What is a Negotiation and Why is it Important for Sales Professionals?
A negotiation is an opportunity to clarify expectations, build trust, and reach an agreement that benefits both parties. It should be a collaborative partnership discussion, not a combative one and the ideal outcome rarely involves discounting. Discounting erodes the value of your solutions, reduces profit margins, and, ultimately, destroys your credibility and relationships with customers.
These are the principles behind TFP’s negotiation skills training for technology sales professionals. The technology sale is unique in that solutions are often intangible and expensive, with benefits that are challenging to define, let alone quantify. Your goal is to build a knowledgeable sales team that can handle these situations and you need a sales negotiation course designed specifically for technology companies.
What’s Different About TFP’s Sales Negotiation Training?
Our training emphasizes two keys to successful technology sales; understanding your prospect’s financial drivers and establishing a foundation of value with respect to your solution. This course is often taken in conjunction with our financial acumen and value-based selling trainings, but it can also incorporate concepts from those two courses and act as a standalone.
We weave cutting edge techniques into our trainings and encourage philosophical discussions around concepts like “negotiation mindset” and “why negotiations fail.” But our primary goal is to provide the best negotiation training for technology sales professionals, which means we emphasize techniques that are proven to work such as BATNA and anchoring, and introduce new concepts, like the “negotiation zone.”
In addition to addressing discount requests, objection handling, and trading gives for gets, the course empowers participants to be more effective in their next negotiation by providing a planning framework—TFP’s Negotiation Strategy Worksheet. This framework covers many of the considerations, beyond price and quantity, that the sales professional should consider before entering a negotiation.
We customize each training to include examples and role play activities based on your business model, pricing, and approach. In addition to lecture, exercises, and quizzes, participants are encouraged to use this forum to exchange ideas and engage in lively discussions. They leave energized and ready to use their new skills when negotiating their next big opportunity.
What Results Can You Expect from TFP’s Negotiation Training?
Our courses are dynamic, modular, and customizable. We define the training together to emphasize the concepts that are most important to you and your team. Commonly requested exit skills include:
- An understanding of the importance of establishing value before pricing
- A broader knowledge of gives and gets to reduce discounting, avoid commission erosion, and to increase revenue, margin, and market valuation
- A firm grasp of concepts like BATNA, anchoring, and negotiation zone
- The ability to use and customize TFP’s Negotiation Strategy Worksheet to plan future negotiations
- The confidence to negotiate better deals for both you and your customer
- The capacity to recognize when to walk away and how to avoid leaving with nothing
We provide on-site negotiation training courses and reinforce them with a training manual, the Negotiation Strategy Worksheet, and optional eLearning modules, webinars, or additional trainings.
Contact us today to schedule a negotiation training for your technology sales team.
“Almost every participant commented that the real-world examples were valuable to them and it was a much-needed refresher to keeping their financial intelligence sharpened. I also think that this gives us an advantage in negotiating as we turn the corner on the second half of the year and start negotiating and closing the larger and more strategic deals.”
Brent Nicolet, Senior Director, Veritas