One of my favourite parts of selling is of course, the negotiation process. Perhaps, I see it as a step closer to a closing. And nothing excites me at work like a potential closing. However, this is also the stage that burns a sales professional’s motivation.
Negotiation is the point where you will have objections thrown at you. A bag full of it, in fact. Gentle reminder though – selling is a not a sprint event, you need to constantly feel positive and you cannot let one negotiation take that away. Hence, it is important to pick your battle. Understand the difference between an objection and a condition.
An objection is a concern that a prospect has on your product or service. It can and should be addressed during the negotiation. It is a buying signal, which is a positive. So chin up, despite having a bag full of it.
On the other hand, a condition is something else entirely. It is an issue raised that genuinely cannot be overcome. It automatically converts a prospect to a “NQ” – not qualified. It will be time to raise the white flag. Well it is a lost deal today but it is still going into your rehash list.
Now that we have identify the difference between the two, I hope you are able to pick your battle wisely. Do not beat yourself too hard if you get stumped with conditions. Do your due diligence and if the conditions are valid reasons for not buying, there is nothing you can do. Move on.
Here is my two cents worth – you tried your level best and it is still in your rehash list. If you have done an excellent job at the pitch, when they are ready, the deal is still yours. Focus on your other possible closing. Pick yourself up, dust yourself and get back at the game. Lose the battle, win the war mate.