How to Negotiate When Working In Sales
A car salesperson’s core duties involve executing sales and arranging financing. To handle these tasks effectively, you’ll need to develop good negotiation skills, so you maintain a buyer’s interest while earning high profit margins. Big Motoring World explains how to negotiate when working in sales.
Strike the right tone
The tone you strike when negotiating car sales can make the difference between a successful deal and failure. We would advise you to adopt a light, pleasant tone when finalising deals, as if you go in too hard, you may appear too forceful to the buyer, convincing them that you want the sale so badly, they can draw extra concessions. Start out with small talk to put them at ease, so you can open a dialogue.
Define any concessions
Negotiations involve compromise, so you may need to make concessions to the buyer to hit a deal. It’s advisable, Hubspot’s sales blog writes, to define any concessions you’re willing to make before negotiations. Clearly define the absolute lowest you’re willing to go in terms of prices, freebies and add-ons, so that in the heat of the moment, you don’t make concessions which deprive you of profit.
Listen and respond
Always leave it to the buyer to start negotiations. You have presented the terms of the deal to them and they’re the ones who want to negotiate, so don’t hand them the power to come out on top by offering the buyer a discount before they even open their mouth. It’s wise to stand back and listen patiently to what your customer has to say, so you can cater to their wishes, without losing ground.
Expand the conversation
Price is often tied to value. Customers are sometimes willing to pay more when they believe they’re getting value for money. This is why it is a good idea to bring the customer’s attention to your firm’s add-on services. When working for Big Motoring World, for example, you could inform buyers of our top aftercare services, which include repairs and MOTs, to show how they’re getting value for money.
Tough negotiations out
If a customer is being unreasonable, you may be forced to walk away from a negotiation. But resilience and ambition are two characteristics of good salespeople, allowing you to achieve the seemingly impossible. When a buyer issues unreasonable demands, keep going. Find out why the customer is reluctant to buy a car, via questioning and listening, so you can propose solutions and get a yes.
Secure good deals
The key to navigating sales negotiations is to convince your customer that they’re getting a good deal. Specifically, you must show them that they could not secure a better deal by buying a car from another dealer. It’s key to observe your customer, from the minute they enter your showroom. This will allow you to go into negotiations with the upper hand, so you have the information needed to execute sales.
Big Motoring World Jobs
Big Motoring World Jobs is the place to find the best opportunities at the UK’s largest independent dealership of second-hand BMWs and Mercedes-Benz. Big Motoring World have a widespread number of jobs across our many levels of business, and this site will keep you right up to date with the latest vacancies in the automotive industry. To keep up with all of the company’s latest news and more information, follow us on Twitter.