Negotiation and Closing Strategies

Learn how to use the sales cycle and come fully prepared with strategies and tactics to the negotiation table.

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Description

Welcome to our course on Negotiation and Closing Strategies! Throughout the modules of this course we will go through how to use the sales cycle and prepare for the negotiation, how to win the negotiation, and how to use the win to increase customer satisfaction so the next negotiation is even more successful.

In Module 1, we are learning about the sales cycle and going through the content of the course.

In Module 2, we are focusing on the Preparation Phase. The likely winner in every negotiation will most likely be the team who spent the most time on preparation. We will learn different techniques and strategies to prepare for the negotiation. The areas that are highlighted in this module are:

  • What Drives a Purchase Decision

  • Negotiation Roles

  • Preparing Negotiation Strategies

  • Influencing the RFQ

  • Understanding Competition

  • Prepare a War Room Team

  • Fulfill the Customer's Must-Haves

  • Identifying Value Drivers

  • Understanding Time Constraints

  • Understanding the Bargaining Zone

  • Understanding the BATNA

  • Plan Concessions & Asks

  • Prepare more than one Offer

  • Build Rapport

After having learned about these areas we are prepared to implement our strategies and tactics during the negotiation.

In Module 3, the focus is on the Negotiation Phase. The Negotiation Phase is the time to deploy the tactics from your negotiation and commercial strategies developed in the Preparation Phase. The areas highlighted in this module are:

  • Manage Expectations

  • Useful Negotiation Strategies & Tactics

  • Listen and Observe

  • Manage Biasing

  • Focus on TCO and not Price

  • Avoid the Commodity Trap

  • Persuasion Techniques

  • They are 20% Cheaper than you...

  • Useful Phrases

  • Closing the Deal

  • To Leave or Not to Leave

  • How to Manage Tough Wins

We have now signed a good deal and it is time to build customer satisfaction during the last phase of the sales cycle.

In Module 4, we are focusing on the Evaluation Phase. After the negotiation, you should focus on key learnings and implementation. This phase is essential for customer experience. The areas highlighted in this module are:

  • Key Learning Points

  • Deliver on Commitments

  • Organizational Update

  • Other Areas that influence Customer Satisfaction

  • Upselling

Finally, in Module 5, we are summarizing the course. The areas in this module are:

  • Case Study

  • Self Reflection

  • Test Questions

  • Course Summary

  • Further Reading

By the end of this course, you will have a comprehensive understanding of how to plan your negotiation and you will have learned different strategies and tactics to win the deal. I hope you will enjoy the course and have fun along the way!

What You Will Learn!

  • How to optimize your chances of winning by utilizing the three stages in the sales cycle
  • Understand what drives a purchase decision and what you should focus on
  • How to prepare your negotiation strategies
  • How to understand and map competition
  • Understand procurement scoring systems and how you can improve your win rate
  • Strategy and tactic preparation that will improve your win-rate and profitability
  • The importance of concession and asks strategies and how to map them
  • An introduction to Bargaining Zones and BATNA
  • The importance of preparing more than one offer
  • Different tactics to build rapport with the customer
  • Understanding procurement and competitor tactics and how your should counter them
  • Why you and the customer should focus on TCO on not price during negotiations
  • Different persuasion techniques, closing techniques, and useful probing questions
  • How to manage claims that competition is 20% cheaper than you
  • Negotiation techniques to close the deal and strategies how to manage tough wins
  • Why it is important to focus on learning points after a negotiation
  • How to improve customer satisfaction
  • How upselling strategies will help your business case during the post-sale phase

Who Should Attend!

  • Sales Professionals and Leaders in B2B industries