Negotiation is an integral part of the sales process. The goal is to move closer to what both parties want, creating a win-win outcome. The best sales professionals and negotiators are 3 times more likely to achieve their quota and target deal size, and they’re 12.5 times more likely to be fully satisfied with the deal’s outcome.

How can you negotiate better? According to Sushant Shekhar, the founder of SalesBlink, you can apply some proven sales negotiation strategies. We discuss her thoughts in this issue of PromoPro Daily.

Be prepared. This is rule number one when it comes to sales negotiation. You should always know what you want to achieve and anticipate the questions and objections the prospect may bring up. Shekhar says you should also have a strategy in place for how you plan to approach the negotiation.

Listen actively. Pay attention to what the prospect says but also watch their body language. You can learn a lot about their feelings and attitude from subtle cues. Shekhar recommends showing the prospect you’re engaged and interested in what they’re saying, which can help you build trust and encourage them to continue talking.

Let prospects speak first. Letting prospects speak first is a sales negotiation strategy that can effectively get the best deal for both parties, Shekhar says. By allowing the prospect to be the first one to express their needs, you can get an idea of their starting point and negotiate from there.

Bring forth the customer’s pain. This requires asking open-ended, probing questions to gain insight into the prospect’s needs and wants. Focus the questions on meeting the customer’s unique situation so that you can determine which products or services best meet their needs.

Use numbers to explain product value. Shekhar says using numbers to explain product value is an effective sales negotiation strategy because it helps to make the value of a product or service tangible and quantifiable. In addition, by using numbers, you can provide concrete evidence of the product’s worth, which can help build customer trust.

Handle objections. You might get a straightforward “no” or you may get questions or hesitation. Always listen to the prospect’s objections thoughtfully. Acknowledge their concerns and provide a solution.

Build value. Building value is a great sales negotiation strategy because it helps create a win-win situation for both parties, Shekhar says. When you build value in a negotiation, you make the other party feel like they are getting a good deal.

Manage emotions. It’s always important to keep emotions in check during sales negotiations. There’s a lot on the line for you and the prospect, so stay calm and collected. Doing so can prevent arguments from forming or disagreements from escalating. Shekhar says it also allows for a more open dialogue between the two parties.

Negotiating is not about “beating” the prospect, but about proving your value and arriving at an outcome that benefits everyone involved. Though negotiation can feel stressful, try following the strategies above. They can help you engage in more productive conversations and seal the deal faster.

Compiled by Audrey Sellers

Source: Sushant Shekhar is the founder of SalesBlink, a cold email automation and leads generation platform.