You're about to close a big deal. How can you negotiate with your customer to get the best possible outcome?

1 Know your value

Before you enter any negotiation, you need to know what you're offering and why it's worth it. Do your research on your customer's needs, goals, challenges, and alternatives. Identify your unique selling proposition and how it can solve their problems or add value to their situation. Prepare a clear and compelling pitch that showcases your benefits and differentiators. Also, know your bottom line and your walk-away point. Don't compromise on your value or accept a deal that's below your standards.

3 Focus on interests, not positions

One of the most common mistakes in negotiating is to focus on positions, or what each party wants, rather than interests, or why they want it. This can lead to a win-lose scenario, where one party has to give up something to get something else. Instead, you should try to understand the underlying interests and motivations of both parties, and look for ways to create value and satisfy both sides. You can do this by exploring options, brainstorming solutions, and finding common ground. You can also use the BATNA (best alternative to a negotiated agreement) technique to compare your options and leverage your position.

4 Use the right tactics

Negotiating is a game of tactics and techniques, where you need to use the right ones at the right time to influence your customer and achieve your desired outcome. Framing involves presenting and communicating your offer in a certain way, using positive or negative language, emotions, or logic. Anchoring is setting an initial offer or expectation, such as a high or low number, or a range. Concessions involve giving or taking something in exchange for something else, through reciprocity, timing, or trade-offs. Lastly, closing is finalizing and sealing the deal with urgency, incentives, or trial closes.

5 Handle objections and conflicts

No matter how well you negotiate, you're likely to face some objections and conflicts from your customer. To handle them effectively and professionally, you need to clarify their point of view by asking probing or clarifying questions. Then, you can respond to the objection or conflict with facts, evidence, examples, or testimonials. Finally, confirm that the objection or conflict is resolved by using confirmation or feedback questions. If you want to close a big deal with your customer and get the best possible outcome, use these tips and strategies - you'll be on your way to becoming a master negotiator!

6 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?