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5 TACTICS YOU CAN USE IMMEDIATELY TO CREATE BETTER DEALS


Do you need to brush up on your negotiation skills fast? Keep reading – we’ve outlined the five easiest negotiation tactics that you can use immediately to build better deals. They don’t require study or research to work.

Tactic #1: Woo your negotiation partner. Unless you’re doing a one-time transaction and you’ll never see nor deal with your negotiation partner again, there’s something more important than driving the highest profit margin. That’s making sure your negotiation partner will continue wanting to do business with you. So build them up during the negotiation process. Talk about how you are looking forward to working with them. Always be friendly and professional. Use your positive demeanor with positive comments to offset any negative reaction you’ll get from the other tactics we recommend.

That doesn’t mean, however, that you’ll roll over and give them whatever they want. In fact, it’s better to give them a run for their money. Consider a recent Harvard Business Review article which cited a study that found negotiators who took longer to reach an agreement were far more satisfied than those whose offers were immediately accepted – even if they received a better outcome.

Tactic #2: Flinch your way to deal that’s 2 to 3% better. Simply by reacting negatively to the other party’s position, you can save up to 3% a year, even if you use no other negotiation tactic. Whether your flinch is dramatic (an exclamation of surprise) or subtle (a sudden intake of breath), it works. If you’re up against an inexperienced negotiator, you are more likely to get concessions with this tactic. If nothing else, flinching makes room to discuss other options. However, if someone is using this tactic on you, don’t respond to it and remain firm in your position

Tactic #3: Throw junk. While wooing your partner, gently negate their offering so they question their price point. Could their delivery or terms be better? Is the product or service not exactly the perfect fit for your needs? Be sure to point that out.

Tactic #4: Limit your authority. This is an effective escape route if you’re feeling pressured to concede. Just tell your negotiation partner that you don’t have the authority to move forward (even if you do). Then you can buy time to strategize and make the right decision.

Tactic #5: Get a better deal with a nibble. When your negotiation partner thinks they’re on the brink of closing the deal, ask for a little something more to sweeten it. This could be free shipping, better payment terms, expedited delivery, and promotional items. Think about what your internal stakeholders would value most and ask for it.

Want to dive deeper? Check out 8 Smart Steps Procurement Pros Take to Maximize Negotiation Power. (Here’s a hint: This advice will work for sales professionals, too.) Like what you’ve read? Be sure to bookmark this page and send it to your colleagues.

Finally, this blog post barely scratches the surface of negotiation strategy. The best negotiators – the kind you don’t want to go up against – invest in training where they find out how to most effectively use these tactics, and many others, to win the best possible deal.