The key to successful negotiating is to be prepared. Knowing what you can expect from your prospective buyer, preparing what you’re willing to exchange for that and developing new terms or issues you can apply to increase the pie are all part of the negotiating game. It’s also crucial to know the primary negotiation strategies you should stay clear of.

Avoid the take it or leave tactic at all cost. This approach isn’t effective, and can make negotiation more difficult. For example, if a buyer wants a discount on the price of implementation of your product, it’s best to calmly and rationally respond to their request rather than denying it completely.

Anchoring and framing are two methods that can be utilized to your advantage during a negotiation. The first involves stating a specific number to be used as an anchor during negotiations. The second is providing the basis or frame that affects the way that the other party perceives the particular number.

Another common tactic to use is to create a situation in which your customer is not able to agree with you. If the buyer refuses to meet your price requirement, you can say something like “I recognize that you’re a person who values your own value and I can comprehend why you’re hesitant to accept my proposal.” The buyer then has to decide if their own criteria is more important than acquiescing to your offer.

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