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Last updated on 2024年7月15日

Here's how you can learn from a failed sales negotiation.

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Negotiating sales in the medical field can be particularly challenging. Unlike other industries, medical sales often involve complex products and a need to navigate through layers of decision-makers, from hospital administrators to healthcare practitioners. When a sales negotiation falls through, it's natural to feel discouraged. However, these moments also provide invaluable lessons. By analyzing where things didn't go as planned, you can refine your approach, enhance your communication skills, and better prepare for future negotiations. Embrace these learning opportunities to become more adept at navigating the intricate landscape of medical sales.

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1 Reflect Honestly

After a failed negotiation, take a step back and conduct an honest self-assessment. Reflect on the interaction from start to finish. Consider the questions you asked, the responses you received, and your understanding of the client's needs . Was there a moment when the conversation shifted? Did you fully address the client's concerns? Self-reflection is crucial in identifying areas for improvement. It can be uncomfortable, but acknowledging your own shortcomings is the first step toward enhancing your negotiation skills.

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Atul Mahajan

General Manager @ Ratnatris Pharmaceuticals | New Business Development, Key Account Management
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Failures are teachers. So a failed negotiation is an intuitive towards new learning. Consider following in case of failed negotiation in sales 1. Self assessment, 2. Discussion with the party where you failed, 3. Discussion with seniors for their advice, 4. Reassessment of all the possible situations and 5. Practice for a successful negotiation on different circumstances with a neutral person.

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Claudia Baerlin-Gallegos

Multilingual highly strategic Business Development Manager Pharmaceutical, Biotech and Device specialist with Molecular Biology background
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When you fail you need to reflect and see part you played in the process. Most of the time is good to dissect it to learn and construct a better way to approach situations in the future. One doesn’t need to fail to always review, learn, understand and integrate

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Willians Fiori

Hospital Israelita Albert Einstein | Innovation | IA Health Market | Longevity Expert| Ageism | Brands |Ontex do Brasil | linkedin creator | Professor | Institutional Marketing| E-Health Expert | Diversidade e inclus?o
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acho super importante sempre avaliar as necessidades dos clientes, sejam para entender a atender as reais demandas , que podem mudar com o tempo

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2 Seek Feedback

Once you've reflected on your own, reach out for feedback from the other party. They can provide insight into what didn't work from their perspective. While it may be difficult to hear criticism, constructive feedback is a goldmine for personal development. Approach the conversation with humility and the genuine desire to learn. Remember, your goal is to build a relationship that could lead to future opportunities, so keep the dialogue respectful and professional.

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R. Bruce Brenick

International Business Consultants
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Once this happens, I always ask, what can we do together to make this work? If the potential account wants your products and services, they will come back to the table.

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Willians Fiori

Hospital Israelita Albert Einstein | Innovation | IA Health Market | Longevity Expert| Ageism | Brands |Ontex do Brasil | linkedin creator | Professor | Institutional Marketing| E-Health Expert | Diversidade e inclus?o
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feedback deve ser sempre acompanhado de auto reflex?o , n?o apenas de quem esta recebendo, ,mas principalmente de quem esta dando o feedback

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3 Analyze Patterns

Look for patterns in your failed negotiations. Are there recurring issues such as price objections or misalignment on product value? Identifying common threads can help you adjust your strategy. For instance, if price is a frequent sticking point, consider how you can better communicate the cost-effectiveness or return on investment of your products. By recognizing patterns, you can preemptively address concerns in future negotiations and increase your chances of success.

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Willians Fiori

Hospital Israelita Albert Einstein | Innovation | IA Health Market | Longevity Expert| Ageism | Brands |Ontex do Brasil | linkedin creator | Professor | Institutional Marketing| E-Health Expert | Diversidade e inclus?o
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um grande desafio é diferenciar pre?o de valor, quando falamos de mercado saúde sempre estamos falando de padr?es tecnicos, e o valor muitas vezes esta exatamente nesse foco, talvez seja interessante repensar, fazer um estudo de impacto economico que o produto ou servi?o podem gerar , alem do que seja o comum

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4 Adapt Strategy

Based on your reflections and feedback, it's time to adapt your negotiation strategy . This might mean altering how you present information, adjusting your opening offer, or even changing the way you close the deal. Tailor your approach to each client's unique needs and concerns. This customization shows that you're not only listening but also willing to work with them to find a mutually beneficial solution.

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Willians Fiori

Hospital Israelita Albert Einstein | Innovation | IA Health Market | Longevity Expert| Ageism | Brands |Ontex do Brasil | linkedin creator | Professor | Institutional Marketing| E-Health Expert | Diversidade e inclus?o
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adapta??o é hiperativo nos dias de hoje, criar ofertas que possam se adequar ao momento , e nao perdermos o timming, para issp é preciso ter uma leitura precisa da estrategia de forma muito bem definida

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5 Practice Scenarios

Practice makes perfect, especially in sales negotiations. Create hypothetical scenarios based on your past experiences and role-play them with a colleague or mentor. This exercise allows you to test different strategies and refine your approach in a low-pressure environment. Pay attention to your body language and tone of voice as these non-verbal cues can significantly impact how your message is received.

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6 Maintain Resilience

Lastly, resilience is key in medical sales . Don't let a failed negotiation undermine your confidence. Instead, use it as fuel to push forward. Every setback is an opportunity to learn and grow. Stay positive, keep networking, and continue honing your skills. With persistence and a willingness to learn from your mistakes , you'll find that each failed negotiation brings you one step closer to success.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Songphon Maharojanan

Blended experiences from pharmaceutical, hospital and medical marketing industries.
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Learn from other team members successful case to fulfill your sales negotiation process which might be lack, insufficient information from assessment, analysis and feedback received. Be ensure that content is concise in your own dialogue, not a good idea to replicate the whole thing if they don’t suit your compelling style. Sometime listening to others’ case could generate a convincing point/idea that could be useful in your next negotiation.

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Here's how you can learn from a failed sales negotiation.

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1 Reflect Honestly

2 Seek Feedback

3 Analyze Patterns

4 Adapt Strategy

5 Practice Scenarios

6 Maintain Resilience

7 Here’s what else to consider

Medical Sales

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