Sales and Channel Management
Autor: Sakshi8Dalal • June 13, 2015 • Creative Writing • 468 Words (2 Pages) • 1,017 Views
Date – 01/04/2015 | CEO: Anish Sharma |
Group and Cohort – Group 6 | MGB | SBR 1 | Team Members: Ameya Sonkusale, Pooja Murthy, Sahil Gupta, Sakshi Dalal, Yibo |
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Some of the common problems faced by the sales team in any company is the major demand for concession on the products by potential customers. Generally, this would often result in profits but at the same time triggers more demand for future concessions, while not offering any concession could cost companies to lose good business.
Our team analysed the article and discussed key points that would result in win-win situation for the customer and the company. Below are the strategies for negotiating with difficult customers:
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- Explore all the variables before negotiating: Negotiations take up resource costs, money and time. Invest on all the variables only if it can positively influence the business and build/preserve relationships. Avoid those that cause unreasonable wastage of these variables.
- Listen and explore the customer’s agenda and needs: This can best be summarized as “seek to understand”. Understanding and carefully listening to the customer’s needs and requirements always result in the best businesses. Once we try and understand what the customer is really looking for, we can put together a sales proposal that could result in a successful deal.
- Always look to preserve the customer: Customer loyalty could always result in wonders for a company, in the form of new customers (through word of mouth affairs) as customer paths always tend to cross frequently. If the negotiation is on with a long term customer then it is of paramount importance to preserve the relationship as it is 5 times harder to retain the existing customer than cracking new ones.
- Establish and preserve the company’s credibility: Support and substantiate any stand that we take with appropriate foundations. Keep in mind the company’s interest and express the same to the customer in the most subtle way.
- Always hold the nerve till the end of the negotiation process: Always be specific by putting the stand that we wish to adopt and never give in to the emotions of negotiations.
- Manage the concession process such that we don’t give them away without getting anything in return: Always learn to break deadlocks in any negotiation. This is however the last but the most important step in any negotiation process i.e. negotiating the final terms of the deal. Always offer terms of discount and concession in a realistic manner keeping in mind the impact this may bear on the company as well. Make reasonable concessions and offers that result in a complete “win-win situation” for the customer and the company and move forward towards sealing the deal.
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