Monday, November 3, 2008

Aspects of how to close a sale.

This information applies to both online sales as they do offline sales. By being able to master each of these techniques, you'll find that your sales closing ratio will increase greatly.

The first step in sales negotiations is to develop options. What this means is that whenever you are in negotiations with anyone about your product or service, you want to make the other person aware of the fact that you DO have options, that they are not the only game in town. The best way to illustrate this tactic is with some examples.

Let's say that you have written an ebook and you're looking for a joint venture with an established heavy hitter to help you sell the book. You realize that in order to do this, you're going to have to offer him something. Perhaps you will let him place some of his personal links in your book or even grant him master resale rights exclusively. Of course, if he really is a heavy hitter, it's going to take a lot to win him over. If he hedges and tells you that the offer isn't good enough, you can simply tell him that you've made the same offer to another person and they are ready to jump all over it. If the person you are negotiating with is a shrewd businessman and recognizes that your offer really is a good one and that he'd be foolish to lose out to somebody else, he will probably take you up on your offer. At the very least he'll make you a counter offer that you can discuss.

The point of this is to put fear into the mind of the person you are negotiating with. This is the fear that they may lose out on a good thing because others are already interested. Of course in order for this to work, you have to have a really solid product that the heavy hitter will know in his heart is going to make a lot of money. If you present him with something that is pure hype and no substance, he is going to laugh at your offer and at your claims that you have others interested. So in order to at least give the appearance that you have other options, you have to have a product that seems believable that others would find and have interest in it.

This tactic also works when you are negotiating sales on the other end. You're looking to buy something from somebody else for your business but you feel the price is too high. Again, you develop options. You tell the person that you can get a similar and comparable product from somebody else for a lot less money. If they don't want to lose your business, they may negotiate the price with you. In this case though, you better have another option because if you don't and they refuse to come down in price you will have to eat the price and your credibility as a negotiator goes right down the tube.

By developing options, you give yourself the best chance on getting the best price on items you want, and the best sales on items you are selling.

Greg Cryns
Scentsy wickless candles-

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