{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Negotiation Tools, Tactics, and Strategies with Kristie Jones, Ep #207","description":"Do you have the right combination of negotiation tools, tactics, and strategies in your arsenal? Do you understand how important it is to develop negotiation skills? In this episode of the Sales Reinvented podcast, Kristie Jones shares some of her favorite negotiation tools. She also gives some sage advice about the negotiation process. Don\u2019t miss it!  Kristie Jones is the Principal at the Sales Acceleration Group. Kristie is the go-to expert for tech startup founders who want to accelerate their revenue by improving their sales strategy, process, and people. She uses her 15+ years of experience to help small and mid-sized technology companies take their revenue to the next level. Outline of This Episode [0:43] What is negotiation? [1:31] Why don\u2019t salespeople like to negotiate? [2:39] How Kristie uses anchoring in negotiation  [4:01] The attributes of a great negotiator [6:20] Negotiation tools, tactics, and strategies [7:49] Kristie\u2019s top 3 negotiation dos and top 3 don\u2019ts [11:07] Kristie\u2019s favorite negotiation story Negotiation is a critical piece of the sales process According to Kristie, negotiation is the process of working toward an agreement on an issue formally not agreed upon. She notes that people don\u2019t regularly see eye-to-eye on numerous topics. So the ability to talk through differences without damaging a business relationship is critical to ongoing and long-term success. Negotiation gets tricky because people, in general, don\u2019t like to negotiate. Not only that, but most sales reps don\u2019t have the correct formal training or repeatable processes in place that allow them to deal with those situations\u2014and proper training is key. Salespeople have a process for filling funnels. We have cadences and sequences to handle outbound leads, stages in the sales cycle, and more. But Kristie is willing to bet that no one could pull out a repeatable strategy for negotiation.  Seek to understand your customer Kristie points out that you have to seek to understand. She handles negotiation like she would an objection and she handles an objection by asking more questions. When a weird question comes up that seems out of left field, assume that the prospect has had a bad experience. Find out the reason the question is being asked. Find out if they have had adverse experiences. Then differentiate yourself from that past bad experience.  If their question is an unreasonable request, she notes that you are completely free to say: \u201cI wish I could. Unfortunately, this is the situation...\u201d What if you could trade something else for money? If it\u2019s a significant client with nice brand recognition, trade case studies or testimonials for a discount. Or adjust the terms of payment instead of reducing the price. Understanding what is influencing their behaviors can help you reach acceptable terms for both parties.  Kristie\u2019s negotiation tools, tactics, and strategies A negotiation tool that Kristie likes to use is calculating the cost of not coming to an agreement. Make a list of costs to each side and write down the disadvantage of not coming to an agreement. Sellers think \u201cI\u2019ve got a lot more to lose than the prospect or customer if this doesn\u2019t come together.\u201d But that\u2019s not always the case. They may lose face with their boss or their team if they don\u2019t make a deal happen. It might not look favorable for them.  People take negotiation personally\u2014but it\u2019s not your money. It\u2019s the company's money. It is everyone's job to get the best deal for their organization. Kristie also states \u201cDon\u2019t set fire to a bridge you might need to cross later.\u201d Some relationships won\u2019t be repairable if you don\u2019t handle them appropriately. There\u2019s a difference between negotiation and personally insulting or offending the person on the other side of the table. An agitated and upset person will impact your bottom-line more than someone who is happy.  What buying SIX Acura cars has taught Kristie about negotiation  Kristie is a huge fan of Acura, so much so that she\u2019s purchased six of them over the last 20 years. She buys all of her cars from a salesman that refers to himself as \u201cThe Polish car guy\u201d. Kristie LOVES the negotiation process and haggling and negotiating with her car guy. They\u2019ve developed a nice banter over the years. She waits for one phrase to come out of his mouth and when it does\u2014she knows she\u2019s won.  She admits she employs the \u2018Columbo\u2019 technique. Columbo was a TV detective who would pretend everything was wrapped up and then\u2014on his way out the door\u2014would say \u201cJust one more thing\u2026\u201d She always ends the car-buying process with \u201cI\u2019m going to need new floor mats\u201d.  Kristie notes that you must be prepared and know who you\u2019re dealing with. Know how they\u2019re going to react. She comes to the table having done her homework and knows the market value of the car is and what competitors are offering it for. Do the same with your negotiation and you\u2019ll have a great foundation to work from.  Resources & People Mentioned BOOK: Never Split the Difference by Chris Voss Acura Luxury Sedan Connect with Kristie Jones Connect on LinkedIn Follow on Twitter Connect With Paul Watts  LinkedIn Twitter Subscribe to SALES REINVENTED Audio Production and Show notes by PODCAST FAST TRACK https:\/\/www.podcastfasttrack.com ","author_name":"Sales Reinvented","author_url":"http:\/\/salesreinvented.com","html":"