Important Tips to Negotiate With Your Clients
Know the boundaries: Understand your boundaries before you start negotiating. Answer these questions to get yourself ready:
- What are your targets with this deal?
- What is the least that you will accept in this deal?
- What are the compromises which you are willing to make or present?
- Would you be accepting trade in place of money?
- What would be the point where you will leave the deal?
A person who is an expert negotiator knows people mostly dislike negotiating. That is why they choose to negotiate and get to the terms with the client on real time because they are smart enough to know that they can get what they really want only at this present moment.
Thus, it is always better to go armed with the boundaries in your mind to make a successful negotiation.
You may face an incidence while in the middle of the deal where the question may arise for which you have not prepared the boundaries. In such cases, explain the other party politely yet firmly that you will study the number and get back soon on the same.
Do Research: It is always better to hold strong proof to communicate that the offer which you have made is fair and realistic.
You can do that by focusing on the following points:
- Enquire with the peer about their estimate for the project.
- Connect with your competition to know their quote.
- Compare the charges for the similar projects from past.
- View testimonials, pricing and reviews online on such similar services.
After looking into this if you find that your offer is significantly different from the rest of them then seek for an explanation to prove your point.
If you feel embracement while asking for discount then remember, “the answer would always remain no, unless you ask for it.”
Negotiate up: A smart negotiator always works furiously on not losing his grounds. You may try these simple methods in order to negotiate your client up.
A freebie deal: In place of reducing the price for the project, try to present something free to make the deal sweet and negotiable. Obviously you need to take care that the freebie is worth from vantage point of both the parties, but if it can help in saving the deal, you should still move ahead with it.
Package Deal: In case you are offering a package deal then make sure to add some discount to the package.
Commitment: While making a deal makes sure you offer certain commitment in regards to future services in relation to the deal. This works well to get repeated projects.
These are just a few simple and smart tips to be a great negotiator on the professional front and define your rate of success in your company.