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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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

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!