Join our next Key Account Management masterclass

Join our next Key Account Management masterclass

Create a stronger and more profitable relationship with your customer with our Key Account Management course on March 6th - 8th. This course is for people who have responsibility for managing strategic relationships with clients.
Lead & Motivate Your Team

Lead & Motivate Your Team

Do you create an environment that motivates others to perform? Join Mercuri's Leading and Motivating the Team professional masterclass on April 17th - April 18th. Ideal for all managers who achieve their objectives through their team. Develop a guide for adapting your leadership style.
Sales Development Programme of the Year!

Sales Development Programme of the Year!

Great result for the Virgin Holidays "Selling At My Best" programme at the 2017 British Excellence Sales Management Awards. Discover why delegates left this tailored in-house programme feeling so energized.
Performance Management masterclass

Performance Management masterclass

Do your team members have their own performance plan? Do you have a template for improving performance? Join this Performance Management masterclass on April 24th - 25th. Align capability and activity to business objectives.
Accelerate sales growth with improved sales activity planning

Accelerate sales growth with improved sales activity planning

Join our next Sales Activity & Pipeline Planning masterclass on May 22nd at the London Heathrow Crowne Plaza. Develop a sales plan that will help you manage existing customers and find new opportunities.
Simply outstanding customer service by Electrolux

Simply outstanding customer service by Electrolux

Teams excited and engaged about Customer Service at the Electrolux Academy. Mercuri work with Electrolux on a programme designed to grow their new team members, retain and develop their talented sales and service teams.
Social Selling as part of your Sales Strategy

Social Selling as part of your Sales Strategy

Talk to us about Social Selling in the Sales Process. From new customer acquisition to Key Account Management, find out where social selling makes sense and how to improve your social selling success.

Taking Sales to a Higher Level

Back

Beat your negotiation blues

Negotiation demystified

Negotiation happens when the Buyer’s need to buy meets the Seller’s need to sell. Negotiation evokes fear when it is wrongly equated with bargaining, which is just one component of negotiation. When a salesperson is unable to convincingly demonstrate value, the Customer straightaway gets into bargaining on price and terms

Four step Formula to Successful Negotiation

1. Preparing

Three critical elements - Home work prior to negotiation is critical. This should be around three critical elements of a sale:

(i) CustomerThings to know about our customer must include: What is the problem the Customer is trying to solve? Who takes decisions? Who influences decisions? Who can stop decisions? Who can postpone decisions? Do we know all these stakeholders? Do we understand & manage their expectations and perceptions right

(ii) Competition -   Who are they? What is their current situation? What has been their behavior? How will our offer compare with theirs

(iii) Our offerWhat are our priorities? How important is the deal/client to us? What are the long term implications? Most importantly what will be our Walk Away? Preparation should include a set of non-negotiable thresholds. You must be willing to walk away if those are not met. Walk away, however, does not mean a sullen withdrawal. Nor is it an admission of defeat. It is a tactical retreat to avoid a loss making deal.

2. Discussing This would mean exploring positions and interests both ours and the Customer’s

3. Proposing alternativesIn this phase we propose alternatives. But no commitments are offered

4. Bargaining To reach an agreement, we should know how much we can afford to give away. Bargaining covers a whole range of issues such as terms and conditions, after sales service, warranty, training, annual maintenance and not just the price. You should have a range within which negotiation is feasible for each of these issues.

Find out more about Successful Negotiation

Please call +44 (0) 330 9000 800 or email ukinfo@mercuri.co.uk to receive our Negotiation whitepaper.