too low, you plan on negotiating it, anyway.  But what if they throw out a number that is agreeable, or even higher than you were hoping for?  Believe it or not, that happens all the time, and that’s why you’ll see experienced sales people ask leading questions like, “What fits in your budget,” or “What would something like that be worth to you?”  

3. Don’t be emotional.

Keep your cool and never get too passionate or heated when it comes to your negotiation – that will only push them away.  Stay calm and collected and think of it as a nice exploratory chat between two friends to find out what works best for both parties.

4. Be willing to walk away.

You have to be ready to distance yourself from the outcome, or end the negotiation unresolved.  If not and it’s do-or-die to you, then you’re way too emotionally invested, and your desperation will show.  Remember that both parties want to feel they got a good deal or favorable outcomes, and if you are too excited or attached, they won’t get that feeling.  Be willing to get up and walk away if it’s not going well, either to look for better options or to give them time to think, but make sure it ends amicably.

5. Get them invested.

The longer you get someone to invest their time and energy, the more likely you are to close the deal.  Not only will you become familiar and psychologically comfortable to them, but also they will have more to lose by saying, “no,” and starting over again.

6. Ask for a value-add at the final bell.

This is a wonderful method to get a little more juice from the squeeze, so to speak.  Once you’ve finalized the big items and the negotiation is rolling toward a favorable close, ask them to throw in something extra, almost as a throwaway.  They are more than likely to say ‘yes,” just to get the deal closed and not backtrack, and they’re feeling good already.  So you just negotiated a price to have your car’s transmission rebuilt?  Ask for the next 5 oil changes to be free.

Likewise, you can add value at the end of any negotiation to prove the tipping point.  Offer to pay them in cash, write good reviews, work on days unpopular with other employees, or get them more referrals – it just might make the difference!   

7. Be specific with numbers and data.

When persuading your counterpart why they should accept your terms/price, etc., make sure to use specific data whenever possible.  There’s a big difference between saying, “Give me a raise because I help the department,” versus, “Give me a raise because I helped the department grow by 14% over my first year here and my team is closing 27 more sales a quarter than your average employee.”  Powerful!

8. Diffuse their risk.

No one wants to lose.  So make your terms or desired outcome more comfortable by diffusing their risk.  You can do this by offering a free trial to prove your worth or trying the proposed arrangement for 6-months before a performance review to reassess.  Also, commission or incentive-lased payment is more favorable to employers or clients because there is less risk.   Let them try it on for size!

9. Don’t waste their time and be honest.

Always respect someone else’s time and trust as if it were your own.  Once that trust is breached, you might as well give up.

10. See the market through their eyes.

Be aware of their competition, market conditions, and trends.  Are they so slammed with business they can't even answer the phone fast enough?  Or is it there slow time of the season when they' re stressed about not having enough income?  Timing is everything, so know their market and business conditions in order to better understand their mindset in the negotiation.

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Look for part 2 of this article next week, with tactics 11-21!