Negotiation And Closing Strategies

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

What you'll 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

Requirements

Beginners can join the course but it will be an advantage to have more than 2 years of sales experience in order to better relate to the topics and examples.

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 DecisionNegotiation RolesPreparing Negotiation StrategiesInfluencing the RFQUnderstanding CompetitionPrepare a War Room TeamFulfill the Customer's Must-HavesIdentifying Value DriversUnderstanding Time ConstraintsUnderstanding the Bargaining ZoneUnderstanding the BATNAPlan Concessions & AsksPrepare more than one OfferBuild RapportAfter 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 ExpectationsUseful Negotiation Strategies & TacticsListen and ObserveManage BiasingFocus on TCO and not PriceAvoid the Commodity TrapPersuasion TechniquesThey are 20% Cheaper than you…Useful PhrasesClosing the DealTo Leave or Not to LeaveHow to Manage Tough WinsWe 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 PointsDeliver on CommitmentsOrganizational UpdateOther Areas that influence Customer SatisfactionUpsellingFinally, in Module 5, we are summarizing the course. The areas in this module are:Case StudySelf ReflectionTest QuestionsCourse SummaryFurther ReadingBy 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!

Overview

Section 1: Introduction

Lecture 1 Introduction to Negotiation

Section 2: The Preparation Stage

Lecture 2 What Drives a Purchase Decision

Lecture 3 Negotiation Roles

Lecture 4 Preparing Negotiation Strategies

Lecture 5 Influencing the RFQ

Lecture 6 Understanding Competition

Lecture 7 Prepare a War Room Team

Lecture 8 Fulfill the Customers Must Haves

Lecture 9 Identifying Value Drivers

Lecture 10 Understanding Time Constraints

Lecture 11 Understanding the Bargaining Zone

Lecture 12 Understanding the BATNA

Lecture 13 Plan your Concessions and Asks

Lecture 14 Prepare More than One Offer

Lecture 15 Build Rapport

Section 3: The Negotiation Stage

Lecture 16 Manage Expectations

Lecture 17 Useful Negotiation Strategies and Tactics

Lecture 18 Listen and Observe

Lecture 19 Manage Biasing

Lecture 20 Focus on TCO and not Price

Lecture 21 Avoid the Commodity Trap

Lecture 22 Persuasion Techniques

Lecture 23 They are 20% Cheaper than You…

Lecture 24 Useful Phrases

Lecture 25 Closing the Deal

Lecture 26 To Leave or Not to Leave?

Lecture 27 How to Manage Tough Must-Wins

Section 4: The Evaluation Stage

Lecture 28 Key Learning Points

Lecture 29 Deliver on Commitments

Lecture 30 Organizational Update

Lecture 31 Other Areas that Influence Customer Satisfaction

Lecture 32 Upselling

Section 5: Final Areas

Lecture 33 Case Study

Lecture 34 Self Reflection

Lecture 35 Additional Test Questions

Lecture 36 Course Summary

Lecture 37 Further Reading

Section 6: Bonus

Lecture 38 Bonus Lecture

Sales Professionals and Leaders in B2B industries