Do Your Negotiations Say It With Flowers?
Are you a tough negotiator like Tesco .. or do you have more sense?
The recent spate of media coverage over the tactics that the supermarkets use with suppliers has exposed many of them to the public gaze. As long ago as the 1990s I supplied a number of supermarket chains so the current stories do not surprise me. I’ve been there and have the T-shirt.
I dumped Tesco, Sainsburys and several other supermarket chains before they controlled the business I then owned. It was tough but subsequently I was much better off.
There are thirteen words that can land any deal that has stalled.
It might be a sale or a purchase but deals sometimes stall and although you mean to chase them up and get things moving again .. you don’t have time.
So use this 13 word email template and get things moving again .. the same words work in a phone call or text message.
I’ve a friend who is a curious man.
No, I’m not being rude .. it is what he often says when negotiating.
He’ll say things like “I am curious about why you want this by month end”, “I’m curious why you want that quantity” or “I’m curious why you made that decision”.
His curiosity is almost childlike. But in the same way we tolerate children and their questions .. and even answer them .. he is able to ask really difficult questions without appearing rude or threatening.
When negotiating there are two ways to name a price.
You either publish one in advance, and lose all chances of negotiating a better deal, or you can negotiate one, where you hold the best cards.
If you publish a price on your website, or in your brochure, it becomes binding in many ways. Psychologically the customer will see this as your maximum price and will try to get a reduction on this. If you’ve tried to be clever, and have inflated the published price, then it might drive away many prospective customers that are initially making a search based on price.
The reality is that price is rarely the only factor buyers take into account. So you can negotiate.
The success of a negotiation is often dependent on the questions asked and answered.
But how do you know what questions to ask. Some are obvious of course … but others, although more revealing, can be more difficult to formulate.
Let’s start with some simple Closed questions that elicit either a YES or NO answer. Continue reading