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Sales Negotiating - Win more sales and with a higher price - LONDON
Tue 18 April 2017, 14:00 – 17:00 BST
Increase your sales conversion rate, with a higher selling price and enhanced profit margin
This three-hour masterclass transforms the way you negotiate and counter the negotiating tactics of customers and clients (especially professional buyers). You achieve more profitable sales without ever risking the order.
A half-day afternoon masterclass presented by Mike Kingston FInstSMM
Masterclass venues: LONDON and WEST MIDLANDS
For LONDON, Tuesday 18th April - please stay on this page
For SOLIHULL, WEST MIDLANDS, Wednesday 26th April - CLICK HERE for the event page.
*SPECIAL OFFER* Stay for both the morning and afternoon masterclasses
Attend Mike's morning 'Cold Call and Email Prospecting' masterclass for just £97+ vat when you book on this afternoon masterclass. (Select the 'Stay for Both' masterclass offer in the booking section below.)
“Your training has reduced the discounts given away by our sales teams and increased our profit margins. I love your training!”
(In-company presentation of this masterclass to 40 sales people).
Maggie Kessler, Dep. Chair and MD, Banner Chemicals and Surfachem.
What you can expect from this masterclass
You learn the strategies, tactics and language of professional price negotiating and how to apply these skills without risking a sale. In fact, when you (or your sales team) use these seven strategies, you substantially increase the chance of winning with a higher price.
This masterclass has been developed from a negotiating skills course that Mike Kingston originally taught to professional buyers of leading UK manufacturing, engineering and defence companies. The strategies and tactics used by professional buyers, and how you counter them, are covred in the training.
"Very, very useful. Every sales person should put an afternoon aside to attend."
Tom Donning, Sales. Orbus Software
How this masterclass helps you convert more sales - and with higher profit
Say NO to a discount demand but without saying NO - and without risking the order
Counter a price reduction demand with value outcome justification
Strengthen the perceived value of your offer to justify a higher price
Use powerful initial anchor points to reach a higher final settlement
Overcome comparisons to lower price competitors
Stop runaway demands and last minute attempts to steal concessions
Minimise the cost of what you conceed by offering value in kind
Toughen your negotiating position without risking the customer relationship
Diffuse buyer threats and control negative or challenging behaviour
Differentiate value when what you sell is the same as your competitors
Increase the win percentage in price competitive sales situations
“Great presenter, learned a lot of skills I didn’t think I could use in negotiating. I was fully engrossed the whole time.”
Jane Rushmor, Account Manager. Xeptor (Largest independent distributors of IT equipment in Europe)
"Fantastic. I came away with plenty of useful points to use."
Chris Atkinson, Key Account Manager. Williamson-Dickies Ltd. (Leading worldwide supplier of workwear)
"Superb and very well explained."
Luke Armstrong, Key Account Manager. Williamson-Dickies Ltd.
The operating profit of your business increases
A report by McKinsey and Company confirms that when you discount or reduce your selling price, even by a small amount, you takes a large slice out of your profit margin. (A price reduction comes directly off profit as costs tend to remain the same). If you increase your average selling price to compensate for discounting, as many companies do, you damage your competitiveness and attract fewer customers.
This masterclass gives you seven proven strategies that increase your average selling price, easily increasing the operating profit of your business by 20% to 30%, usually more - and with immediate effect.
Case studies include a hotel chain that cut out over half of their room discounts and a hygiene company that added 35% to their profit margin, both without losing a single customer. I'll show you how.
Buying behaviour is more challenging today
Today, price negotiation is an every-day part of business-to-business sales. However, buyers are often better trained in negotiating strategies and tactics than the sellers. Buyers are also in a stronger bargaining position as an increasing number of suppliers, many offering lower prices, compete for a share of the customer’s purse. Negotiating a sale should be a sensible process of give and take, to achieve mutually beneficial outcomes. The reality is often very different. Buyers make unreasonable demands, lie, stonewall, threaten you with competitors’ prices and even attack your integrity to achieve their price reduction objectives.
And even after you agree a deal, some hit you with an additional list of demands, before they finally confirm the order. In this skills packed, half day masterclass you discover how to manage customer demands, minimise discounting and deal with unreasonable buyer behaviour to reach a favourable agreement.
The principles that underpin a successful negotiation:
How to prepare for a negotiation
How to control the Anchor Point – to protect your price
Who blinked first? How to keep the initiative in a negotiation
'I Win’ or ‘Win-Win’ approach. Both can be the wrong approach! I'll explain why.
A concession or a trade? How not to give away your profit margin.
Preparation is everything!
The important things to check before you negotiate:
How to control the negotiating agenda and set out your expectations
Planning your Ideal, Realistic and Fall-back positions
Planning what you are prepared to trade. Filling baskets with tradeables
The most common buyer behaviours and how to manage them:
Dealing with closed, negative and secretive behaviour
How you deal with anger, threats, resentment and non-cooperation
Techniques that underpin a successful negotiation:
The art of trading effectively – the language of negotiating
The importance of the word IF
Powerful implication questioning. To uncover settlement positions
Question questions! An amazingly powerful technique
Turn around objections. It’s all about icebergs!
Close on a list of key actions, otherwise nothing is agreed
"Excellent! Engaging speaker, clever techniques, loads learnt in a short space of time. Great to have the workbook so no need to constantly scribble."
Lucy Graham, Sales and Marketing. LG Media and Marketing
Mike Kingston's masterclasses, seminars and in-company training
Over 26,000 businesses have benefited from my training at regional Chambers of Commerce, the EEF and other leading training organisations over the past nineteen years. Over 50% have come back more than once! I have also taught over 420 sales teams. They include finance and banking, professional and consulting services, engineering, manufacturing, business services, recruitment, logistics and training. Many are national, international or regional leaders in their field… a huge depth of selling experience that I share with delegates who attend my masterclasses.
Attendees included sales staff, sales directors and account managers, CEOs, directors and owners of smaller businesses, as well as consultants and professionals.